Kosmos Energy Ltd. · NYSE:KOS
Kosmos Energy — Q2 2020 Earnings Presentation
11 slides from Kosmos Energy's earnings presentation, Aug 3, 2020
Slide 1: 2Q 2020 Results
2Q 2020 Results August 3 2020 NYSE/LSE: KOS 0 Strictly Private and Confidential
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: 2Q 2020 Highlights
2Q 2020 Highlights Early actions helped Kosmos to navigate a challenging quarter for the sector • Kosmos delivered strong operational performance despite challenging 2nd quarter – Record low oil prices and unprecedented volatility – Production delivered on guidance ~60,000boepd in line with 2Q gui
Slide 4: 2Q 2020: Solid Operational Performance
2Q 2020: Solid Operational Performance Safe and reliable operations during 2Q in line with guidance Ghana Equatorial Guinea Gulf of Mexico • 2Q net production of ~29,000bopd at • 2Q net production of ~11,000bopd • 2Q net production of ~20,000boepd; as the high end of range guided due to impact of Ma
Slide 5: COVID-19
COVID-19 Working with local communities to fight the virus in West Africa Ghana Equatorial Guinea Donated equipment and supplies to the Ghana Health Service, including Along with other industry players, procured and donated test kits and an automated DNA/RNA extraction machine lab equipment to suppo
Slide 6: Q2 2020: Key Financial Items
Q2 2020: Key Financial Items Strong operational performance impacted by one-time revenue effects Q2 2020A • Impact of May GoM Shut ins; Net Production ~60,100 boe/day otherwise strong production from 3 producing hubs One-time impact • Significant dislocation between Realized Price 1 ~$21/boe quoted
Slide 7: Maintain Balance Sheet
Maintain Balance Sheet Healthy liquidity position due to cash discipline and production prepayment agreement Liquidity ($ million)1 Liquidity / Prepayment agreement $900 • Total liquidity1 at the end of 2Q 2020 of $614 million, including $164 million in cash • Up to $200 million from prepayment agre
Slide 8: Mauritania & Senegal: Continued Progress
Mauritania & Senegal: Continued Progress Greater Tortue project advances despite COVID-19 mitigations in Mauritania/Senegal Subsea FPSO FLNG Breakwater ~30% complete ~40% complete ~53% complete ~34% complete Major equipment packages Delivery of rock continues 251 km of the 308 km line 291 of 387 Hul
Slide 9: Return to Exploration
Return to Exploration High-grading tests for 2021 Proven Basin Infrastructure-led Exploration (ILX) • Significant progress made towards maturing and high-grading ILX hopper in proven basins (GoM / EG) • Expected free cashflow from 2H 2020 and 2021 combined with increased EBITDAX provides ability to
Slide 10: Conclusion
Conclusion •1 Good underlying performance while navigating a challenging 2Q 2020 – Strong quarter operationally – Guidance maintained •2 Balance sheet in solid position – Reached a free cash flow inflection point at current strip prices – Expect to be free cash flow positive in 2H20 and into 2021 •3
Slide 11: Kosmos Energy
KOSM<*S ENERGY.