Acquisition of Deep Gulf Energy drives pivot
By Richard Rostad, analyst, Oil & Gas 360

Kosmos Energy (ticker: KOS) announced fourth quarter results and reserves today, showing $189 million in net income, or $0.43 per share.

This is a far better result than the $122 million loss Kosmos reported in Q4 2017, although when derivatives and other special charges are removed the picture is very different. Kosmos reported an adjusted net loss of $39.4 million in Q4 2018, compared to an adjusted loss of $37.9 million in Q4 2017.

Kosmos produced an average of 66.2 MBOEPD in Q4, a company record. Kosmos has tripled both production and reserves from 2016 to 2018, expanding from production exclusively from Ghana to multinational.


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