Q2 2024 Kosmos Energy Ltd Earnings Call Transcript
Key Points
- Kosmos Energy Ltd (KOS) is on track to achieve its year-end production goal of around 90,000 barrels of oil equivalent per day.
- The company has successfully started up the Jubilee Southeast and Winterfell projects, contributing to production growth.
- CapEx is expected to fall sharply as major projects are completed, leading to a significant free cash flow inflection.
- Kosmos Energy Ltd (KOS) plans to use the increased free cash flow to pay down debt and strengthen financial resilience.
- The company is leveraging modern seismic technology to enhance resource potential and capital efficiency in future drilling activities.
- The J-69 well at Jubilee underperformed expectations, impacting overall production levels.
- Water injection issues at Jubilee led to voidage replacement being around 80% compared to the 100% target.
- Full-year production guidance has been lowered to 67,000 to 71,000 barrels of oil equivalent due to the J-69 underperformance and Winterfell startup delay.
- Kosmos Energy Ltd (KOS) expects to lift two fewer Ghana cargoes this year, impacting revenue.
- The company faces challenges in maintaining high infrastructure reliability and water injection levels to achieve planned output.
Good day, everyone. Welcome to the Kosmos Energy's second-quarter 2024 conference call. As a reminder, today's call is being recorded. At this time, let me turn the call over to Jamie Buckland, Vice President, Investor Relations at Kosmos Energy.
Thank you, operator, and thanks to everyone for joining us today. This morning, we issued our second-quarter 2024 earnings release. This release and the slide presentation to accompany today's call are available on the investors page of our website. Joining me on the call today to go through the materials are Andy Inglis, Chairman and CEO; and Neal Shah, CFO.
During today's presentation, we will make forward-looking statements that refer to our estimates, plans, and expectations. Actual results and outcomes could differ materially due to factors we note in this presentation and in our UK and SEC filings. Please refer to our annual report, stock exchange announcement, and SEC filings for more details. These documents are available on our website. And at
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
