Kosmos Energy Q2 Loss Widens - Quick Facts

(RTTNews) - Kosmos Energy Ltd. (KOS) reported a second quarter of 2013 net loss of $71 million, or $0.19 per share, compared to a net loss of $25 million, or $0.07 per share in the second quarter of 2012. The latest-quarter results include the previously announced Sipo-1 charge of $76 million net.

Oil and gas revenue in the second quarter of 2013 was $193 million on the sale of approximately two million barrels of oil versus $112 million in the second quarter of 2012 on the sale of nearly one million barrels of oil. The increase in sales volumes was the result of the successful Jubilee production enhancement programs executed during the second half of 2012. Realized pricing was $99.51 per barrel of oil sold in the second quarter of 2013 versus $112.60 per barrel of oil sold in the second quarter of 2012.

Forecasted capital expenditures for 2013 are expected to increase slightly to $560 million, which reflects the acceleration of the Ireland seismic program, moving it from 2014 to 2013.