Kosmos Energy reported second quarter 2026 revenue of $607 million, with a GAAP net income of $185 million, or $0.31 per diluted share. The company's adjusted net income was $68 million, or $0.11 per diluted share, missing analyst estimates. Production increased year-over-year, driven by ramp-ups at key projects, and the company generated $89 million in free cash flow.
Key Highlights
- Net production for the quarter averaged approximately 71,400 barrels of oil equivalent per day (boepd), an increase of about 12% compared to the second quarter of 2025.
- The company generated approximately $89 million in free cash flow during the quarter, contributing to a net debt reduction of over $400 million in the first half of 2026.
- Production expenses fell by approximately 25% year-over-year to $179 million, or $25.61 per boe.
- Kosmos completed the sale of its interests in the Ceiba Field and Okume Complex in Equatorial Guinea, receiving final cash consideration of approximately $127 million.