Pulse.com.gh logo
Go


Jubilee Field Partners Kosmos Energy records massive loss for second year running

This would be the second year running, that Kosmos Energy is recording a loss, after 2014’s loss of $75.2 million.

  • Published:
Kosmos Energy play

Kosmos Energy

One of Ghana’s oil exploration partners, Kosmos Energy Ltd, has recorded a massive loss of $108.3 million, culminating in a $0.28 per share.

This would be the second year running, that Kosmos Energy is recording a loss, after 2014’s loss of $75.2 million.

Andrew G. Inglis, Chief Executive Officer of Kosmos Energy, says the company is currently at a turning point in its existence where production is being increased at the detriment of capital requirements.

READ MORE:Oil Fields TEN to pump 23,000 oil barrels daily

“Kosmos is well positioned to deliver value from both our discovered gas resource offshore Mauritania and Senegal, as well as from new high-graded opportunities our team has identified.”

Second quarter 2016 oil revenues were $46 million, a drastic reduction on the $119 million recorded in the same quarter of 2015.


Realized oil revenue, including the impact of the company’s hedging programme, was $95.61 per barrel of oil sold in the second quarter of 2016 compared to $82.96 per barrel of oil sold in the year-ago quarter.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Ponzi schemes in Ghana These investments are Ponzi schemes in Ghana, so...bullet
2 Donor Support World Bank injects $60m into Ghana’s energy, tourism sectorsbullet
3 How to make money online Online jobs; how to make money on YouTube...bullet
4 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
5 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
6 Salaries In 2018 Here are the dates public workers will be...bullet
7 Education Top 5 private high schools in Ghana according to WAECbullet
8 Menzgold Ghana Investment company closes down its Gold...bullet
9 Number 12 Panic withdrawals hit savings & loans company...bullet
10 Cost of Fuel IES predicts increase in fuel prices this...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 Plane Crash Starbow suspends operations following plane crashbullet
4 Tech 6 reasons you should buy an iPhone SE instead of any of the...bullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 New Discovery Ghana discovers new mineral, lithium in...bullet
7 Support Finance minister buys Kantanka carbullet
8 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
9 New Phone Nokia’s MWC 2018 event in 7 minutesbullet
10 New Phones Nokia MWC 2018 Event in 5 minutesbullet

Business