REG - Kosmos Energy Ltd - Update on Financial Progress

Kosmos EnergyAnnouncement

Wed 07:00

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RNS Number : 5056B  Kosmos Energy Limited  01 October 2025

 

kosmos energy provides update ON FINANCIAL PROGRESS

 

 

DALLAS, Texas, October 1, 2025 - Kosmos Energy (http://www.kosmosenergy.com/)
(NYSE/LSE: KOS) ("Kosmos" or the "Company") today provides a financial update
following several positive developments across the company's financing
activities.

 

Reserve-Based Lending Facility

Kosmos has successfully completed the semi-annual re-determination of its
reserve-based lending ("RBL") facility with a borrowing base remaining in
excess of the RBL's $1.35 billion facility size, reflecting the quality and
resilience of the assets that underpin the facility.

 

In addition to the successful RBL redetermination, the Company confirms that
it remains in full compliance with all associated liquidity and financial
covenants under the RBL facility, including the liquidity test undertaken
covering the Company's 2027 unsecured notes, which was carried out alongside
the RBL re-determination in September. No further tests are scheduled until
March 2026.

 

Liquidity

As previously announced, Kosmos recently entered into a senior secured term
loan facility ("Term Facility") on attractive terms with Shell Trading (US)
Company ("Shell") for up to $250 million. The Company has issued a notice of
partial redemption, with respect to $150 million of its 2026 unsecured notes
to be funded by the first tranche of the Term Facility. Redemption of the
notes is expected to occur on October 6, 2025. The remaining $100 million is
planned to be repaid in advance of the maturity date.

 

Hedging

Kosmos took advantage of a recent increase in oil prices to add more hedges
for 2026. Kosmos now has 8.5 million barrels of oil hedged for 2026 with an
average floor of $66 per barrel.

 

Neal Shah, Chief Financial Officer, commented "In recent weeks, we have made
significant progress across several financing areas, proactively securing
additional liquidity and more downside protection in 2026 through our rolling
hedging program at attractive prices. We were pleased to complete the fall
redetermination and confirm that we continue to be in compliance with all of
our RBL obligations and I would like to thank our bank group for their
continued support. As we enter the fourth quarter, Kosmos will continue to
prioritize the financial resilience of the company through the organic
delivery of free cash flow from our high-quality assets and disciplined
capital expenditure program."

 

 

About Kosmos Energy

 

Kosmos Energy is a leading deepwater exploration and production company
focused on meeting the world's growing demand for energy. We have diversified
oil and gas production from assets offshore Ghana, Equatorial Guinea,
Mauritania, Senegal and the Gulf of America. Additionally, in the proven
basins where we operate we are advancing high-quality development
opportunities, which have come from our exploration success. Kosmos is listed
on the NYSE and LSE and is traded under the ticker symbol KOS. As an ethical
and transparent company, Kosmos is committed to doing things the right way.
The Company's Business Principles articulate our commitment to transparency,
ethics, human rights, safety and the environment. Read more about this
commitment in the Kosmos Sustainability Report. For additional information,
visit www.kosmosenergy.com.

 

Forward-Looking Statements

 

This press release 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 press release that address activities, events or
developments that Kosmos expects, believes or anticipates will or may occur in
the future are forward-looking statements. Kosmos' estimates and
forward-looking statements are mainly based on its current expectations and
estimates of future events and trends, which affect or may affect its
businesses and operations. Although Kosmos believes that these estimates and
forward-looking statements are based upon reasonable assumptions, they are
subject to several risks and uncertainties and are made in light of
information currently available to Kosmos. When used in this press release,
the words "anticipate," "believe," "intend," "expect," "plan," "will" or other
similar words are intended to identify forward-looking statements. Such
statements are subject to a number of assumptions, risks and uncertainties,
many of which are beyond the control of Kosmos, which may cause actual results
to differ materially from those implied or expressed by the forward-looking
statements. Further information on such assumptions, risks and uncertainties
is available in Kosmos' Securities and Exchange Commission ("SEC")
filings. Kosmos undertakes no obligation and does not intend to update or
correct these forward-looking statements to reflect events or circumstances
occurring after the date of this press release, except as required by
applicable law. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. All forward-looking statements are qualified in their entirety by
this cautionary statement.

 

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Source: Kosmos Energy Ltd.

 

 

Investor Relations

Jamie Buckland

+44 (0) 203 954 2831

jbuckland@kosmosenergy.com

 

Media Relations

Thomas Golembeski

+1-214-445-9674

tgolembeski@kosmosenergy.com

 

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