Kosmos Energy Ltd. · NYSE:KOS
Kosmos Energy — Q2 2022 Earnings Presentation
12 slides from Kosmos Energy's earnings presentation, Aug 8, 2022
Slide 1: 2Q 2022 Results
2Q 2022 Results 8 August 2022 NYSE/LSE: KOS 1
Slide 2: Disclaimer: Forward-Looking Statements
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: 2Q22: Strong Execution
2Q22: Strong Execution Delivering on key priorities Production Developments Assets Performing Progressing • ~62,200 boepd • Tortue Phase 1 • Upper end • Jubilee Southeast of guidance • Winterfell Optimizing Value Financial Position of Gas Portfolio Strengthened • $290 million of FCF • GTA Phase 1 ca
Slide 4: Production Assets Performing
Production Assets Performing 2Q production of ~62,200 boepd – the upper end of guidance Ghana Equatorial Guinea Gulf of Mexico 2Q net production 2Q net production 2Q net production ~31,600 bopd ~10,000 bopd ~20,600 boepd • Jubilee gross production averaged ~92,000 • Gross production averaged ~31,300
Slide 5: Developments Progressing
Developments Progressing Near-term projects progressing – expected to deliver ~50% production growth by 2024 • Phase 1: All key workstreams making progress: over 80% complete at end-2Q – Hub Terminal: All 21 caissons installed. Piling installation nearing completion. Quarters platform in transit to
Slide 6: Winterfell
Winterfell Resource base growing. FID approval expected end-3Q Phase 1 Winterfell Area • FID expected end-3Q – Kosmos ~22% working interest • Phased development plan – Phase 1: 5 wells (3 pre-first oil) – Long leads ordered, rig selected • Significant resource upside potential based on pressure work
Slide 7: Optimizing The Value Of Our Gas Portfolio
Optimizing The Value Of Our Gas Portfolio Significant upside from future gas developments • Tortue Phase 1: Kosmos plans to utilize existing contractual Significant Gas Resource In-Place De-Risked Across 3 Hubs rights under our Phase 1 LNG sales agreement to divert cargos to prospective buyers in or
Slide 8: 2Q22: Financial Position Strengthened
2Q22: Financial Position Strengthened Continued financial delivery – on track to deliver leverage of <1.5x before year-end Robust Liquidity 2Q EBITDAX ~$385 million $1,023 $923 2Q Net Debt ~$2.1 billion $767 $335 $550 $596 $235 2Q Leverage ~1.6x $85 $250 $400 $250 $400 2Q FCF ~$70 million (1H ~$290
Slide 9: 2Q22 Financials
2Q22 Financials Significant year-over-year improvement 2Q 2022A 2Q 2021A Net Production ~62,200 boe/day ~51,600 boe/day Realized Price1 ~$86.5/boe ~$54.0/boe Opex ~$15.9/boe ~$19.2/boe DD&A ~$21.4/boe ~$25.1/boe G&A2 $25 million $22 million Exploration Expense3 $18 million $6 million Net Interest $2
Slide 10: Solid Progress In 1H On 2022 Objectives
Solid Progress In 1H On 2022 Objectives ~50% Production Growth Expected 2022-24 Producing Assets 140 Performing Developments Progressing Tortue Company production (boepd) Phase 2 Tortue Value of Gas Portfolio 70 ~50% Phase 3+ Being Optimized Tortue BirAllah Phase 1 Yakaar- Jubilee Teranga Financial
Slide 11: Kosmos Energy
KOSM*“*S ENERGY.
Slide 12: Appendix: FY22 Detailed Guidance
Appendix: FY22 Detailed Guidance 3Q 2022 FY 2022 Production1,2 60,000 – 63,000 boe/day 63,000 – 67,000 boe/day Opex $14.00 – $16.00/boe $16.00 – $18.00/boe DD&A $21.00 – $23.00/boe G&A (~65% cash) $24 – 26 million ~$100 million Exploration Expense3 $15 – $20 million ~$50 – $60 million Net Interest ~