Kosmos Energy Ltd. announced its financial and operating results for the third quarter of 2026 on November 2, 2026. The company reported a net loss of $43 million, or $0.07 per diluted share, for the quarter. However, when adjusted for certain items, the company generated an adjusted net income of $35 million, or $0.06 per diluted share.
Operational performance for the quarter averaged approximately 69,200 barrels of oil equivalent per day (boepd), which was a 6% increase compared to the same period in 2025. The company generated revenues of $410 million and realized an average price of $71.39 per barrel of oil equivalent. Production expenses were reduced to $102 million, a 31% decrease compared to the third quarter of 2025.
On the balance sheet, Kosmos reported net cash provided by operating activities of approximately $164 million and free cash flow of approximately $90 million. The company exited the quarter with approximately $2.47 billion of net debt and approximately $570 million of liquidity. Through the end of the third quarter, the company reduced its net debt by over $500 million and is on track to achieve its 20% debt reduction target for 2026, with year-end net debt expected to be below $2.4 billion.
The company also completed the amendment and extension of its $1.2 billion reserve-based lending (RBL) facility, extending the final maturity to April 2033. Additionally, Kosmos successfully completed a farm-down of its Tiberius project, securing a mix of upfront cash, carry for future capital expenditure, and future milestone payments.
