Red ink for Kosmos Energy 

U.S.-based oil company Kosmos Energy posted a bigger loss for the first quarter of 2018 when compared to the prior-year period impacted by losses related to oil derivative contracts. 

For the first quarter of 2018, the company generated a net loss of $50.2 million as compared to net loss of $28.8 million in the same period last year.

When adjusted for certain items that impact the comparability of results, the company generated an adjusted net loss of $23.2 million for the first quarter of 2018.

Kosmos Energy’s first quarter 2018 oil revenues were $127.2 million versus $103.4 million in the same quarter of 2017, on sales of 1.9 million barrels of oil in 2018 as compared to 2 million barrels in 2017. Including the impact of the company’s hedging program, hedged revenue was $55.56 per barrel of oil sold in the first quarter of 2018.

First quarter results included a mark-to-market loss of $38 million related to the company’s oil derivative contracts.

Total capital expenditures in the first quarter were $58 million.

Kosmos exited the first quarter of 2018 with approximately $1.3 billion of liquidity and $1.069 billion of net debt.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Navingo Career Event

The Navingo Career Event is Europe’s biggest career event for the maritime…

read more >

Offshore Technology Conference (OTC) 2020 Postponed

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply