Kosmos Energy Ignites First Gas At West Africa LNG Project: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 02 2025
0mins
Source: Benzinga
Kosmos Energy's Gas Production Start: Kosmos Energy Ltd. announced the commencement of gas production at the Greater Tortue Ahmeyim LNG project, with Phase 1 expected to produce 2.3 million tonnes of LNG annually, marking a significant milestone for the partnership and West Africa's LNG ambitions.
Financial Outlook and Stock Performance: Following the announcement, KOS shares rose by 3.22% in premarket trading, while the company aims to enhance financial resilience through disciplined capital allocation and reducing leverage as it ramps up production towards its target of ~90,000 boepd.
Analyst Views on KOS
Wall Street analysts forecast KOS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for KOS is 2.16 USD with a low forecast of 0.80 USD and a high forecast of 4.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
3 Buy
5 Hold
1 Sell
Hold
Current: 1.300
Low
0.80
Averages
2.16
High
4.00
Current: 1.300
Low
0.80
Averages
2.16
High
4.00
About KOS
Kosmos Energy Ltd. is a deepwater exploration and production company. The Company has diversified oil and gas production from assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America. The Company's Ghana operations include Jubilee Field and TEN Fields. The Jubilee Field straddles both the West Cape Three Points and Deepwater Tano blocks. The Company has interests in the Ceiba Field and Okume Complex production assets located offshore Equatorial Guinea. It also has interests in EG-01, EG-24 and S blocks that are located in the southern part of the Gulf of Guinea. Its Greater Tortue Ahmeyim Project is an offshore liquified natural gas project in Mauritania and Senegal. In Senegal, it has participating interests in the Cayar Offshore Profond Block. Its key fields in the Gulf of America include Odd Job, Tornado, Kodiak, Winterfell and Tiberius. It is an operator for the petroleum contract covering Block 5, offshore Sao Tome and Principe in the Gulf of Guinea.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
