Kosmos Energy Ltd. · NYSE:KOS
Kosmos Energy — Q2 2024 Earnings Presentation
11 slides from Kosmos Energy's earnings presentation, Aug 5, 2024
Slide 1: Second Quarter 2024 Results
Second Quarter 2024 Results August 5, 2024 NYSE/LSE: KOS 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this presentation
Slide 3: Operational Momentum Building
Operational Momentum Building Line of sight to +50% production growth target and free cash flow inflection Expected Production Growth to YE24 (boepd) 100,000 50,000 ] 0 2H22 Ghana GoM Current EG Infill GTA 2024 Ramp Up Ramp Up Production Wells Exit Rate Progress across all business units Ghana:
Slide 4: 2Q Operational Progress
2Q Operational Progress 2Q net production of ~62,100 boepd Ghana Equatorial Guinea Gulf of Mexico 2Q net production 2Q net production 2Q net production ~42,000 boepd ~8,500 bopd ~11,700 boepd Jubilee Ceiba & Okume Winterfell • Final producer well and water injection • 2Q gross oil production average
Slide 5: Winterfell Development
Winterfell Development Gulf of Mexico growth asset now online with additional upside potential • Kosmos: 25% working interest Greater Winterfell Area • Achieved first oil in early July from first two wells – Third well expected online by end-3Q • Material development – Gross production of ~20,000 bo
Slide 6: Mauritania & Senegal: GTA Phase 1
Mauritania & Senegal: GTA Phase 1 Good progress across all workstreams. First LNG expected 4Q24 Ministerial Visit to FPSO Key Project Milestones FLNG Arrival ✓ FPSO Arrival ✓ FPSO Moored/Risers Installed ✓ Subsea Mechanical Completion for First Gas Aug FLNG Tank Cool Down Aug FPSO Handover to Operat
Slide 7: Portfolio Depth & Capital Allocation
Portfolio Depth & Capital Allocation Pursuing the highest value opportunities with strict discipline around capital allocation High quality Portfolio rich High quality oil growth in future growth gas growth opportunities opportunities opportunities Winterfell expansion Kosmos has a world class GTA e
Slide 8: 2Q 2024 Financials
2Q 2024 Financials 2Q24 financials in line with guidance 2Q 2023A 2Q 2024A Net Production ~58,000boe/day ~62,100boe/day Realized Price1 ~$65.4/boe ~$75.0/boe Opex2 ~$15.4/boe ~$22.3/boe DD&A ~$21.8/boe ~$15.1/boe G&A3 $23 million $25 million Exploration Expense4 $11 million $11 million Net Interest
Slide 9: Operational Momentum Building
Operational Momentum Building Line of sight to ~90,000 boepd 2024 exit rate and FCF inflection Delivered in 1H24 Catalysts in 2H24 • Jubilee: Focus on high uptime and voidage • Jubilee: Completed three producer wells and ✓ replacement Ghana two water injector wells • Jubilee: Contracted 4D seismic s
Slide 10: Kosmos Energy
KOSM**S ENERGY.
Slide 11: Appendix: FY24 Detailed Guidance
Appendix: FY24 Detailed Guidance 3Q 2024 FY 2024 Production1,2 65,000 - 69,000 boe/day 67,000 - 71,000 boe/day Opex3 $17.50 - $19.50/boe $16.50 - $18.50/boe DD&A $19.50 - $21.50/boe $18.00 - $20.00/boe G&A4 $25 - $30 million $100 - $120 million Exploration Expense5 $10 - $15 million $40 - $60 millio