Kosmos Energy Ltd. · NYSE:KOS
Kosmos Energy — Q3 2024 Earnings Presentation
12 slides from Kosmos Energy's earnings presentation, Nov 4, 2024
Slide 1: Third Quarter 2024 Results
Third Quarter 2024 Results November 4, 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: Continued Operational Momentum & Enhanced Financial Resilience
Continued Operational Momentum & Enhanced Financial Resilience Line of sight to +50% production growth target Equatorial US Gulf Mauritania Balance Ghana Guinea of Mexico & Senegal Sheet 2025 activity Active fourth Winterfell Greater Tortue Extended optimized with quarter with startup. Ahmeyim (GTA)
Slide 4: 3Q Operational Progress
3Q Operational Progress 3Q net production of ~65,400 boepd Ghana Equatorial Guinea Gulf of Mexico 3Q net production 3Q net production 3Q net production ~40,500 boepd ~8,000 bopd ~16,900 boepd Jubilee Ceiba & Okume Winterfell • 3Q gross oil production averaged ~87,600 • 3Q gross oil production averag
Slide 5: Mauritania & Senegal: GTA Phase 1
Mauritania & Senegal: GTA Phase 1 First gas expected shortly, on track for first LNG around end of the quarter FLNG Tank Cool Down with Commissioning Cargo Remaining Project Milestones FLNG Tank Cool Subsea First LNG FPSO Ready Down & Mechanically First Gas to Expected for Startup Commissioning Comp
Slide 6: 3Q 2024 Financials
3Q 2024 Financials 3Q24 financials in line with guidance 2Q 2024A 3Q 2024A Net Production ~62,100boe/day ~65,400boe/day Realized Price1 ~$75.0/boe ~$69.7/boe Opex2 ~$22.3/boe ~$16.1/boe DD&A ~$15.1/boe ~$20.8/boe G&A3 $25 million $23 million Exploration Expense4 $11 million $14 million Net Interest
Slide 7: Enhancing Financial Resilience
Enhancing Financial Resilience Simplified capital structure with no near-term maturities, ample liquidity and robust hedging in place Recent Financial Progress Extended Maturity Schedule1 Successful Bond Offering • $500m bond offering completed in 3Q24 • Repaid $400m of 2026 bonds and ~$50m of each
Slide 8: Significant Reduction In Capital Spending Expected 4Q24+
Significant Reduction In Capital Spending Expected 4Q24+ Rising production and lower forecast capex expected to drive meaningful free cash flow Capex expected to decline sharply as production ramps up 350 300 Ghana drilling GoM campaign projects 250 complete largely complete Capex ($m) 200 Expected
Slide 9: Well Positioned For 2025
Well Positioned For 2025 Prioritizing free cash flow through disciplined capital allocation Production ramping up towards 90,000 boepd YE24 target Capex expected to fall sharply 4Q24+ Capex being managed to prioritize FCF delivery in 2025 Free cash flow to reduce absolute debt / leverage Operated gr
Slide 10: Kosmos Energy
KOSM**S ENERGY.
Slide 11: Portfolio Depth 2025 and beyond
Portfolio Depth 2025 and beyond 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 expans
Slide 12: Appendix: FY24 Detailed Guidance
Appendix: FY24 Detailed Guidance 4Q 2024 FY 2024 Production1,2 70,000 - 74,000 boe/day ~67,000 boe/day Opex3 $17.50 - $19.50/boe $16.50 - $18.50/boe DD&A $20.50 - $22.50/boe $18.00 - $20.00/boe G&A4 $25 - $30 million $100 - $120 million Exploration Expense5 $10 - $15 million $40 - $60 million Net In