Kosmos Energy reported a net loss of $124 million, or $0.26 per diluted share, for the third quarter of 2025. The adjusted net loss, excluding non‑recurring items, was $72 million, or $0.15 per diluted share.
Revenue for the quarter was $311 million, falling 23.7% year‑over‑year and below analyst expectations of roughly $354 million to $364 million. Production increased 3% quarter‑over‑quarter to about 65,500 barrels of oil equivalent per day, driven by higher output at the Greater Tortue Ahmeyim LNG project and the Jubilee field.
Operating expenses fell 39% quarter‑over‑quarter to $148 million, or $19.51 per boe, excluding certain project costs. Kosmos is on track to achieve a $25 million reduction in overhead by year‑end.
The company secured a $250 million senior secured term loan with Shell to manage debt maturities and improve liquidity, ending the quarter with approximately $2.9 billion in net debt and $540 million in cash and equivalents.
For 2025, Kosmos expects capital expenditures to be below $350 million, a decline of more than 60% year‑on‑year. Management indicated that 50% of 2026 oil production will be hedged by year‑end and that production is expected to rise through 2026.
In Q3 2024, Kosmos posted a net income of $45 million, or $0.09 per diluted share, and revenue of $408 million, underscoring a sharp decline in profitability and top line for the current quarter.
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