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Acquisitions and Divestitures | 6 Months Ended
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Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Acquisitions and Divestitures | Acquisitions and Divestitures On February 24, 2026, the Company entered into a Share Sale and Purchase Agreement with a subsidiary of Panoro Energy ASA for the sale of all of our 40.4% participating interest in the Ceiba Field and Okume Complex production assets located in Block G offshore Equatorial Guinea. The transaction closed on June 16, 2026. Pursuant to the terms of the purchase agreement, Kosmos received final cash consideration of approximately $127.0 million, based on the initial purchase price of $180.0 million reduced by certain purchase price adjustments totaling approximately $53.0 million. The Company is also entitled to future contingent consideration of up to $39.5 million, comprised of $12.5 million linked to future production performance at the Ceiba field, and $9.0 million payable in each of the years 2027, 2028 and 2029, subject to certain production and oil price thresholds. The proceeds from the transaction were used to repay borrowings under the Facility in June 2026. Management considers the assets and liabilities in the Ceiba Field and Okume Complex production assets located in Block G offshore Equatorial Guinea included in the Share Sale and Purchase Agreement as a disposal group. The disposal group had previously been classified as held for sale. The following table summarizes the carrying amounts of the major classes of assets and liabilities included in the disposal group as of the date of sale:
| As of date of sale
| (In thousands)
Assets |
Current assets: |
Cash and cash equivalents | $ | — |
Receivables | — |
Inventories | 9,100 |
Prepaid expenses and other | 737 |
Total current assets | 9,837 |
Non-current assets: |
Property and equipment, net | 410,458 |
Total non-current assets | 410,458 |
Total assets of disposal group | $ | 420,295 |
Liabilities |
Current liabilities: |
Accounts Payable | $ | 34,376 |
Accrued Liabilities | — |
Total current liabilities | 34,376 |
Long-term Liabilities |
Asset retirement obligations | 142,211 |
Deferred tax liabilities | 126,092 |
Total long-term liabilities | 268,303 |
Total liabilities of disposal group | $ | 302,679 |
Upon closing, the Company recognized a gain on sale of assets of approximately $9.4 million, representing the excess of net proceeds received over the carrying value of the disposal group. The Company evaluated the future contingent consideration and determined that no amounts were recognized at closing as realization is contingent upon future production and commodity price conditions. Any contingent consideration will be recognized when realized. The divestiture does not meet the criteria to be reported as discontinued operations as it does not represent a strategic shift for the Company. Accordingly, the operating results for the disposal group are included in continuing operations in the Company’s Consolidated Statement of Operations through the date of sale in June 2026.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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