Kosmos Energy Ltd. · NYSE:KOS
Kosmos Energy — Q1 2023 Earnings Presentation
11 slides from Kosmos Energy's earnings presentation, May 9, 2023
Slide 1: First Quarter 2023 Results
First Quarter 2023 Results 9 May 2023 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: Solid 1Q Delivery
Solid 1Q Delivery Expected 2H23+ free cash flow inflection point approaching Production Free Cash Flow inflection Production ~59,000 boepd point expected in 3Q23 In line with guidance Driven by the planned ramp up of Jubilee Jubilee Southeast Tortue Phase 1 Winterfell Developments Targeting first Ta
Slide 4: Operations On Track
Operations On Track 1Q net production of ~59,000 boepd Ghana Equatorial Guinea Gulf of Mexico 1Q net production 1Q net production 1Q net production ~33,600 boepd ~9,300 bopd ~15,900 boepd Jubilee Ceiba & Okume Kodiak • Gross oil production averaged ~72,200 • Gross oil production averaged ~27,200 • W
Slide 5: Jubilee Growth
Jubilee Growth Gross production >110,000 bopd expected in 4Q23 Jubilee Growth Forecast Jubilee Production (bopd) Facility Oil 120,000 Limit 100,000 80,000 60,000 Jubilee main field growth • Two producer wells, one water injector well – Producer expected online mid-2Q – Second producer + injector exp
Slide 6: Mauritania & Senegal: Tortue Phase 1
Mauritania & Senegal: Tortue Phase 1 Progress across all key workstreams 1 2 3 4 1 Subsea/Wells 2 FPSO 4 Floating LNG 3 Hub Terminal • Four wells drilled and completed • Amazon vessel currently laying deep-water pipeline, to be followed by the installation of • Pre-commissioning work the infield flo
Slide 7: Future Gas/LNG Growth
Future Gas/LNG Growth Deep hopper of future gas and LNG opportunities with ~15 Tcf of discovered resource net to Kosmos Tortue Phase 2 Significant Gas Resource In-Place De-Risked Across 3 Hubs • Phase 2 gravity-based structure (GBS) development concept approved by the partnership – Projected 2.5-3.0
Slide 8: 1Q 2023 Financials
1Q 2023 Financials In line with guidance and flat vs. 4Q 2022 4Q 2022A 1Q 2023A Net Production ~58,700 boe/day ~58,800 boe/day Realized Price1 ~$75.6/boe ~$70.9/boe Opex ~$20.2/boe ~$15.3/boe DD&A ~$17.8/boe ~$19.9/boe G&A2 $26 million $29 million Exploration Expense3 $12 million $11 million Net Int
Slide 9: Key 2023 Milestones – On Track
Key 2023 Milestones – On Track Multiple catalysts expected across all areas of the portfolio 9
Slide 10: KOSM:*S
KOSM:*S ENERGY.
Slide 11: Appendix: FY23 Detailed Guidance
Appendix: FY23 Detailed Guidance 2Q 2023 FY 2023 Production1,2 57,000 – 61,000 boe/day 65,000 – 69,000 boe/day Opex3 $14.50 – $16.50/boe $13.50 – $15.50/boe DD&A $20.00 – $22.00/boe $19.00 – $21.00/boe G&A (~60% cash) $28 – $30 million $110 – $120 million Exploration Expense4 ~$10 million ~$40 milli