Wed, Aug. 31, 2:02 PM
Wed, Aug. 31, 1:37 PM
- Kosmos Energy (KOS +5.5%) is sharply higher after RBC Capital upgrades shares to Outperform from Sector Perform with a $9 price target, raised from $6, as the firm expects the company to utilize the next few quarters to unveil its exploration plans for Mauritania and Senegal.
- RBC thinks KOS likely will start with source rocks and leads and eventually culminate with a farm-out deal, and the firm recommends accumulating the stock ahead of the news flow.
Wed, Aug. 31, 9:15 AM
Mon, Aug. 8, 6:51 AM
Sun, Aug. 7, 5:30 PM
Fri, May 13, 5:38 PM
Wed, May 11, 11:47 AM
- Kosmos Energy (KOS +5.8%) is upgraded to Strong Buy from Outperform with a $7 price target at Raymond James, which sees the shares as a buying opportunity following Monday's sizeable loss in the wake of its mixed Q1 results.
- The firm believes the selloff was unjustified, and says the stock is pricing in no value for anything outside of the company's operations in Ghana.
- Analyst Pavel Molchanov calculates that at the current share price, the Mauritania/Senegal gas discovery was being valued below $0.05/Mcf while the resource base was 25% higher than expected, thus “the market is treating Mauritania/Senegal as a negative asset."
Mon, May 9, 10:39 AM
- Kosmos Energy (KOS -11.2%) says in its Q1 earnings report that it has made a “significant" gas discovery off Senegal with its Teranga-1 exploration well.
- The well is its fifth consecutive successful exploration and appraisal well in the Mauritania-Senegal fairway, which has resulted in discovering 25T cf and 50T cf potential to be tapped.
- KOS also says it expects its TEN project in Ghana to deliver first oil in Q3 2016; the project is more than 90% complete, and seven of the 11 previously drilled wells have been completed.
Mon, May 9, 6:51 AM
Sun, May 8, 5:30 PM
Tue, May 3, 2:36 PM
- Kosmos Energy (KOS -6.1%) and Chevron (CVX -1.7%) announce a farm-out agreement to sell a one-third ownership interest in the offshore Block 42 contract area near Suriname to Hess (HES -3.4%).
- Financial terms of the deal are not disclosed, but the three companies will own equal one-third stakes once the transaction closes.
- Hess will fully fund a 3-D seismic survey throughout the 6,500 sq. km exploration block as well as paying a disproportionate share of the drilling costs for the first exploration well in the area.
- Now read Hess downgraded at Credit Suisse on valuation
Mon, Feb. 22, 2:19 PM
- Kosmos Energy (KOS +20%) soars after posting a surprise Q4 profit of $0.06/share, beating the analyst consensus estimate of a $0.01 loss even as revenue declined 31% Y/Y to $122M and missing the $161M consensus.
- KOS says it is chopping its 2016 capital spending plan by a fifth to $650M, with $200M to be spent in Ghana, primarily related to the completion of the TEN project, and $250M in Mauritania and Senegal related to the appraisal of the Ahmeyim discovery, the drilling of one oil test in Senegal, and the acquisition of additional seismic.
- KOS says it sold a net 2.8M barrels of oil in Q4 vs. 2.4M barrels in the year-ago quarter, with realized oil revenue including hedging of $67.85/bbl from $80.52/bbl sold in the year-ago quarter; Q4 production expense was $30M, or $10.50/bbl, vs. $46M, or $18.82/bbl, in the year-ago quarter.
Mon, Feb. 22, 12:44 PM
Mon, Feb. 22, 6:59 AM
- Kosmos Energy (NYSE:KOS): Q4 EPS of $0.04 beats by $0.09.
- Revenue of $121.89M (-31.6% Y/Y) misses by $46.03M.
Sun, Feb. 21, 5:30 PM
Tue, Feb. 9, 5:21 PM
- Standard & Poor's downgrades the junk ratings of 25 oil and gas companies on expectations of deteriorating credit quality due to low commodities prices and reduced production.
- The ratings firm, which also affirmed the ratings of an additional 20 speculative-grade E&P companies, says the ratings actions follow a revision of its price assumptions for crude oil and natural gas.
- Among companies receiving downgrades: AREX, BBG, BCEI, BBEP, CWEI, DNR, EPE, EVEP, GST, KOS, LGCY, MEMP, NOG, OAS, REN, SM, SGY, TPLM, UNT, WTI, WLL
- Last week, S&P cut the ratings of 10 U.S. oil and gas E&P companies, including investment-grade Chevron, and placed Exxon's AAA corporate rating on watch for a possible downgrade.