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Dec 31, 2025
Kosmos Energy Q4 2025 Earnings Report
Kosmos Energy reported a net loss in the fourth quarter of 2025 driven by impairments and exploration expenses, despite continued production growth.
Key Takeaways
Kosmos Energy generated $294623000 in oil and gas revenue in Q4 2025 but reported a net loss of $377141000 primarily due to $177563000 in asset impairments and $151092000 in suspended well cost impairments. Production increased quarter-over-quarter, while free cash flow remained negative.
Reported net loss of $377141000 impacted by impairments and exploration costs.
Oil and gas revenue totaled $294623000 for the quarter.
Net production averaged approximately 67900 boepd, up around 4% sequentially.
Exited the quarter with net debt of $2982530000 and liquidity of approximately $342000000.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For 2026, Kosmos expects production growth of around 15% year-over-year, lower operating costs, and approximately $350000000 in capital expenditures while targeting at least 10% debt reduction by year-end.
Positive Outlook
- Projected 2026 production growth of around 15% year-over-year.
- Targeting approximately 20% reduction in operating costs year-over-year.
- FY 2026 capital expenditure expected around $350000000 with focus on high-return projects.
- Hedging program in place with 8500000 barrels hedged in 2026.
- Targeting at least 10% absolute debt reduction by year-end 2026.
Challenges Ahead
- Continued elevated net interest expense guidance of approximately $240000000 to $260000000 for FY 2026.
- Operating costs at GTA impacted leverage metrics.
- Exposure to commodity price volatility despite hedging.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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