Kosmos Energy Ltd 2024年度报告
AI智能总结
We are a leading deepwaterexploration and production companyfocused on meeting the world’sgrowing demand for energy. AT KOSMOSENERGY, OURPURPOSE ISCLEAR. We have diversified oil and gasproduction from key assets offshoreGhana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America. In the proven basins wherewe operate, we are advancing high-quality developmentopportunities that have come from our exploration success. As we deliver the energy the world needs today and tomorrow,we strive to be a force for good in our host countries,accelerating economic and social progress. Fellow Shareholders, OPERATING THE RIGHT WAY The last twelve months have seen the energy sectorundergo a recalibration. While most nations continueto support the Paris Agreement’s 1.5°C target, there isgrowing acknowledgment that significant quantitiesof oil and gas will be required to support modernlife for many years to come. The just, orderly, andequitable energy transition we all want may takelonger to achieve than many people were onceinclined to admit. This pragmatic reassessmentresonates in our African host countries, where leaderscontinue to seek the energy investment so crucial forindustrialization, economic growth, and job creationfor their expanding populations. A key part of our strategy is our ongoing commitmentto operating responsibly. Our low-cost, lower carbonoil and gas production positions us as a reliable andresponsible producer – balancing energy securityand affordability with the need to reduce emissions.Kosmos earned MSCI’s highest possible “AAA” ratingfor the third consecutive year, which puts us in thetop 20% of companies across our sector. Similarly,Newsweek and Statista named Kosmos one ofAmerica’s Most Responsible Companies for the fifthconsecutive year. Kosmos is well-positioned to generate sustainablevalue for shareholders. We offer investors a clearpurpose, consistent strategy, top-quality assets withgreater than 20 years of 2P reserves/productionlife, unique exposure to world-scale gas and LNGprojects, strong cash generation, and an importantrole in enabling a just and orderly energy transition inthe countries where we work. CLEAR AND CONSISTENT STRATEGY Our clear and consistent strategy, predicated on theworld’s growing demand for secure, affordable, andcleaner energy, has enabled Kosmos to navigatethese changes with resilience and foresight. With oilproduction from our advantaged assets in Ghana,the Gulf of America, and Equatorial Guinea, we aresupplying the world with the energy it needs today. In a time of unpredictability, we endeavor to use theforesight and resilience built across the companyto navigate a path to success. We look forward tosharing more at our annual meeting. On behalf ofthe entire board of directors, I thank you for yourparticipation, continued trust and support. Equally, we remain focused on the energy needs ofthe future. We have started production at the GreaterTortue Ahmeyim liquified natural gas (LNG) projectoffshore Mauritania and Senegal. This establishes anew Atlantic Basin LNG hub ideally located to supplyEuropean markets and, importantly, provide gas fordomestic use. As energy demand grows around theworld, gas and LNG will be critical in the shift to alower-carbon future. With a world-scale gas resourcenow in production for many years to come, and withroom to grow, Kosmos is well-positioned to capitalizeon the world’s current and future energy needs andcreate long-term, sustainable value. Sincerely yours, PRIORITIZING FREE CASH FLOW ANDREW G. INGLISChairman andChief Executive Officer In 2022, we set ourselves the goal of materiallygrowing production from key projects across theportfolio. 2024 marks the end of a capital-intensiveperiod for the company. We are now prioritizing thegeneration of free cash flow through maximizingrevenue and disciplined capital investment. Ourforecast 2025 capital expenditure is expected tobe $400 million or less – a reduction of over 50%compared to recent years. Additionally, as a part of rigorous cost management,Kosmos is pursuing a reduction in annual overheadof around $25 million by year-end 2025. With higherproduction, lower capital expenditure, and reducedoverhead, we are targeting the generation ofsustainable free cash which will enable us to reduceour absolute debt and leverage, further enhancing thecompany’s financial resilience. Financial Highlights EBITDAX RECONCILIATION )" ('(('')& ( '", "#!! '' #"+.?56:4@;:#&! '20A>6@62?>246?@2>21<A>?A.:@@;'20@6;:4;3@520@";:2 $E;@:8K<9P:?<:BD8IB@=K?<I<>@JKI8EK@J8N<CCBEFNEJ<8JFE<;@JJL<I 8J;<=@E<;@E-LC<F=K?<.<:LI@K@<J :K4<J)F $E;@:8K<9P:?<:BD8IB@=K?<I<>@JKI8EK@JEFKI<HL@I<;KF=@C<I<GFIKJGLIJL8EKKF.<:K@FEFI.<:K@FE; F=K?< :K4<J)F $E;@:8K<9P:?<:BD8IBN?<K?<IK?<I<>@JKI8EK ?8J=@C<;8CCI<GFIKJI<HL@I<;KF9<=@C<;9P.<:K@FEFI; F=K?<.<:LI@K@<JO:?
