KOS — Kosmos Energy

Stub — needs full research.

Identity

• Company: Kosmos Energy Ltd.
• Ticker: KOS (NYSE)
• Sector: Oil & Gas E&P
• Business: Deepwater oil & gas exploration and production, focused on Atlantic margins (Ghana, Equatorial Guinea, Gulf of Mexico)

Thesis (from intake)

"This puppy ain't going bankrupt because of Brent." Survival thesis — at current Brent prices, KOS generates enough cash to service debt and deleverage. Market pricing in bankruptcy risk that isn't there.

Research needed

• Debt load and maturity schedule — how tight is the balance sheet?
• Breakeven Brent price
• Jubilee / TEN field production trajectory
• Tortue FLNG progress (Mauritania/Senegal — long-delayed)
• Comparison vs SM Energy (similar E&P thesis)