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Kosmos Energy (KOS) guidance and outlook
Kosmos Energy (KOS) reaffirmed its guidance on Nov 2, 2026: Capital expenditures $350M for FY2026; Operating expenses +61% for Q4 2026; Operating expenses $10.0M–$15.0M for Q4 2026; Interest expense $50.0M–$55.0M for Q4 2026. Kosmos Energy's 10-Q filed Nov 2, 2026 makes 14 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Capital expenditures | FY2026 | $350M | reaffirmed |
| Operating expenses | Q4 2026 | +61% | new |
| Operating expenses | Q4 2026 | $10.0M–$15.0M | new |
| Interest expense | Q4 2026 | $50.0M–$55.0M | new |
| Capital expenditures | Q4 2026 | $50.0M–$75.0M | new |
| Revenue | Q4 2026 | $950K | new |
From the earnings release filed Nov 2, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 2, 2026
- We achieved a final investment decision in March 2026 with first oil targeted in the second half of 2028.
- In July 2026, Kosmos and Occidental completed a farm-down transaction with Navitas Petroleum US, LLC, resulting in Navitas acquiring a 33.33% interest in the project alongside Kosmos (33.34%) and Occidental (33.33%), an owner and operator of the host facility.
- The Company maintains insurance coverage that it expects will offset a significant portion of any remediation costs that may be incurred to restore the Winterfell-2 well to normal operations.
- We are actively engaged in an ongoing process of anticipating and meeting our funding requirements related to our strategy as a deepwater exploration and production company.
- Our investment decisions are based on longer-term commodity prices based on the nature of our projects and development plans.
- Current commodity prices, combined with our hedging program and our current liquidity position is expected to support our remaining capital program for 2026.
- For our capital expenditure budget for the last quarter of 2026, we expect to incur capital costs as we advance development efforts in Ghana, the Gulf of America and in Mauritania and Senegal.
- These include the number of wells we plan to drill, our paying interests in our operations including disproportionate payment amounts, the costs involved in developing or participating in the development of a prospect, the timing of third‑party projects, the availability of suitable equipment and qualified personnel and our cash flows from operations.
- We may need to raise additional funds more quickly if market conditions deteriorate, or one or more of our assumptions proves to be incorrect, or if we choose to expand our acquisition, exploration, appraisal, development efforts or any other activity more rapidly than we presently anticipate.
- We estimate we will spend in aggregate around $350 million of capital for the year ending December 31, 2026, excluding any acquisitions or divestitures of oil and gas properties during the year.
- The ultimate amount of capital we will spend may fluctuate materially based on market conditions and the success of our exploitation and drilling results among other factors.
- Based on our monitoring activities, we currently believe our banks will be able to perform on their commitments.
Kosmos Energy's latest quarter
Kosmos Energy, Q3 2026: revenue $410M (+32% year over year), operating margin -6.6%, net loss $43.0M, operating cash flow $164M. The chart follows the revenue to costs, profit and cash.
Questions
Did Kosmos Energy raise or lower its guidance?
Kosmos Energy (KOS) reaffirmed its guidance on Nov 2, 2026: Capital expenditures $350M for FY2026; Operating expenses +61% for Q4 2026; Operating expenses $10.0M–$15.0M for Q4 2026; Interest expense $50.0M–$55.0M for Q4 2026.
What does Kosmos Energy expect?
We achieved a final investment decision in March 2026 with first oil targeted in the second half of 2028. In July 2026, Kosmos and Occidental completed a farm-down transaction with Navitas Petroleum US, LLC, resulting in Navitas acquiring a 33.33% interest in the project alongside Kosmos (33.34%) and Occidental (33.33%), an owner and operator of the host facility. The Company maintains insurance coverage that it expects will offset a significant portion of any remediation costs that may be incurred to restore the Winterfell-2 well to normal operations.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.