Kosmos Energy (NYSE:KOS) shares are up Friday following the ratification of license extensions for key oil fields in Ghana.
The news has buoyed investor sentiment as the company continues to expand its operational footprint in the region, while broader markets declined slightly from the previous trading day.
License Details
Kosmos Energy said Ghana's parliament has ratified license extensions for the West Cape Three Points and Deepwater Tano agreements through 2040, a move expected to unlock up to $2 billion in incremental investment and boost domestic gas supply.
Under the amended Jubilee development plan, up to 20 additional wells are planned to grow 2P reserves, with the 2026 five-well campaign already underway. The J75 well encountered approximately 40 meters of net pay and is expected to be online by the end of Q1.
Internationally, the Greater Tortue Ahmeyim LNG project offshore Mauritania and Senegal is producing around 2.9 mtpa, above its 2.7 mtpa nameplate capacity, helping lift companywide output to record levels.
Financially, Kosmos signed a $205 million deal to acquire the TEN fields' FPSO vessel, aiming to lower operating costs from 2026, completed a $350 million Norwegian bond to refinance debt, and hedged 2 million barrels of 2027 production at a $60 per barrel floor.
“As the partnership advances the current drilling program, Jubilee production continues to rise in line with our expectations. With Jubilee output exceeding 70,000 bopd and GTA producing above nameplate capacity, Kosmos’ total production has reached record levels,” commented Andrew G. Inglis, Kosmos Energy’s chairman and chief executive officer.
Short Interest Declines
Short interest in Kosmos Energy fell from 58.13 million shares to 50.24 million in the latest reporting period, representing 12.16% of the public float. With an average daily volume of 14.52 million shares, it would take about 3.46 days for short sellers to cover their positions.
Earnings & Analyst Outlook
Kosmos Energy is set to report earnings on March 2, 2026.
- EPS Estimate: Loss of 13 cents (Down from Loss of 3 cents)
- Revenue Estimate: $328.58 million (Down from $397.66 million)
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $4.84. Recent analyst moves include:
- Goldman Sachs: Neutral (Raises Target to $2.00) (Jan. 30)
- Bernstein: Market Perform (Lowers Target to 80 cents) (Jan. 5)
- Mizuho: Neutral (Lowers Target to $1.50) (Dec. 12, 2025)
KOS Price Action: Kosmos Energy shares were up 13.56% at $2.00 at the time of publication on Friday, according to Benzinga Pro data.
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