Kosmos Energy Reports $185 Million Second-Quarter Net Income

Kosmos Energy reported a net income of $185 million and a 12 percent increase in net production, reaching approximately 71,400 barrels of oil equivalent per day, for the second quarter of 2026. The company reduced its net debt by more than $400 million during the first half of the year through an equity raise, a GTA bond deal, and the $127 million sale of its Equatorial Guinea interests in the Ceiba Field and Okume Complex to Panoro Energy.

Operational growth was driven by strong performance at the Jubilee field in Ghana and the Greater Tortue Ahmeyim project in Mauritania and Senegal. In the Gulf of Mexico, the company completed a farm-down of the Tiberius project to Navitas and formed an exploration alliance with Shell for the Norphlet trend. Additionally, ACWA Power signed a 25-year agreement to operate a gas-fired power plant in Mauritania.

Following these results, the company updated its full-year 2026 net debt reduction target to 20 percent while maintaining capital expenditure guidance of $350 million. CEO Andrew G. Inglis stated that the company has made excellent progress toward its four primary goals for the year, which include increasing production from core assets, lowering costs, reducing debt, and advancing its growth portfolio with minimal capital.