Kosmos reports Q4 adjusted EPS (3c), consensus 5c

Reports Q4 revenue $397.66M, consensus $400.89M. Reports Q4 net production 66,800 barrels of oil equivalent per day. Commenting on the company’s 2024 performance, chairman and CEO Andrew Inglis said: “In 2022, we set out a goal to materially grow production from several key projects across our portfolio. 2024 was a year of delivering those projects, with continued 2P reserve growth and production now increasing as the projects ramp up. With the end of this highly capital-intensive period for the company we will now prioritize the generation of free cash flow from our increased production base together with disciplined capital investment. Our forecast 2025 capex budget of $400 million is a reduction of over 50% from recent years.”