Kosmos Energy reported second-quarter net production of approximately 71,400 barrels of oil equivalent per day, up 12% from a year earlier, as new wells at Ghana’s Jubilee field and the continued ramp-up of the Greater Tortue Ahmeyim LNG project offshore Senegal and Mauritania drove higher output.
The company posted net income of $185 million and adjusted net income of $68 million for the quarter, on revenue of $607 million. Operating cash flow reached approximately $175 million and free cash flow totalled $89 million, while net debt declined by more than $400 million over the first half of 2026.
At Jubilee, gross oil production averaged about 72,000 barrels per day during the quarter. Two new wells came online in June and July, with another expected shortly, pushing Jubilee output above 90,000 bpd; partners are now working to secure a rig for a 2027-2028 campaign of up to 10 additional wells. GTA Phase 1 averaged roughly 2.65 million tonnes per annum of LNG equivalent, with nine cargoes lifted during the quarter, and Kosmos said the project is fully ramped up as the partnership evaluates additional domestic gas sales in Senegal and Mauritania through a proposed Phase 1+ expansion.
In the US Gulf of America/Mexico, Kosmos completed a farm-down of its Tiberius project to Navitas Petroleum following an earlier final investment decision, leaving Kosmos, Navitas and Occidental each holding roughly a third of the development. Kosmos maintained full-year capital expenditure guidance of $350 million and said it remains on track to cut debt by about 20% during 2026.
Source: worldoil.com