Kosmos Energy Ltd. (NYSE:KOS) Stock Attempts To Rebound: More To Come?

Kosmos Energy Ltd. (NYSE:KOS) jumped 6.5%, but it is down 34% for the past month. The company has offered an update for its 2021 production, exploration, and development operations of its offshore resources in the US Gulf of Mexico, Equatorial Guinea, and Ghana. Kosmos’ net production in Q2 2021 was 52,000 boepd which was below the company’s guidance because of reduced production in Equatorial Guinea.

Also, gross production in Equatorial Guinea was 29,000 bodp in Q2, with most outages attributed to facility upgrades. In addition, the company commenced drilling of three infill wells scheduled to add around 4,000 bopd in gross production. 

The company had a strong performance in Ghana, where gross production was 106,000 bopd, including 35,000 bopd from TEN offshore Ghana and 71,000 bopd from the Jubilee oilfield. So far, the first two wells of Kosmos’ four-well campaign are already drilled with rig commencing completion operations. US Gulf of Mexico production averaged 20,300 boedp in Q2. In addition, the company completed Tornado-5 infill well drilling, adding up to 10,000 boepd. So in the coming weeks, KOS is a stock to watch.

Market Reaction:

On Wednesday, KOS stock gained 6.58% at $2.43 with more than 11.40 million shares, compared to its average volume of 7.25 million shares. The stock has moved within a range of $2.3100 – 2.5000 after opening the trade at $2.36. Over the past 52-week, the stock has been trading within a range of $0.9000 – 3.9600.