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Business Segment Information | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information Kosmos is engaged in a single line of business, which is the exploration, development and production of oil and gas. At September 30, 2025, the Company had operations in four geographic reporting segments: Ghana, Equatorial Guinea, Mauritania/Senegal and the Gulf of America. The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer, who makes decisions about allocating resources and assessing performance for the entire company. To assess performance of the reporting segments, the CODM regularly reviews oil and gas revenues, oil and gas production costs, exploration expenses and capital expenditures by reporting segment in deciding how to allocate resources and in assessing performance. Capital expenditures, as defined by the Company, may not be comparable to similarly titled measures used by other companies and should be considered in conjunction with our consolidated financial statements and notes thereto. Financial information for each area is presented below:
| Ghana |  | Equatorial Guinea |  | Mauritania/Senegal |  | Gulf of America |  | Corporate & Other |  | Eliminations |  | Total
| (In thousands)
Three months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income: |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas revenue | $ | 141,146 |  |  | $ | 41,777 |  |  | $ | 39,343 |  |  | $ | 88,693 |  |  | $ | — |  |  | $ | — |  |  | $ | 310,959 |
Other income, net | 269 |  |  | — |  |  | — |  |  | 19 |  |  | 8,683 |  |  | (8,701) |  |  | 270 |
Total revenues and other income | 141,415 |  |  | 41,777 |  |  | 39,343 |  |  | 88,712 |  |  | 8,683 |  |  | (8,701) |  |  | 311,229 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas production | 22,871 |  |  | 33,700 |  |  | 59,401 |  |  | 31,724 |  |  | — |  |  | — |  |  | 147,696 |
Exploration expenses | — |  |  | (211) |  |  | 1,944 |  |  | 53,134 |  |  | 81 |  |  | — |  |  | 54,948 |
General and administrative | 2,771 |  |  | 816 |  |  | 1,930 |  |  | 1,480 |  |  | 18,237 |  |  | (12,348) |  |  | 12,886 |
Depletion, depreciation and amortization | 43,180 |  |  | 19,658 |  |  | 21,728 |  |  | 56,812 |  |  | 136 |  |  | — |  |  | 141,514 |
Interest and other financing costs, net(1) | 13,723 |  |  | (38) |  |  | 5,814 |  |  | (2,187) |  |  | 40,607 |  |  | — |  |  | 57,919 |
Derivatives, net | — |  |  | — |  |  | — |  |  | — |  |  | (3,646) |  |  | — |  |  | (3,646) |
Other expenses, net | (2,135) |  |  | 6,132 |  |  | 421 |  |  | (1,821) |  |  | 141 |  |  | 3,646 |  |  | 6,384 |
Total costs and expenses | 80,410 |  |  | 60,057 |  |  | 91,238 |  |  | 139,142 |  |  | 55,556 |  |  | (8,702) |  |  | 417,701 |
Income (loss) before income taxes | 61,005 |  |  | (18,280) |  |  | (51,895) |  |  | (50,430) |  |  | (46,873) |  |  | 1 |  |  | (106,472) |
Income tax expense | 22,103 |  |  | (3,933) |  |  | — |  |  | — |  |  | (343) |  |  | — |  |  | 17,827 |
Net income (loss) | $ | 38,902 |  |  | $ | (14,347) |  |  | $ | (51,895) |  |  | $ | (50,430) |  |  | $ | (46,530) |  |  | $ | 1 |  |  | $ | (124,299) |
Consolidated capital expenditures, net | $ | 23,561 |  |  | $ | 6,099 |  |  | $ | 6,761 |  |  | $ | 30,026 |  |  | $ | 889 |  |  | $ | — |  |  | $ | 67,336 |
| Ghana |  | Equatorial Guinea |  | Mauritania/Senegal |  | Gulf of America |  | Corporate & Other |  | Eliminations |  | Total
| (In thousands)
Nine months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income: |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas revenue | $ | 497,104 |  |  | $ | 140,774 |  |  | $ | 62,279 |  |  | $ | 293,572 |  |  | $ | — |  |  | $ | — |  |  | $ | 993,729 |
Gain on sale of assets | — |  |  | — |  |  | — |  |  | 600 |  |  | — |  |  | — |  |  | 600 |
Other income, net | 768 |  |  | — |  |  | — |  |  | 728 |  |  | 69,352 |  |  | (69,999) |  |  | 849 |
Total revenues and other income | 497,872 |  |  | 140,774 |  |  | 62,279 |  |  | 294,900 |  |  | 69,352 |  |  | (69,999) |  |  | 995,178 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas production | 159,539 |  |  | 90,635 |  |  | 186,643 |  |  | 121,305 |  |  | — |  |  | — |  |  | 558,122 |
Exploration expenses | 70 |  |  | 1,258 |  |  | 5,681 |  |  | 60,279 |  |  | 1,398 |  |  | — |  |  | 68,686 |
General and administrative | 8,959 |  |  | 3,787 |  |  | 7,033 |  |  | 9,933 |  |  | 116,983 |  |  | (88,480) |  |  | 58,215 |
Depletion, depreciation and amortization | 131,620 |  |  | 62,226 |  |  | 37,322 |  |  | 181,851 |  |  | 430 |  |  | — |  |  | 413,449 |
Interest and other financing costs, net(1) | 38,107 |  |  | (167) |  |  | 10,216 |  |  | (6,348) |  |  | 122,787 |  |  | — |  |  | 164,595 |
Derivatives, net | — |  |  | — |  |  | — |  |  | — |  |  | (18,480) |  |  | — |  |  | (18,480) |
Other expenses, net | (8,022) |  |  | 815 |  |  | 1,569 |  |  | 1,442 |  |  | 570 |  |  | 18,480 |  |  | 14,854 |
Total costs and expenses | 330,273 |  |  | 158,554 |  |  | 248,464 |  |  | 368,462 |  |  | 223,688 |  |  | (70,000) |  |  | 1,259,441 |
Income (loss) before income taxes | 167,599 |  |  | (17,780) |  |  | (186,185) |  |  | (73,562) |  |  | (154,336) |  |  | 1 |  |  | (264,263) |
Income tax expense (benefit) | 60,772 |  |  | (3,042) |  |  | — |  |  | (14) |  |  | 666 |  |  | — |  |  | 58,382 |
Net income (loss) | $ | 106,827 |  |  | $ | (14,738) |  |  | $ | (186,185) |  |  | $ | (73,548) |  |  | $ | (155,002) |  |  | $ | 1 |  |  | $ | (322,645) |
Consolidated capital expenditures, net | $ | 80,257 |  |  | $ | 8,657 |  |  | $ | 68,879 |  |  | $ | 79,539 |  |  | $ | 2,299 |  |  | $ | — |  |  | $ | 239,631 |
As of September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment, net | $ | 946,479 |  |  | $ | 435,986 |  |  | $ | 2,092,629 |  |  | $ | 716,712 |  |  | $ | 16,729 |  |  | $ | — |  |  | $ | 4,208,535 |
Total assets | $ | 3,341,717 |  |  | $ | 2,477,126 |  |  | $ | 3,405,756 |  |  | $ | 2,714,156 |  |  | $ | 26,831,583 |  |  | $ | (33,680,597) |  |  | $ | 5,089,741 |
______________________________________ (1)Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside.
| Ghana |  | Equatorial Guinea |  | Mauritania/Senegal |  | Gulf of America |  | Corporate & Other |  | Eliminations |  | Total
| (In thousands)
Three months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income: |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas revenue | $ | 233,348 |  |  | $ | 70,970 |  |  | $ | — |  |  | $ | 103,476 |  |  | $ | — |  |  | $ | — |  |  | $ | 407,794 |
Other income, net | — |  |  | — |  |  | — |  |  | 543 |  |  | 23,160 |  |  | (23,666) |  |  | 37 |
Total revenues and other income | 233,348 |  |  | 70,970 |  |  | — |  |  | 104,019 |  |  | 23,160 |  |  | (23,666) |  |  | 407,831 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas production | 26,955 |  |  | 37,237 |  |  | 39,685 |  |  | 29,594 |  |  | — |  |  | — |  |  | 133,471 |
Exploration expenses | 1,413 |  |  | 1,881 |  |  | 4,633 |  |  | 5,380 |  |  | 1,390 |  |  | — |  |  | 14,697 |
General and administrative | 3,004 |  |  | 1,282 |  |  | 3,301 |  |  | 3,725 |  |  | 50,905 |  |  | (38,919) |  |  | 23,298 |
Depletion, depreciation and amortization | 47,919 |  |  | 15,003 |  |  | 233 |  |  | 56,496 |  |  | 1,077 |  |  | — |  |  | 120,728 |
Interest and other financing costs, net(1) | 13,408 |  |  | (810) |  |  | (37,043) |  |  | (2,309) |  |  | 48,866 |  |  | — |  |  | 22,112 |
Derivatives, net | — |  |  | — |  |  | — |  |  | — |  |  | (15,254) |  |  | — |  |  | (15,254) |
Other expenses, net | (15,166) |  |  | 157 |  |  | 881 |  |  | 1,040 |  |  | 62 |  |  | 15,253 |  |  | 2,227 |
Total costs and expenses | 77,533 |  |  | 54,750 |  |  | 11,690 |  |  | 93,926 |  |  | 87,046 |  |  | (23,666) |  |  | 301,279 |
Income (loss) before income taxes | 155,815 |  |  | 16,220 |  |  | (11,690) |  |  | 10,093 |  |  | (63,886) |  |  | — |  |  | 106,552 |
Income tax expense (benefit) | 55,350 |  |  | 6,455 |  |  | — |  |  | 564 |  |  | (791) |  |  | — |  |  | 61,578 |
Net income (loss) | $ | 100,465 |  |  | $ | 9,765 |  |  | $ | (11,690) |  |  | $ | 9,529 |  |  | $ | (63,095) |  |  | $ | — |  |  | $ | 44,974 |
Consolidated capital expenditures, net | $ | 16,583 |  |  | $ | 51,056 |  |  | $ | 75,997 |  |  | $ | 63,820 |  |  | $ | 2,552 |  |  | $ | — |  |  | $ | 210,008 |
| Ghana |  | Equatorial Guinea |  | Mauritania/Senegal |  | Gulf of America |  | Corporate & Other |  | Eliminations |  | Total
| (In thousands)
Nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues and other income: |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas revenue | $ | 821,880 |  |  | $ | 188,917 |  |  | $ | — |  |  | $ | 267,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,277,797 |
Other income, net | 1 |  |  | — |  |  | — |  |  | 2,028 |  |  | 123,674 |  |  | (125,594) |  |  | 109 |
Total revenues and other income | 821,881 |  |  | 188,917 |  |  | — |  |  | 269,028 |  |  | 123,674 |  |  | (125,594) |  |  | 1,277,906 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas production | 123,250 |  |  | 97,942 |  |  | 57,851 |  |  | 98,779 |  |  | — |  |  | — |  |  | 377,822 |
Exploration expenses | 3,665 |  |  | 5,263 |  |  | 13,880 |  |  | 13,392 |  |  | 3,792 |  |  | — |  |  | 39,992 |
General and administrative | 9,882 |  |  | 4,027 |  |  | 8,567 |  |  | 15,097 |  |  | 159,028 |  |  | (119,877) |  |  | 76,724 |
Depletion, depreciation and amortization | 144,609 |  |  | 38,895 |  |  | 684 |  |  | 125,765 |  |  | 1,797 |  |  | — |  |  | 311,750 |
Interest and other financing costs, net(1) | 39,204 |  |  | (2,406) |  |  | (107,808) |  |  | (10,702) |  |  | 157,551 |  |  | — |  |  | 75,839 |
Derivatives, net | — |  |  | — |  |  | — |  |  | — |  |  | 5,716 |  |  | — |  |  | 5,716 |
Other expenses, net | 5,817 |  |  | (2,197) |  |  | 6,111 |  |  | 2,358 |  |  | 45 |  |  | (5,716) |  |  | 6,418 |
Total costs and expenses | 326,427 |  |  | 141,524 |  |  | (20,715) |  |  | 244,689 |  |  | 327,929 |  |  | (125,593) |  |  | 894,261 |
Income (loss) before income taxes | 495,454 |  |  | 47,393 |  |  | 20,715 |  |  | 24,339 |  |  | (204,255) |  |  | (1) |  |  | 383,645 |
Income tax expense (benefit) | 170,060 |  |  | 19,019 |  |  | — |  |  | 644 |  |  | (2,508) |  |  | — |  |  | 187,215 |
Net income (loss) | $ | 325,394 |  |  | $ | 28,374 |  |  | $ | 20,715 |  |  | $ | 23,695 |  |  | $ | (201,747) |  |  | $ | (1) |  |  | $ | 196,430 |
Consolidated capital expenditures, net | $ | 128,247 |  |  | $ | 129,296 |  |  | $ | 287,193 |  |  | $ | 161,555 |  |  | $ | 5,360 |  |  | $ | — |  |  | $ | 711,652 |
As of September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment, net | $ | 1,031,498 |  |  | $ | 523,312 |  |  | $ | 2,177,621 |  |  | $ | 945,138 |  |  | $ | 16,866 |  |  | $ | — |  |  | $ | 4,694,435 |
Total assets | $ | 3,514,342 |  |  | $ | 2,310,092 |  |  | $ | 3,209,803 |  |  | $ | 4,074,383 |  |  | $ | 25,174,519 |  |  | $ | (32,812,193) |  |  | $ | 5,470,946 |
______________________________________ (1)Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside.
| Nine Months Ended September 30, |
| 2025 |  | 2024 |
| (In thousands) |
Consolidated capital expenditures: |  |  |  |
Consolidated Statements of Cash Flows - Investing activities: |  |  |  |
Oil and gas assets | $ | 244,133 |  |  | $ | 772,238 |  |
Adjustments: |  |  |  |
Changes in capital accruals | (19,642) |  |  | 25,108 |  |
Exploration expense, excluding unsuccessful well costs and leasehold impairments(1) | 17,314 |  |  | 36,120 |  |
Capitalized interest | (12,920) |  |  | (126,007) |  |
Other | 10,746 |  |  | 4,193 |  |
Total consolidated capital expenditures, net | $ | 239,631 |  |  | $ | 711,652 |  |
______________________________________ (1)Costs related to unsuccessful exploratory wells and leaseholds that are subsequently written off to Exploration expense are included in oil and gas assets when incurred.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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