Past year: ▲ 65%(90.7c – 3.08 USD)
Each one in plain English, with the numbers worked through for a shareholder.
22 June 2026asset acquisition disposition● NeutralMajor
The Equatorial Guinea sale to Panoro closed for a final $127 million (adjusted down from the $180 million headline price for interim cash already collected), plus the same contingent payments -- completing Kosmos's exit from the country less than nine years after entering it.
25 Feb 2026asset acquisition disposition● NeutralMajor
Kosmos agreed to sell its entire Equatorial Guinea position -- the Ceiba and Okume production assets bought from Hess in 2017 -- to Panoro Energy for $180 million upfront plus up to $39.5 million more, exiting the country entirely.
30 Sept 2025debt financing▲ GoodMajor
Kosmos lined up a new secured term loan (up to $250 million) from Shell's trading arm against its Gulf of Mexico assets, using $150 million of it to redeem part of its 7.125% notes due 2026 ahead of maturity at a much lower interest cost.
29 Nov 2024drilling progress report▼ BadMajor
Kosmos's Akeng Deep exploration well off Equatorial Guinea came up dry and will be plugged and abandoned, closing out the 2024 drilling campaign there -- though its Ceiba and Okume infill wells in the same area came online successfully, with Ceiba outperforming expectations.
18 Oct 2024material agreement termination● Neutral
Kosmos voluntarily cancelled its undrawn $165 million revolving credit line ahead of its scheduled year-end expiration, simplifying its debt stack after the new 2031 notes issuance.
24 Sept 2024debt financing● NeutralMajor
Kosmos issued $500 million of 8.75% senior notes due 2031, its highest-coupon bond yet, reflecting the higher interest-rate environment.
29 Apr 2024debt financing▲ GoodMajor
Kosmos again expanded its main bank facility, to $1.35 billion from $1.25 billion and extended it to 2029, while shifting some capacity out of its smaller revolver.
8 Mar 2024capital raising announcement● NeutralMajor
Kosmos completed the sale of $400 million of 3.125% convertible senior notes due March 15, 2030, including the full $50 million extra amount the initial purchasers could buy. The notes are unsecured, can be converted into shares at an initial price of about $7.02 per share (142.4501 shares per $1,000), and Kosmos will pay cash up to the principal on conversion, so any new shares would only cover the amount above that. This adds a new kind of debt to the existing senior notes stack, with possible dilution to shareholders if the share price rises above the conversion price. The filing also mentions capped call transactions entered with the pricing, but the text provided is cut off before their terms, so their effect is not described here.
18 Sept 2023material agreement termination▲ GoodMajor
Kosmos paid off the last $137.5 million of its pandemic-era Gulf of Mexico term loan in full using cash on hand, closing out the expensive 2020 crisis financing entirely.
1 Apr 2022debt financing▲ Good
Kosmos replaced its revolver with a new $250 million facility designed to stay largely undrawn, requiring at least half of excess cash to go toward paying it down -- a sign of deleveraging discipline as oil prices recovered.
26 Oct 2021debt financing▲ GoodMajor
Kosmos refinanced the pricey bridge notes from the Anadarko WCTP deal with $400 million of 7.75% senior notes due 2027, locking in cheaper long-term financing for the Ghana stake increase.
13 Oct 2021asset acquisition disposition▲ GoodMajor
Kosmos bought Occidental's Anadarko WCTP subsidiary for $550.6 million, lifting its stake in Ghana's core Jubilee field from 24.1% to 42.1% and TEN from 17.0% to 28.1% -- funded with $400 million of expensive short-term bridge notes (8%+ rate, ratcheting to 12% if not refinanced within a year) plus a facility draw.
10 May 2021debt financing● Neutral
Kosmos trimmed its main bank facility from $1.5 billion to $1.25 billion and dropped its Senegal and Mauritania units as borrowers, while adding an ESG-linked pricing mechanism tied to emissions targets -- the facility's first sustainability-linked terms.
4 Mar 2021debt financing● NeutralMajor
Kosmos issued $450 million of 7.5% senior notes due 2028 as oil prices recovered, adding to its stack of high-yield bonds behind its secured bank debt and Gulf of Mexico term loan.
6 Oct 2020debt financing▼ BadMajor
Kosmos converted its June crude-prepayment deal with Trafigura into a formal $200 million secured term loan against its Gulf of Mexico assets (with a Beal Bank affiliate also lending), at around a 6% margin -- costly debt reflecting how tight liquidity was during the pandemic oil crash.
14 Sept 2020asset acquisition disposition▲ GoodMajor
Kosmos agreed to sell its frontier exploration acreage in Namibia, Sao Tome and Principe, Suriname and South Africa to Shell for $96 million upfront plus up to $100 million more if exploration pays off -- raising cash by exiting early-stage exploration bets during the 2020 downturn.
2 July 2020debt financing▼ BadMajor
With its stock near delisting territory, Kosmos raised up to $200 million by pre-selling future Gulf of Mexico crude to trading house Trafigura -- an unconventional financing move to shore up liquidity during the 2020 oil-price collapse.
23 Apr 2020listing compliance notice▼ BadMajor
Kosmos's stock fell far enough during the COVID oil-price crash that the NYSE warned it risks delisting for trading below the $1 minimum share-price rule; Kosmos has until December 2020 to recover and is considering a reverse stock split if needed.
18 Feb 2020material agreement▲ GoodMajor
Kosmos and its Mauritania/Senegal partners signed a 10-year LNG sale contract with BP to buy about 2.45 million tonnes/year from the Greater Tortue/Ahmeyim project once it starts up -- the key commercial milestone locking in a buyer for the project's gas.
4 Apr 2019debt financing● NeutralMajor
Kosmos issued $650 million of new 7.125% senior notes due 2026, its largest bond yet, now also guaranteed by the Gulf of Mexico subsidiaries picked up in the Deep Gulf Energy deal.
28 Dec 2018security holder rights change● NeutralMajor
Kosmos re-incorporated from Bermuda to Delaware and moved its official headquarters to Dallas, Texas, while keeping its NYSE/LSE listings and "KOS" ticker unchanged -- a structural domicile change, not a merger.
29 Nov 2018material agreement▲ GoodMajor
Warburg Pincus sold another 17.25 million shares to the public, and Kosmos itself agreed to buy back 35 million shares directly from Warburg at the same offer price -- its largest single reduction yet of sponsor overhang.
20 Sept 2018asset acquisition disposition▲ GoodMajor
The Deep Gulf Energy acquisition closed for roughly $953 million cash plus about 35 million new Kosmos shares issued to First Reserve, completing Kosmos's entry into the US Gulf of Mexico.
9 Aug 2018asset acquisition disposition▲ GoodMajor
Kosmos agreed to buy Deep Gulf Energy, a First Reserve-backed deepwater Gulf of Mexico producer, for $1.225 billion ($925 million cash plus $300 million in Kosmos stock) -- a transformational move giving Kosmos its first US Gulf of Mexico production alongside its West Africa portfolio.
7 Aug 2018material agreement▲ Good
Kosmos extended its $400 million revolving credit facility to May 2022 and lowered its borrowing margin.
8 Feb 2018debt financing▲ GoodMajor
Kosmos refinanced its commercial debt facility again, raising capacity from $1.3 billion to $1.5 billion, extending maturity to 2025, and folding in its newly acquired Equatorial Guinea production plus a future option to add the Greater Tortue gas project.
27 Oct 2017asset acquisition disposition▲ GoodMajor
Kosmos and partner Trident Energy agreed to jointly buy Hess's 80.75% stake in Block G offshore Equatorial Guinea for $650 million (about $240 million net to Kosmos), each ending up with a 40.375% interest -- Kosmos's entry into Equatorial Guinea.
18 Jan 2017material agreement● Neutral
Warburg Pincus and Blackstone sold another 30 million shares in a fourth secondary offering since the IPO, continuing to shrink their combined stake.
11 Jan 2017production update▼ BadMajor
Operator Tullow reported Jubilee field averaged 73,700 bopd in 2016 while ongoing FPSO turret repairs continue (insurance-covered), and confirmed the new TEN project came online but will run below plan (about 50,000 bopd in 2017) due to reservoir-pressure issues and a drilling freeze pending a Ghana/Cote d'Ivoire maritime border ruling.
21 Dec 2016farm in farm out agreement▲ GoodMajor
Kosmos agreed to farm out most of its stake in the Mauritania and Senegal exploration blocks to BP, which will fund over $120 million in upfront and carry payments and take majority operating positions -- the deal that brought BP in as Kosmos's partner on what will become the Greater Tortue/Ahmeyim gas project.
