Kosmos Energy misses top-line and bottom-line estimates; initiates Q4 and updates FY outlook

* Kosmos Energy press release [https://seekingalpha.com/pr/20289077-kosmos-energy-announces-third-quarter-2025-results] (KOS [https://seekingalpha.com/symbol/KOS]): Q3 Non-GAAP EPS of -$0.15 misses by $0.02.
* Revenue of $311.23M (-23.7% Y/Y) misses by $42.88M.
* Net Production(2): ~65,500 barrels of oil equivalent per day (boepd), up 3% versus second quarter 2025, with sales of ~59,900 boepd.
* Capital expenditures: $67 million.
* During the third quarter, 6.8 gross LNG cargos were lifted from the GTA project offshore Mauritania and Senegal.
* First producer well of the 2025/26 Jubilee drilling campaign brought online with ~10,000 bopd average contribution.
*

2025 GUIDANCE

4Q 2025

FY 2025 GUIDANCE

Production(1,2,3)

66,000 - 72,000 boe per day

~65,000 boe per day

Opex(4)

$15.00 - $18.00 per boe

~$22.00 per boe

DD&A

$21.00 - $23.00 per boe

$22.00 - $24.00 per boe

G&A(~66% cash)

~$15 million

~$75 million

Exploration Expense(5)

~$10 million

$25 - $45 million

Net Interest Expense(6)

$55 - $60 million

~$220 million

Tax

$4.00 - $6.00 per boe

$4.00 - $6.00 per boe

Capital Expenditure

$80 - $100 million