(WO) — Kosmos Energy reported second-quarter net production of approximately 71,400 boed, up 12% from a year earlier, as new Jubilee wells and the continued ramp-up of the Greater Tortue Ahmeyim (GTA) LNG project supported higher output.
The company generated net income of $185 million and adjusted net income of $68 million during the quarter. Revenue totaled $607 million, while operating cash flow reached approximately $175 million and free cash flow totaled $89 million. Kosmos said net debt declined by more than $400 million during the first half of 2026.
At the Jubilee field offshore Ghana, gross oil production averaged about 72,000 bpd during the quarter. Two new wells entered production in June and July, while another well is expected online shortly, lifting Jubilee production above 90,000 bpd. The partners are also working to secure a rig for a 2027–2028 drilling campaign of up to 10 wells.
GTA Phase 1 production averaged approximately 2.65 MMtpa of LNG equivalent during the quarter, with nine gross LNG cargoes lifted. Kosmos said the project is fully ramped up and the partnership is now evaluating additional domestic gas sales in Senegal and Mauritania through the proposed Phase 1+ development.
In the U.S. Gulf of America/Mexico, Kosmos completed a farm-down of the Tiberius project to Navitas Petroleum following final investment decision earlier this year. Kosmos, Navitas and Occidental now each hold roughly one-third interests in the development. Shell is also expected to drill the Trailblazer prospect in early 2027 under a separate strategic alliance with Kosmos in the Norphlet trend.
Kosmos maintained full-year capital expenditure guidance of $350 million and said it remains on track to reduce debt by approximately 20% during 2026.
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