Overview

• Oil exploration firm's Q4 revenue was $295 mln, with production up 4% from Q3

• Adjusted net loss for Q4 was $78 mln, with EPS of -$0.16

• Company sold Equatorial Guinea assets for up to $220 mln

Outlook

• Kosmos expects 2026 production growth of around 15% year-on-year

• Company plans to reduce operating costs by around 20% in 2026

• Kosmos targets at least 10% debt reduction by year-end 2026

Result Drivers

• PRODUCTION INCREASE - Net production rose by 4% from Q3, driven by ramp-up at GTA and Jubilee fields

• ASSET SALE - Kosmos sold its Equatorial Guinea assets for up to $220 mln to enhance liquidity and focus on core operations

• COST CONTROL - FY25 capex was below budget, demonstrating rigorous control and allocation of capital

Company press release: ID:nGNX5wx9qV

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 EPS		-$0.79
Q4 Net Income		-$377 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

• Wall Street's median 12-month price target for Kosmos Energy Ltd is $2.30, about 1.3% above its February 27 closing price of $2.33

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