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DALLAS - Kosmos Energy (NYSE/LSE: KOS), currently valued at $1.04 billion with shares trading at $2.17, announced Monday that the FLNG Gimi vessel has reached Commercial Operations Date for the Greater Tortue Ahmeyim project offshore Mauritania and Senegal, marking a significant milestone for the liquefied natural gas development. According to InvestingPro analysis, the company maintains a robust gross profit margin of 61% despite operational challenges.
The floating liquefied natural gas vessel, operated by Golar LNG Limited under a 20-year agreement with BP, has successfully ramped up production to approximately 2.4 million tonnes per annum, representing about 90% of its 2.7 million tonnes nameplate capacity.
The achievement follows the project’s first LNG production in February and initial cargo shipment in April. Two additional cargoes were exported in May and early June, with a fourth currently being loaded. Kosmos forecasts a total of 3.5 gross cargos in the second quarter, with a fifth cargo expected at the start of the third quarter. While the company’s revenue reached $1.55 billion in the last twelve months, InvestingPro data reveals significant debt obligations that may impact future operations.
"Achieving COD and the recent ramp up in cargo lifting activity highlights continued strong cooperation between the project partners and Golar," the company stated in a press release.
The Greater Tortue Ahmeyim project represents a significant development in West African energy production, with Kosmos holding interests in the offshore gas field that spans the maritime boundary between Mauritania and Senegal.
Kosmos Energy is a deepwater exploration and production company with diversified oil and gas assets in Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America. With current market dynamics suggesting the stock is undervalued, investors seeking detailed analysis can access comprehensive research reports and additional financial insights through InvestingPro, which offers exclusive access to over 10 key metrics and expert recommendations for this energy sector player.
In other recent news, Kosmos Energy Ltd. reported disappointing financial results for Q1 2025, with earnings per share (EPS) at -$0.22, significantly missing analysts’ forecast of -$0.08. The company’s revenue also fell short, reaching $290.43 million against an expected $336.36 million. This underperformance is attributed to scheduled maintenance activities affecting production levels. In addition to the earnings report, S&P Global Ratings downgraded Kosmos Energy’s credit rating to ’CCC+’ due to rising liquidity pressures and refinancing risks. The agency cited concerns over the company’s unsustainable capital structure under current oil price assumptions and upcoming debt maturities.
Furthermore, Kosmos Energy held its 2025 Annual Meeting of Stockholders, where three Class III directors were elected and Ernst & Young LLP was ratified as the independent auditor for the fiscal year. In a separate development, Kosmos Energy announced a memorandum of understanding with operator Tullow to extend their Ghana licenses until 2040, involving a $2 billion well program in the Jubilee Field. Benchmark analysts maintained a Hold rating on Kosmos Energy, reflecting on the company’s valuation amidst these developments. These recent events highlight the challenges and strategic moves Kosmos Energy is navigating in the current market environment.
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