Kosmos Energy Ltd.
For the period ended Jun 30, 2026. Filed Aug 3, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 3, 2026
KOS$2.07-1.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Glossary and Select Abbreviations
GLOSSARY AND SELECTED ABBREVIATIONS
The following are abbreviations and definitions of certain terms that may be used in this report. Unless listed below, all defined terms under Rule 4-10(a) of Regulation S-X shall have their statutorily prescribed meanings.
| “2D seismic data” | Two‑dimensional seismic data, serving as interpretive data that allows a view of a vertical cross‑section beneath a prospective area. |
|---|---|
| “3D seismic data” | Three‑dimensional seismic data, serving as geophysical data that depicts the subsurface strata in three dimensions. 3D seismic data typically provides a more detailed and accurate interpretation of the subsurface strata than 2D seismic data. |
| “API” | A specific gravity scale, expressed in degrees, that denotes the relative density of various petroleum liquids. The scale increases inversely with density. Thus lighter petroleum liquids will have a higher API than heavier ones. |
| “ASC” | Financial Accounting Standards Board Accounting Standards Codification. |
| “ASU” | Financial Accounting Standards Board Accounting Standards Update. |
| “Barrel” or “Bbl” | A standard measure of volume for petroleum corresponding to approximately 42 gallons at 60 degrees Fahrenheit. |
| “BBbl” | Billion barrels of oil. |
| “BBoe” | Billion barrels of oil equivalent. |
| “Bcf” | Billion cubic feet. |
| “Boe” | Barrels of oil equivalent. Volumes of natural gas converted to barrels of oil using a conversion factor of 6,000 cubic feet of natural gas to one barrel of oil. |
| “BOEM” | Bureau of Ocean Energy Management. |
| “Boepd” | Barrels of oil equivalent per day. |
| “Bopd” | Barrels of oil per day. |
| “BP” | BP p.l.c. and related subsidiaries. |
| “Bwpd” | Barrels of water per day. |
| “3.125% Convertible Senior Notes” | 3.125% Convertible Senior Notes due 2030. |
| “Debt cover ratio” | The “debt cover ratio” is broadly defined in the Facility, for each applicable calculation date, as the ratio of (x) total long‑term debt and finance lease liabilities less cash and cash equivalents and restricted cash, to (y) the aggregate EBITDAX (see below) of the Company for the previous twelve months. |
| “Developed acreage” | The number of acres that are allocated or assignable to productive wells or wells capable of production. |
| “Development” | The phase in which an oil or natural gas field is brought into production by drilling development wells and installing appropriate production systems. |
| “DST” | Drill stem test. |
| “Dry hole” or “Unsuccessful well” | A well that has not encountered a hydrocarbon bearing reservoir expected to produce in commercial quantities. |
| “DT” | Deepwater Tano. |
| “EBITDAX” | Net income (loss) plus (i) exploration expense, (ii) depletion, depreciation and amortization expense, (iii) equity‑based compensation expense, (iv) unrealized (gain) loss on commodity derivatives (realized losses are deducted and realized gains are added back), (v) (gain) loss on sale of oil and gas properties, (vi) interest (income) expense, (vii) income taxes, (viii) debt modifications and extinguishments, (ix) doubtful accounts expense and (x) similar other material items which management believes affect the comparability of operating results. |
| “ESG” | Environmental, social, and governance. |
| “ESP” | Electric submersible pump. |
| “E&P” | Exploration and production. |
| “Facility” | Facility agreement dated March 28, 2011 (as amended or as amended and restated from time to time). |
| “FASB” | Financial Accounting Standards Board. |
|---|---|
| “Farm‑in” | An agreement whereby a party acquires a portion of the participating interest in a block from the owner of such interest, usually in return for cash and/or for taking on a portion of future costs or other performance by the assignee as a condition of the assignment. |
| “Farm‑out” | An agreement whereby the owner of the participating interest agrees to assign a portion of its participating interest in a block to another party for cash and/or for the assignee taking on a portion of future costs and/or other work as a condition of the assignment. |
| “FEED” | Front End Engineering Design. |
| “Field life cover ratio” | The “field life cover ratio” is broadly defined, for each applicable forecast period, as the ratio of (x) the forecasted net present value of net cash flow through depletion plus the net present value of the forecast of certain capital expenditures incurred in relation to the Ghana assets, to (y) the aggregate loan amounts outstanding under the Facility. |
| “FLNG” | Floating liquefied natural gas vessel. |
| “FPS” | Floating production system. |
| “FPSO” | Floating production, storage and offloading vessel. |
| “GAAP” | Generally Accepted Accounting Principles in the United States of America. |
| “GEPetrol” | Guinea Equatorial De Petroleos. |
| “GHG” | Greenhouse gas. |
| “GNPC” | Ghana National Petroleum Corporation. |
| “GoA field life coverage ratio” | The “GoA field life coverage ratio” is broadly defined, as (a) total PV-10 of the Gulf of America business unit using the Proved or Probable Reserves as set forth in the most recently delivered reserve report to (b) outstanding principal amount of the GoA Term Loan as of such date. |
| “GoA net leverage ratio” | The “GoA net leverage ratio” is broadly defined, as of any date of determination, the ratio of (a) total net debt of the Gulf of America business unit, as of such date to (b) EBITDAX of the Gulf of America business unit for the rolling period ending on such date (or in the case of any calculation of the total net leverage ratio on any date other than the last day of a rolling period, for the most recently ended rolling period for which financial statements are available). |
| “GoA Term Loan Facility” | Senior Secured Term Loan Credit Agreement dated September 24, 2025 |
| “Greater Tortue Ahmeyim” | Ahmeyim and Guembeul discoveries. |
| “GTA Nordic bonds” | 11.250% senior secured bonds due in 2031 in the Nordic Market |
| “GTA UUOA” | Unitization and Unit Operating Agreement covering the Greater Tortue Ahmeyim Unit. |
| “HLS” | Heavy Louisiana Sweet. |
| “Jubilee UUOA” | Unitization and Unit Operating Agreement covering the Jubilee Unit. |
| “Interest cover ratio” | The “interest cover ratio” is broadly defined, for each applicable calculation date, as the ratio of (x) the aggregate EBITDAX (see above) of the Company for the previous twelve months, to (y) interest expense less interest income for the Company for the previous twelve months. |
| “LNG” | Liquefied natural gas. |
| “Loan life cover ratio” | The “loan life cover ratio” is broadly defined, for each applicable forecast period, as the ratio of (x) net present value of forecasted net cash flow through the final maturity date of the Facility plus the net present value of forecasted capital expenditures incurred in relation to the Ghana assets to (y) the aggregate loan amounts outstanding under the Facility. |
| “LSE” | London Stock Exchange. |
| “LTIP” | Long Term Incentive Plan. |
| “MBbl” | Thousand barrels of oil. |
| “MBoe” | Thousand barrels of oil equivalent. |
| “Mcf” | Thousand cubic feet of natural gas. |
| “Mcfe” | Thousand cubic feet of natural gas equivalent. |
| “Mcfpd” | Thousand cubic feet per day of natural gas. |
|---|---|
| “MMBbl” | Million barrels of oil. |
| “MMBoe” | Million barrels of oil equivalent. |
| “MMBtu” | Million British thermal units. |
| “MMcf” | Million cubic feet of natural gas. |
| “MMcfd” | Million cubic feet per day of natural gas. |
| “MMTPA” | Million metric tonnes per annum. |
| “Natural gas liquid” or “NGL” | Components of natural gas that are separated from the gas state in the form of liquids. These include propane, butane, and ethane, among others. |
| “Net debt” | Total long-term debt less cash and cash equivalents and total restricted cash. |
| “NYSE” | New York Stock Exchange. |
| “Petroleum contract” | A contract in which the owner of hydrocarbons gives an E&P company temporary and limited rights, including an exclusive option to explore for, develop, and produce hydrocarbons from the lease area. |
| “Petroleum system” | A petroleum system consists of organic material that has been buried at a sufficient depth to allow adequate temperature and pressure to expel hydrocarbons and cause the movement of oil and natural gas from the area in which it was formed to a reservoir rock where it can accumulate. |
| “Plan of development” or “PoD” | A written document outlining the steps to be undertaken to develop a field. |
| “Productive well” | An exploratory or development well found to be capable of producing either oil or natural gas in sufficient quantities to justify completion as an oil or natural gas well. |
| “Prospect(s)” | A potential trap that may contain hydrocarbons and is supported by the necessary amount and quality of geologic and geophysical data to indicate a probability of oil and/or natural gas accumulation ready to be drilled. The five required elements (generation, migration, reservoir, seal and trap) must be present for a prospect to work and if any of these fail neither oil nor natural gas may be present, at least not in commercial volumes. |
| “Proved reserves” | Estimated quantities of crude oil, natural gas and natural gas liquids that geological and engineering data demonstrate with reasonable certainty to be economically recoverable in future years from known reservoirs under existing economic and operating conditions, as well as additional reserves expected to be obtained through confirmed improved recovery techniques, as defined in SEC Regulation S‑X 4‑10(a)(2). |
| “Proved developed reserves” | Those proved reserves that can be expected to be recovered through existing wells and facilities and by existing operating methods. |
| “Proved undeveloped reserves” | Those proved reserves that are expected to be recovered from future wells and facilities, including future improved recovery projects which are anticipated with a high degree of certainty in reservoirs which have previously shown favorable response to improved recovery projects. |
| “RSC” | Ryder Scott Company, L.P. |
| “SOFR” | Secured Overnight Financing Rate |
| “SEC” | Securities and Exchange Commission. |
| “7.125% Senior Notes” | 7.125% Senior Notes due 2026. |
| “7.750% Senior Notes” | 7.750% Senior Notes due 2027. |
| “7.500% Senior Notes” | 7.500% Senior Notes due 2028. |
| “8.750% Senior Notes” | 8.750% Senior Notes due 2031. |
| “SMH” | Societe Mauritanienne des Hydrocarbures |
| “Stratigraphy” | The study of the composition, relative ages and distribution of layers of sedimentary rock. |
| “Stratigraphic trap” | A stratigraphic trap is formed from a change in the character of the rock rather than faulting or folding of the rock and oil is held in place by changes in the porosity and permeability of overlying rocks. |
| “Structural trap” | A topographic feature in the earth’s subsurface that forms a high point in the rock strata. This facilitates the accumulation of oil and gas in the strata. |
| “TEN” | Tweneboa, Enyenra and Ntomme. |
| “Tortue Phase 1 SPA” | Greater Tortue Ahmeyim Agreement for a Long Term Sale and Purchase of LNG. |
|---|---|
| “Trap” | A configuration of rocks suitable for containing hydrocarbons and sealed by a relatively impermeable formation through which hydrocarbons will not migrate. |
| “Trident” | Trident Energy. |
| “Tullow” | Tullow Oil plc. |
| “Undeveloped acreage” | Lease acreage on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of natural gas and oil regardless of whether such acreage contains discovered resources. |
| “WCTP” | West Cape Three Points. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.