XML 25 R8.htm IDEA: XBRL DOCUMENT
v3.25.3

Organization | 9 Months Ended
--- | ---
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Organization | Organization Kosmos Energy Ltd. is incorporated in the State of Delaware as a holding company for Kosmos Energy Delaware Holdings, LLC, a Delaware limited liability company. As a holding company, Kosmos Energy Ltd.’s management operations are conducted through a wholly-owned subsidiary, Kosmos Energy, LLC. The terms “Kosmos,” the “Company,” “we,” “us,” “our,” “ours,” and similar terms refer to Kosmos Energy Ltd. and its wholly-owned subsidiaries, unless the context indicates otherwise. Kosmos Energy is a leading deepwater exploration and production company focused on meeting the world’s growing demand for energy. We have diversified oil and gas production from assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America. Additionally, in the proven basins where we operate we are advancing high-quality development opportunities, which have come from our exploration success. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. Kosmos is engaged in a single line of business, which is the exploration, development, and production of oil and natural gas. Substantially all of our long-lived assets and all of our product sales are related to operations in four geographic areas: Ghana, Equatorial Guinea, Mauritania/Senegal and the Gulf of America. Going Concern The Company’s consolidated financial statements included herein have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The normal course of business is dependent on, among other things, the Company’s ability to operate profitably, to generate cash flows from operations, and to pursue appropriate financing arrangements to support its working capital requirements. As an example, in July 2025, the Company and the Facility lenders agreed to amend the debt cover ratio required under the Facility to make it less restrictive for the two scheduled financial covenant assessment dates in September 2025 and March 2026, up to a maximum of 4.0x and 4.25x, respectively, and thereafter returns to the originally agreed upon ratio of 3.50x for assessment dates thereafter. This amendment was intended to align the covenant calculation with recent business operations, lower realized oil prices and the impact of pre-production operating costs associated with the GTA Phase 1 project on our results of operations. Following the July 2025 amendment, the Company has continued to experience lower than expected realized oil prices, delayed cargo sales from Jubilee, and a slower GTA LNG production ramp-up, all of which have contributed to a reduction in forecasted EBITDAX and the resulting need to increase unplanned drawn debt levels under the Facility. Management has evaluated the Company’s future liquidity and forecasted operating results and the Company’s ability to comply with the financial covenants under its debt instruments for the next twelve months from the date of issuance of these financial statements, and based on this analysis, there are circumstances under which the Company may not be in compliance with the debt cover ratio under the Facility on the future measurement dates, to be assessed in March 2026 and September 2026. Based on this analysis, management has developed a mitigation plan that, if executed successfully, it believes will satisfy the debt cover ratio under the Facility on the March 2026 and the September 2026 assessment dates. The plan includes actions to reduce operating expenditures at the TEN fields in Ghana, to reduce general and administrative expenses, and the potential monetization of existing hedges to expedite the realization of hedge settlements. We may also consider other potential opportunities or strategic transactions, such as acquisitions and/or dispositions. However, there can be no assurance that this mitigation plan will be successfully executed if needed. In the event the mitigation plan is unsuccessful, failure to satisfy the debt cover ratio covenant under the Facility, without a timely cure, waiver or amendment, would be considered an event of default. If necessary, the Company intends to work with the Facility lenders to waive, modify and/or amend the debt cover ratio, as it has successfully done in the past, but there can be no assurance that the Facility lenders will agree to waive, modify and/or amend the debt cover ratio covenant. If an event of default exists under the Facility and is not otherwise waived by the lenders, then the lenders could take various actions, including cancelling any outstanding commitments and accelerating the maturity of amounts due thereunder, among other things. An acceleration of amounts due under the Facility could also trigger the cross-default provisions under our Senior Notes and the GoA Term Loan Facility.

X
- Definition The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482836/275-10-55-4 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482836/275-10-55-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1 + Details
Name: | us-gaap_NatureOfOperations
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration