Kosmos Energy Ltd. (KOS) gained 4.33% to trade at $2.41 in after-hours trading on Friday. Kosmos closed at $2.31 after falling -7.23% during the regular session. There were 9.56 million shares traded of KOS stock, which is a larger amount than the average volume for the past three months of 7.02 million shares. During the regular session, KOS fluctuated from $2.30 to $2.60.
With an earnings ratio of -0.79, KOS had negative earnings per share. On a year-to-date basis, KOS stock has lost -1.70% but the loss rises to -24.51% in the past five sessions. As of Friday, KOS has an SMA-50 of $3.20, higher than its 200-day moving average of $2.54. Also, the RSI of KOS trades at 28.65.
As KOS stock recovered in the extended trades when no new information was available, so there may be some reason to believe that recent developments will reveal new information about the KOS.
What has been happening at KOS lately?
Kosmos is an independent deepwater oil and gas exploration and production company focusing on the Atlantic Margin. One of KOS’s key assets is a world-class gas development offshore Mauritania and Senegal, as well as production offshore Ghana, Equatorial Guinea, and the Gulf of Mexico. In keeping with its ethical, transparent, and professional ethos, KOS does things the right way. The KOS Business Principles identify the company’s commitment to transparency, ethics, human rights, environmental protection, and safety.
A recent operational report by Kosmos Energy elaborated upon the company’s production, development, and exploration activities.
- It is ahead of KOS’ financial results for the second quarter, which will be released on August 9, 2021.
- With infill drilling planned in all three hubs, KOS has an active second half of the year, which is supportive of near-term production growth.
- As well, KOS plans to relaunch exploration and appraisal drilling for the Winterfell appraisal well and Zora ILX well this quarter.
- KOS is in a strong position to create shareholder value throughout the rest of 2021 as oil prices rise and its financial position strengthens.
- In line with guidance, KOS’ sales volumes in the second quarter averaged 66,000 barrels of oil equivalent per day (boepd), with 4.5 cargos lifted.
- During the second quarter, net production at KOS averaged approximately 52,000 boepd, a modest decline primarily due to lower production in Equatorial Guinea.
- KOS plans to produce 53,000 to 57,000 boepd for the full year, with an additional 60,000 boepd expected to be produced from new wells by year-end.
How does KOS anticipate the second quarter?
As a result of higher sales volumes, strong operational performance in Ghana, and rising realized oil prices, Kosmos (KOS) generated positive cash flow in the second quarter that helped to reduce its net debt by around $100 million. With a new drilling rig has been sent to Equatorial Guinea for development drilling, and two new oil wells were drilled in Ghana and the U.S. Gulf of Mexico, KOS has been seeing increase in production across its hubs during the quarter.
