Kosmos Energy misses by $0.03, beats on revs (5.72)
- Reports Q4 (Dec) loss of $0.10 per share, $0.03 worse than the Capital IQ Consensus of ($0.07); revenues fell 11.3% year/year to $187.1 mln vs the $182.28 mln Capital IQ Consensus.
- Production expense for the fourth quarter was $46 million, or $15.75 per barrel, versus $44 million, or $14.75 per barrel, in the fourth quarter of 2016. Production expense per barrel increased in the fourth quarter of 2017 compared to the same quarter a year ago primarily because there were no LOPI claim reimbursements received in the fourth quarter of 2017.
- Exploration expenses totaled $53 million for the fourth quarter, compared to $76 million in the same period of 2016 primarily the result of lower geologic and geophysical costs. While Kosmos was carried for the Hippocampe-1 and Lamantin-1 exploration wells, $19 million of expenses related to the drilling rig that are not eligible for reimbursement were expensed during the quarter. Also included in the quarter was $18 million of expense related to our withdrawal from the Boujdour Maritime licenses