0001509991-23-000071 | 10-Q | XBRL Viewer

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of components of income (loss) before income taxes

Income before income taxes is composed of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
United States	$	(24,529)	$	52,381	$	(49,123)	$	61,664
Foreign	77,712		141,770		241,938		145,340
Income before income taxes	$	53,183	$	194,151	$	192,815	$	207,004

Debt

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Debt


	June 30, 2023		December 31, 2022
	(In thousands)
Outstanding debt principal balances:
Facility	$	775,000	$	625,000

7.125% Senior Notes	650,000		650,000
7.750% Senior Notes	400,000		400,000
7.500% Senior Notes	450,000		450,000
GoM Term Loan	137,500		145,000
Total long-term debt	2,412,500		2,270,000
Unamortized deferred financing costs and discounts	(38,811)		(44,089)
Total debt, net	2,373,689		2,225,911
Less: Current maturities of long-term debt	(15,000)		(30,000)
Long-term debt, net	$	2,358,689	$	2,195,911

Facility

The Facility supports our oil and gas exploration, appraisal and development programs and corporate activities. As of June 30, 2023, borrowings under the Facility totaled $775.0 million and the undrawn availability under the Facility was $370.1 million. Final maturity of the Facility is in March 2027. In April 2023, during the Spring 2023 redetermination, the Company’s lending syndicate approved a borrowing base capacity of approximately $1.15 billion resulting in a reduction of approximately $100 million of availability under the Facility. The borrowing base amount is based on the sum of the net present values of net cash flows and relevant capital expenditures reduced by certain percentages as well as value attributable to certain assets’ reserves and/or resources in the Company’s production assets in Ghana (excluding the additional interests in Jubilee and TEN acquired in the acquisition of Anadarko WCTP in October 2021) and Equatorial Guinea.

On November 23, 2022, the Company amended the Facility to update the interest rate benchmark from LIBOR to term SOFR, effective as of April 19, 2023. As amended, interest on the Facility is the aggregate of the applicable margin (3.75% to 5.00%, depending on the length of time that has passed from the date the Facility was entered into), plus the term SOFR reference rate administered by CME Group Benchmark Administration Limited for the relevant period published and a credit adjustment spread. Interest is payable on the last day of each interest period (and, if the interest period is longer than six months, on the dates falling at six-month intervals after the first day of the interest period). We pay commitment fees on the undrawn and unavailable portion of the total commitments, if any. Commitment fees are equal to 30% per annum of the then-applicable respective margin when a commitment is available for utilization and, equal to 20% per annum of the then-applicable respective margin when a commitment is not available for utilization. We recognize interest expense in accordance with ASC 835 — Interest, which requires interest expense to be recognized using the effective interest method. We determined the effective interest rate based on the estimated level of borrowings under the Facility.

We were in compliance with the financial covenants contained in the Facility as of March 31, 2023 (the most recent assessment date). The Facility, as amended, contains customary cross default provisions.

Corporate Revolver

The Corporate Revolver is available for general corporate purposes and for oil and gas exploration, appraisal and development programs. As of June 30, 2023, there were no outstanding borrowings under the Corporate Revolver and the undrawn availability was $250.0 million with an expiration date of December 31, 2024.

The Company capitalized $6.1 million of deferred financing costs associated with entering into the new revolving credit facility in March 2022, which is being amortized over the term of the new revolving credit facility. On November 23, 2022, the Company amended the Corporate Revolver to update the interest rate benchmark from compounded SOFR to term SOFR, effective as of April 19, 2023. As amended, interest on the Corporate Revolver is the aggregate of a 7.0% margin, the term SOFR reference rate administered by CME Group Benchmark Administration Limited for the relevant period published and a credit adjustment spread. Interest is payable on the last day of each interest period (and, if the interest period is longer than six months, on the dates falling at six-month intervals after the first day of the interest period). We pay commitment fees

on the undrawn portion of the total commitments. Commitment fees for the lenders are equal to 30% per annum of the respective margin when a commitment is available for utilization.

We were in compliance with the financial covenants contained in the Corporate Revolver as of March 31, 2023 (the most recent assessment date). The Corporate Revolver contains customary cross default provisions.

7.125% Senior Notes due 2026

In April 2019, the Company issued $650.0 million of 7.125% Senior Notes and received net proceeds of approximately $640.0 million after deducting commissions and other expenses.

The 7.125% Senior Notes mature on April 4, 2026. Interest is payable in arrears each April 4 and October 4, commencing on October 4, 2019. The 7.125% Senior Notes are senior, unsecured obligations of Kosmos Energy Ltd. and rank equal in right of payment with all of its existing and future senior indebtedness (including all borrowings under the Corporate Revolver, 7.750% Senior Notes and the 7.500% Senior Notes) and rank effectively junior in right of payment to all of its existing and future secured indebtedness (including all borrowings under the Facility) and all borrowings under the GoM Term Loan. The 7.125% Senior Notes are guaranteed on a senior, unsecured basis by certain subsidiaries owning the Company's U.S. Gulf of Mexico assets and the interests acquired in the Anadarko WCTP acquisition, and on a subordinated, unsecured basis by certain subsidiaries that borrow under, or guarantee, the Facility and that guarantee the Corporate Revolver, the 7.750% Senior Notes and the 7.500% Senior Notes. The 7.125% Senior Notes contain customary cross default provisions.

7.750% Senior Notes due 2027

In October 2021, the Company issued $400.0 million of 7.750% Senior Notes and received net proceeds of approximately $395.0 million after deducting fees.

The 7.750% Senior Notes mature on May 1, 2027. Interest is payable in arrears each May 1 and November 1, commencing on May 1, 2022. The 7.750% Senior Notes are senior, unsecured obligations of Kosmos Energy Ltd. and rank equal in right of payment with all of its existing and future senior indebtedness (including all borrowings under the Corporate Revolver, the 7.125% Senior Notes and the 7.500% Senior Notes) and rank effectively junior in right of payment to all of its existing and future secured indebtedness (including all borrowings under the Facility) and all borrowings under the GoM Term Loan. The 7.750% Senior Notes are guaranteed on a senior, unsecured basis by certain subsidiaries owning the Company's U.S. Gulf of Mexico assets and the interests acquired in the Anadarko WCTP acquisition, and on a subordinated, unsecured basis by certain subsidiaries that borrow under, or guarantee, the Facility and that guarantee the Corporate Revolver, the 7.125% Senior Notes and the 7.500% Senior Notes. The 7.750% Senior Notes contain customary cross default provisions.

7.500% Senior Notes due 2028

In March 2021, the Company issued $450.0 million of 7.500% Senior Notes and received net proceeds of approximately $444.4 million after deducting fees.

The 7.500% Senior Notes mature on March 1, 2028. Interest is payable in arrears each March 1 and September 1, commencing on September 1, 2021. The 7.500% Senior Notes are senior, unsecured obligations of Kosmos Energy Ltd. and rank equal in right of payment with all of its existing and future senior indebtedness (including all borrowings under the Corporate Revolver, the 7.125% Senior Notes and the 7.750% Senior Notes) and rank effectively junior in right of payment to all of its existing and future secured indebtedness (including all borrowings under the Facility) and all borrowings under the GoM Term Loan. The 7.500% Senior Notes are guaranteed on a senior, unsecured basis by certain subsidiaries owning the Company's U.S. Gulf of Mexico assets and the interests in the Anadarko WCTP acquisition, and on a subordinated, unsecured basis by certain subsidiaries that borrow under, or guarantee, the Facility and that guarantee the Corporate Revolver, and the 7.125% Senior Notes and the 7.750% Senior Notes. The 7.500% Senior Notes contain customary cross default provisions.

GoM Term Loan

In September 2020, the Company entered into a five-year $200.0 million senior secured term-loan credit agreement secured against the Company's U.S. Gulf of Mexico assets with net proceeds received of $197.7 million after deducting fees and other expenses. The GoM Term Loan also includes an accordion feature providing for incremental commitments of up to $100.0 million subject to certain conditions. The GoM Term Loan bears interest at the weighted average margin of 5.9% per annum plus a benchmark rate of 0.35% and Federal Funds Rate and matures in 2025, with quarterly principal repayments having started since the fourth quarter of 2021. In June 2023, the Company amended the GoM Term Loan deferring the scheduled quarterly principal repayments through March 31, 2024 and extending the deferred repayments to the maturity date.

As of June 30, 2023, $15.0 million of the total $137.5 million outstanding under the GoM Term Loan has been classified within Current maturities of long-term debt on our consolidated balance sheet.

We were in compliance with the covenants, representations and warranties contained in the GoM Term Loan as of March 31, 2023 (the most recent assessment date). The GoM Term Loan contains customary cross default provisions.

Principal Debt Repayments

At June 30, 2023, the estimated repayments of debt during the five fiscal year periods and thereafter are as follows:


	Payments Due by Year
	Total		2023(2)		2024		2025		2026		2027		Thereafter
	(In thousands)
Principal debt repayments(1)	$	2,412,500	$	—	$	123,047	$	334,950	$	929,282	$	575,221	$	450,000

__________________________________

(1)Includes the scheduled maturities for outstanding principal debt balances. The scheduled maturities of debt related to the Facility as of June 30, 2023 are based on our level of borrowings and our estimated future available borrowing base commitment levels in future periods. Any increases or decreases in the level of borrowings or increases or decreases in the available borrowing base would impact the scheduled maturities of debt during the next five years and thereafter.

(2)Represents payments for the period July 1, 2023 through December 31, 2023.

Interest and other financing costs, net

Interest and other financing costs, net incurred during the periods is comprised of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Interest expense	$	51,965	$	43,016	$	100,480	$	86,178
Amortization—deferred financing costs	2,530		2,591		5,081		5,261
Loss on extinguishment of debt	—		—		—		192
Capitalized interest	(33,688)		(19,187)		(63,891)		(35,326)
Deferred interest	670		10		353		(1,440)
Interest income	(4,445)		(3,344)		(8,586)		(4,884)
Other, net	7,339		6,296		15,502		12,540
Interest and other financing costs, net	$	24,371	$	29,382	$	48,939	$	62,521

Capitalized interest for the six months ended June 30, 2023 and 2022 primarily relates to spend on the Greater Tortue Ahmeyim Phase 1 project. After first gas production on the Greater Tortue Ahmeyim Phase 1 project, which is targeted in the first quarter of 2024, we will no longer capitalize interest on the project.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Business Segment Information - Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Oil and gas revenue	$ 273,255		$ 620,368		$ 667,495	$ 1,279,383
Gain on sale of assets	0		471		0	471
Other income, net	60		43		(313)	95
Total revenues and other income	273,315		620,882		667,182	1,279,949
Oil and gas production	63,579		90,189		147,515	214,892
Facilities insurance modifications, net	0		(384)		0	6,752
Exploration expenses	11,015		89,565		23,015	101,441
General and administrative	23,444		24,624		52,611	50,417
Depletion, depreciation and amortization	89,913		121,679		199,287	280,648
Interest and other financing costs, net	24,371		29,382		48,939	62,521
Derivatives, net	3,031		75,204		(3,809)	357,376
Other expenses, net	4,779		(3,528)		6,809	(1,102)
Total costs and expenses	220,132		426,731		474,367	1,072,945
Income before income taxes	53,183		194,151		192,815	207,004
Income tax expense	29,838		76,978		86,161	88,431
Net income	23,345	$ 83,309	117,173	$ 1,400	106,654	118,573
Consolidated capital expenditures, net	169,645		248,291		376,078	230,611
Property and equipment, net	4,077,821		4,032,327		4,077,821	4,032,327	$ 3,842,647
Total assets	4,807,619		4,931,190		4,807,619	4,931,190	$ 4,579,988
Proceeds on sale of assets					0	118,693
Jubilee Unit Area And Ten Fields \| Tullow
Segment Reporting Information [Line Items]
Proceeds on sale of assets						118,200
Kodiak Field \| Marubeni
Segment Reporting Information [Line Items]
Business combination, consideration transferred			29,000			29,000
Operating Segments \| Ghana
Segment Reporting Information [Line Items]
Oil and gas revenue	146,850		326,091		380,100	735,571
Gain on sale of assets			0			0
Other income, net	0		0		(425)	1
Total revenues and other income	146,850		326,091		379,675	735,572
Oil and gas production	21,627		37,776		51,236	113,119
Facilities insurance modifications, net			(384)			6,752
Exploration expenses	163		1,903		637	1,974
General and administrative	3,284		3,444		7,446	7,413
Depletion, depreciation and amortization	42,347		62,376		100,108	163,786
Interest and other financing costs, net	8,408		14,260		28,167	29,286
Derivatives, net	0		0		0	0
Other expenses, net	2,903		66,235		(3,655)	316,797
Total costs and expenses	78,732		185,610		183,939	639,127
Income before income taxes	68,118		140,481		195,736	96,445
Income tax expense	24,465		49,798		69,864	34,780
Net income	43,653		90,683		125,872	61,665
Consolidated capital expenditures, net	83,556		56,128		149,478	(8,057)
Property and equipment, net	1,262,286		1,661,177		1,262,286	1,661,177
Total assets	3,198,853		3,127,071		3,198,853	3,127,071
Operating Segments \| Equatorial Guinea
Segment Reporting Information [Line Items]
Oil and gas revenue	34,665		111,231		104,629	218,969
Gain on sale of assets			0			0
Other income, net	10		0		10	0
Total revenues and other income	34,675		111,231		104,639	218,969
Oil and gas production	14,840		25,839		43,923	48,464
Facilities insurance modifications, net			0			0
Exploration expenses	1,796		1,366		4,083	2,976
General and administrative	1,151		1,415		2,662	3,017
Depletion, depreciation and amortization	8,557		15,050		22,083	32,988
Interest and other financing costs, net	(699)		(607)		(1,386)	(1,088)
Derivatives, net	0		0		0	0
Other expenses, net	383		4,894		(47)	24,017
Total costs and expenses	26,028		47,957		71,318	110,374
Income before income taxes	8,647		63,274		33,321	108,595
Income tax expense	3,775		24,719		13,360	48,049
Net income	4,872		38,555		19,961	60,546
Consolidated capital expenditures, net	17,823		14,074		24,956	24,296
Property and equipment, net	401,672		389,499		401,672	389,499
Total assets	1,610,111		1,097,801		1,610,111	1,097,801
Operating Segments \| Mauritania/Senegal
Segment Reporting Information [Line Items]
Oil and gas revenue	0		0		0	0
Gain on sale of assets			0			0
Other income, net	0		0		0	0
Total revenues and other income	0		0		0	0
Oil and gas production	0		0		0	0
Facilities insurance modifications, net			0			0
Exploration expenses	3,605		74,975		8,219	78,089
General and administrative	1,830		2,270		4,803	4,266
Depletion, depreciation and amortization	207		61		402	115
Interest and other financing costs, net	(29,547)		(15,662)		(55,649)	(28,501)
Derivatives, net	0		0		0	0
Other expenses, net	1,516		(1,930)		2,721	(1,344)
Total costs and expenses	(22,389)		59,714		(39,504)	52,625
Income before income taxes	22,389		(59,714)		39,504	(52,625)
Income tax expense	0		0		0	0
Net income	22,389		(59,714)		39,504	(52,625)
Consolidated capital expenditures, net	46,689		136,615		149,751	147,416
Property and equipment, net	1,599,864		1,092,873		1,599,864	1,092,873
Total assets	2,340,829		1,540,896		2,340,829	1,540,896
Operating Segments \| U.S. Gulf of Mexico
Segment Reporting Information [Line Items]
Oil and gas revenue	91,740		183,046		182,766	324,843
Gain on sale of assets			471			471
Other income, net	1,067		484		2,086	1,028
Total revenues and other income	92,807		184,001		184,852	326,342
Oil and gas production	27,112		26,574		52,356	53,309
Facilities insurance modifications, net			0			0
Exploration expenses	3,552		10,520		7,177	17,096
General and administrative	4,673		3,433		9,807	8,377
Depletion, depreciation and amortization	38,449		43,753		75,964	82,947
Interest and other financing costs, net	3,000		2,734		6,092	5,458
Derivatives, net	0		0		0	0
Other expenses, net	1,678		4,295		2,801	17,672
Total costs and expenses	78,464		91,309		154,197	184,859
Income before income taxes	14,343		92,692		30,655	141,483
Income tax expense	225		0		1,065	3,102
Net income	14,118		92,692		29,590	138,381
Consolidated capital expenditures, net	19,639		39,940		48,319	64,244
Property and equipment, net	797,556		870,768		797,556	870,768
Total assets	3,780,742		3,605,374		3,780,742	3,605,374
Corporate & Other
Segment Reporting Information [Line Items]
Oil and gas revenue	0		0		0	0
Gain on sale of assets			0			0
Other income, net	42,940		108,192		70,914	423,304
Total revenues and other income	42,940		108,192		70,914	423,304
Oil and gas production	0		0		0	0
Facilities insurance modifications, net			0			0
Exploration expenses	1,899		801		2,899	1,306
General and administrative	53,431		47,491		104,600	94,206
Depletion, depreciation and amortization	353		439		730	812
Interest and other financing costs, net	43,209		28,657		71,715	57,366
Derivatives, net	3,031		75,204		(3,809)	357,376
Other expenses, net	1,331		(1,818)		1,180	(868)
Total costs and expenses	103,254		150,774		177,315	510,198
Income before income taxes	(60,314)		(42,582)		(106,401)	(86,894)
Income tax expense	1,373		2,461		1,872	2,500
Net income	(61,687)		(45,043)		(108,273)	(89,394)
Consolidated capital expenditures, net	1,938		1,534		3,574	2,712
Property and equipment, net	16,443		18,010		16,443	18,010
Total assets	20,248,788		18,046,768		20,248,788	18,046,768
Eliminations
Segment Reporting Information [Line Items]
Oil and gas revenue	0		0		0	0
Gain on sale of assets			0			0
Other income, net	(43,957)		(108,633)		(72,898)	(424,238)
Total revenues and other income	(43,957)		(108,633)		(72,898)	(424,238)
Oil and gas production	0		0		0	0
Facilities insurance modifications, net			0			0
Exploration expenses	0		0		0	0
General and administrative	(40,925)		(33,429)		(76,707)	(66,862)
Depletion, depreciation and amortization	0		0		0	0
Interest and other financing costs, net	0		0		0	0
Derivatives, net	0		0		0	0
Other expenses, net	(3,032)		(75,204)		3,809	(357,376)
Total costs and expenses	(43,957)		(108,633)		(72,898)	(424,238)
Income before income taxes	0		0		0	0
Income tax expense	0		0		0	0
Net income	0		0		0	0
Consolidated capital expenditures, net	0		0		0	0
Property and equipment, net	0		0		0	0
Total assets	$ (26,371,703)		$ (22,486,720)		$ (26,371,703)	$ (22,486,720)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Cash Flows [Abstract]
Cash settlements on commodity hedges derivatives	$ (8.2)	$ (212.9)

Fair Value Measurements - Schedule of Carrying Values and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019
Carrying Value
Fair Value Measurements
Long-term debt	$ 2,401,012	$ 2,257,156
Fair Value
Fair Value Measurements
Long-term debt	2,201,507	2,025,751
7.125% Senior Notes \| Senior Notes
Fair Value Measurements
Interest rate (as a percent)					7.125%
7.125% Senior Notes \| Senior Notes \| Carrying Value
Fair Value Measurements
Long-term debt	646,294	645,699
7.125% Senior Notes \| Senior Notes \| Fair Value
Fair Value Measurements
Long-term debt	572,598	558,201
7.750% Senior Notes \| Senior Notes
Fair Value Measurements
Interest rate (as a percent)			7.75%
7.750% Senior Notes \| Senior Notes \| Carrying Value
Fair Value Measurements
Long-term debt	396,297	395,893
7.750% Senior Notes \| Senior Notes \| Fair Value
Fair Value Measurements
Long-term debt	343,516	335,592
7.500% Senior Notes \| Senior Notes
Fair Value Measurements
Interest rate (as a percent)				7.50%
7.500% Senior Notes \| Senior Notes \| Carrying Value
Fair Value Measurements
Long-term debt	445,921	445,564
7.500% Senior Notes \| Senior Notes \| Fair Value
Fair Value Measurements
Long-term debt	372,893	361,958
GoM Term Loan \| Secured Debt \| Carrying Value
Fair Value Measurements
Long-term debt	137,500	145,000
GoM Term Loan \| Secured Debt \| Fair Value
Fair Value Measurements
Long-term debt	137,500	145,000
Facility \| Revolving Credit Facility \| Carrying Value
Fair Value Measurements
Long-term debt	775,000	625,000
Facility \| Revolving Credit Facility \| Fair Value
Fair Value Measurements
Long-term debt	$ 775,000	$ 625,000

Suspended Well Costs - Summary of Suspended Well Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) project	Dec. 31, 2022 USD ($) project
Reconciliation of capitalized exploratory well costs on completed wells
Beginning balance	$ 145,957
Additions to capitalized exploratory well costs pending the determination of proved reserves	5,228
Reclassification due to determination of proved reserves	0
Capitalized exploratory well costs charged to expense	0
Ending balance	151,185
Aging of capitalized exploratory well costs and number of projects for which exploratory well costs were capitalized for more than one year
Exploratory well costs capitalized for a period of one year or less	0	$ 0
Exploratory well costs capitalized for a period of one to three years	33,248	32,770
Exploratory well costs capitalized for a period of four to seven years	117,937	113,187
Ending balance	$ 151,185	$ 145,957
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year \| project	2	2

Business Segment Information - Narrative (Details)	6 Months Ended
Business Segment Information - Narrative (Details)	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Income Taxes - Narrative (Details)	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Taxes
Effective tax rate (as a percent)	56.00%	40.00%	45.00%	43.00%
Statutory tax rate (as a percent)			21.00%	21.00%
Ghanaian and Equatorial Guinean
Income Taxes
Statutory tax rate (as a percent)			35.00%	35.00%
Foreign
Income Taxes
Statutory tax rate (as a percent)			0.00%	0.00%

Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of reconciliation between net income and the amounts used to compute basic and diluted net income per share and the weighted average shares outstanding used to compute basic and diluted net income per share

The following table is a reconciliation between net income and the amounts used to compute basic and diluted net income per share and the weighted average shares outstanding used to compute basic and diluted net income per share:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
	(In thousands, except per share data)
Numerator:
Net income allocable to common stockholders	$	23,345	$	117,173	$	106,654	$	118,573




Denominator:
Weighted average number of shares outstanding:
Basic	459,984		455,512		459,155		454,811
Restricted stock units(1)	19,032		20,133		19,747		18,660
Diluted	479,016		475,645		478,902		473,471
Net income per share:
Basic	$	0.05	$	0.26	$	0.23	$	0.26
Diluted	$	0.05	$	0.25	$	0.22	$	0.25

__________________________________

(1)We excluded restricted stock units of 1.8 million and 0.1 million for the three months ended June 30, 2023 and 2022, respectively, and 1.4 million and 0.1 million for the six months ended June 30, 2023 and 2022, respectively from the computations of diluted net income per share because the effect would have been anti-dilutive.

Accounting Policies - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Materials and supplies inventory	$ 143.4	$ 125.3
Hydrocarbons inventory	$ 48.0	$ 8.2

Fair Value Measurements

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

In accordance with ASC 820 — Fair Value Measurement, fair value measurements are based upon inputs that market participants use in pricing an asset or liability, which are classified into two categories: observable inputs and unobservable inputs. Observable inputs represent market data obtained from independent sources, whereas unobservable inputs reflect a company’s own market assumptions, which are used if observable inputs are not reasonably available without undue cost and effort. We prioritize the inputs used in measuring fair value into the following fair value hierarchy:

•Level 1 — quoted prices for identical assets or liabilities in active markets.

•Level 2 — quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs derived principally from or corroborated by observable market data by correlation or other means.

•Level 3 — unobservable inputs for the asset or liability. The fair value input hierarchy level to which an asset or liability measurement in its entirety falls is determined based on the lowest level input that is significant to the measurement in its entirety.

The following tables present the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, for each fair value hierarchy level:


	Fair Value Measurements Using:
	Quoted Prices in
	Active Markets for		Significant Other		Significant
	Identical Assets		Observable Inputs		Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
	(In thousands)
June 30, 2023
Assets:
Commodity derivatives	$	—	$	14,775	$	—	$	14,775
Provisional oil sales	—		—		—		—

Liabilities:
Commodity derivatives	—		(1,235)		—		(1,235)

Total	$	—	$	13,540	$	—	$	13,540
December 31, 2022
Assets:
Commodity derivatives	$	—	$	9,069	$	—	$	9,069
Provisional oil sales	—		1,170		—		1,170

Liabilities:
Commodity derivatives	—		(7,551)		—		(7,551)

Total	$	—	$	2,688	$	—	$	2,688

The book values of cash and cash equivalents and restricted cash approximate fair value based on Level 1 inputs. Joint interest billings, oil sales and other receivables, and accounts payable and accrued liabilities approximate fair value due to the short-term nature of these instruments. Our long-term receivables, after any allowances for credit losses, and other long-term assets approximate fair value. The estimates of fair value of these items are based on Level 2 inputs.

Commodity Derivatives

Our commodity derivatives represent crude oil collars, put options and call options for notional barrels of oil at fixed Dated Brent or NYMEX WTI oil prices. The values attributable to our oil derivatives are based on (i) the contracted notional volumes, (ii) independent active futures price quotes for the respective index, (iii) a credit-adjusted yield curve applicable to each counterparty by reference to the credit default swap (“CDS”) market and (iv) an independently sourced estimate of volatility for the respective index. The volatility estimate was provided by certain independent brokers who are active in buying and selling oil options and was corroborated by market-quoted volatility factors. The deferred premium is included in the fair market value of the commodity derivatives. See Note 8 — Derivative Financial Instruments for additional information regarding the Company’s derivative instruments.

Provisional Oil Sales

The value attributable to provisional oil sales derivatives is based on (i) the sales volumes and (ii) the difference in the independent active futures price quotes for the respective index over the term of the pricing period designated in the sales contract and the spot price on the lifting date.

Debt

The following table presents the carrying values and fair values at June 30, 2023 and December 31, 2022:


	June 30, 2023				December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
7.125% Senior Notes	$	646,294	$	572,598	$	645,699	$	558,201
7.750% Senior Notes	396,297		343,516		395,893		335,592
7.500% Senior Notes	445,921		372,893		445,564		361,958
GoM Term Loan	137,500		137,500		145,000		145,000

Facility	775,000		775,000		625,000		625,000
Total	$	2,401,012	$	2,201,507	$	2,257,156	$	2,025,751

The carrying values of our 7.125% Senior Notes, 7.750% Senior Notes and 7.500% Senior Notes represent the principal amounts outstanding less unamortized discounts. The fair values of our 7.125% Senior Notes, 7.750% Senior Notes and 7.500% Senior Notes are based on quoted market prices, which results in a Level 1 fair value measurement. The carrying values of the GoM Term Loan and Facility approximate fair value since they are subject to short-term floating interest rates that approximate the rates available to us for those periods.

Nonrecurring Fair Value Measurements - Long-lived assets

Certain long-lived assets are reported at fair value on a non-recurring basis on the Company's consolidated balance sheet. These long-lived assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Our long-lived assets are reviewed for impairment when changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

The Company calculates the estimated fair values of its long-lived assets using the income approach described in the ASC 820 — Fair Value Measurements. Significant inputs associated with the calculation of estimated discounted future net cash flows include anticipated future production, pricing estimates, capital and operating costs, market-based weighted average cost of capital, and risk adjustment factors applied to reserves. These are classified as Level 3 fair value assumptions. The Company utilizes an average of third-party industry forecasts of Dated Brent, adjusted for location and quality differentials, to determine our pricing assumptions. In order to evaluate the sensitivity of the assumptions, we analyze sensitivities to prices, production, and risk adjustment factors.

During the three and six months ended June 30, 2023 and 2022, the Company did not recognize impairment of proved oil and gas properties as no impairment indicators were identified. If we experience material declines in oil pricing expectations

in the future, significant increases in our estimated future expenditures or a significant decrease in our estimated production profile, our long-lived assets could be at risk of impairment.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Equity-based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares, authorized shares (in shares)	2,000,000,000		2,000,000,000		2,000,000,000
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized	$ 11.1	$ 8.7	$ 21.2	$ 17.1
Tax benefit	1.9	1.5	3.7	2.9
Net tax (windfall) shortfall related to equity-based compensation	(0.5)	(0.5)	(3.1)	0.7
Fair value of awards vested	$ 3.8	$ 4.0	$ 44.8	$ 21.3
Vesting period (in years)			3 years
Common shares, authorized shares (in shares)	17,000,000		17,000,000
Number of shares remaining available for grant (in shares)	18,500,000		18,500,000
LTIP \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense not yet recognized	$ 49.7		$ 49.7
Weighted average period over which compensation expense is to be recognized (in years)			1 year 11 months 1 day
LTIP \| Market/Service Vesting Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of awards granted (in dollars per share)			$ 12.25
LTIP \| Market/Service Vesting Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of the awards granted (up to)			0.00%
Grant date fair value of awards granted (in dollars per share)			$ 1.06
Expected volatility			50.00%
Risk-free interest rate (as a percent)			0.20%
LTIP \| Market/Service Vesting Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of the awards granted (up to)			200.00%
Grant date fair value of awards granted (in dollars per share)			$ 12.33
Expected volatility			105.00%
Risk-free interest rate (as a percent)			3.70%

Business Segment Information

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Business Segment Information

Kosmos is engaged in a single line of business, which is the exploration, development and production of oil and gas. At June 30, 2023, the Company had operations in four geographic reporting segments: Ghana, Equatorial Guinea, Mauritania/Senegal and the U.S. Gulf of Mexico. To assess performance of the reporting segments, the Chief Operating Decision Maker reviews capital expenditures. Capital expenditures, as defined by the Company, may not be comparable to similarly titled measures used by other companies and should be considered in conjunction with our consolidated financial statements and notes thereto. Financial information for each area is presented below:


	Ghana		Equatorial Guinea		Mauritania/Senegal		U.S. Gulf of Mexico		Corporate & Other		Eliminations		Total
	(In thousands)
Three months ended June 30, 2023
Revenues and other income:
Oil and gas revenue	$	146,850	$	34,665	$	—	$	91,740	$	—	$	—	$	273,255

Other income, net	—		10		—		1,067		42,940		(43,957)		60
Total revenues and other income	146,850		34,675		—		92,807		42,940		(43,957)		273,315
Costs and expenses:
Oil and gas production	21,627		14,840		—		27,112		—		—		63,579

Exploration expenses	163		1,796		3,605		3,552		1,899		—		11,015
General and administrative	3,284		1,151		1,830		4,673		53,431		(40,925)		23,444
Depletion, depreciation and amortization	42,347		8,557		207		38,449		353		—		89,913

Interest and other financing costs, net(1)	8,408		(699)		(29,547)		3,000		43,209		—		24,371
Derivatives, net	—		—		—		—		3,031		—		3,031
Other expenses, net	2,903		383		1,516		1,678		1,331		(3,032)		4,779
Total costs and expenses	78,732		26,028		(22,389)		78,464		103,254		(43,957)		220,132
Income (loss) before income taxes	68,118		8,647		22,389		14,343		(60,314)		—		53,183
Income tax expense	24,465		3,775		—		225		1,373		—		29,838
Net income (loss)	$	43,653	$	4,872	$	22,389	$	14,118	$	(61,687)	$	—	$	23,345

Consolidated capital expenditures, net	$	83,556	$	17,823	$	46,689	$	19,639	$	1,938	$	—	$	169,645


	Ghana		Equatorial Guinea		Mauritania/Senegal		U.S. Gulf of Mexico		Corporate & Other		Eliminations		Total
	(In thousands)
Six months ended June 30, 2023
Revenues and other income:
Oil and gas revenue	$	380,100	$	104,629	$	—	$	182,766	$	—	$	—	$	667,495

Other income, net	(425)		10		—		2,086		70,914		(72,898)		(313)
Total revenues and other income	379,675		104,639		—		184,852		70,914		(72,898)		667,182
Costs and expenses:
Oil and gas production	51,236		43,923		—		52,356		—		—		147,515

Exploration expenses	637		4,083		8,219		7,177		2,899		—		23,015
General and administrative	7,446		2,662		4,803		9,807		104,600		(76,707)		52,611
Depletion, depreciation and amortization	100,108		22,083		402		75,964		730		—		199,287

Interest and other financing costs, net(1)	28,167		(1,386)		(55,649)		6,092		71,715		—		48,939
Derivatives, net	—		—		—		—		(3,809)		—		(3,809)
Other expenses, net	(3,655)		(47)		2,721		2,801		1,180		3,809		6,809
Total costs and expenses	183,939		71,318		(39,504)		154,197		177,315		(72,898)		474,367
Income (loss) before income taxes	195,736		33,321		39,504		30,655		(106,401)		—		192,815
Income tax expense	69,864		13,360		—		1,065		1,872		—		86,161
Net income (loss)	$	125,872	$	19,961	$	39,504	$	29,590	$	(108,273)	$	—	$	106,654

Consolidated capital expenditures, net	$	149,478	$	24,956	$	149,751	$	48,319	$	3,574	$	—	$	376,078

As of June 30, 2023
Property and equipment, net	$	1,262,286	$	401,672	$	1,599,864	$	797,556	$	16,443	$	—	$	4,077,821
Total assets	$	3,198,853	$	1,610,111	$	2,340,829	$	3,780,742	$	20,248,788	$	(26,371,703)	$	4,807,619

______________________________________

(1)Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside.


	Ghana(2)		Equatorial Guinea		Mauritania/Senegal		U.S. Gulf of Mexico		Corporate & Other		Eliminations		Total
	(In thousands)
Three months ended June 30, 2022
Revenues and other income:
Oil and gas revenue	$	326,091	$	111,231	$	—	$	183,046	$	—	$	—	$	620,368
Gain on sale of assets	—		—		—		471		—		—		471
Other income, net	—		—		—		484		108,192		(108,633)		43
Total revenues and other income	326,091		111,231		—		184,001		108,192		(108,633)		620,882
Costs and expenses:
Oil and gas production	37,776		25,839		—		26,574		—		—		90,189
Facilities insurance modifications, net	(384)		—		—		—		—		—		(384)
Exploration expenses	1,903		1,366		74,975		10,520		801		—		89,565
General and administrative	3,444		1,415		2,270		3,433		47,491		(33,429)		24,624
Depletion, depreciation and amortization	62,376		15,050		61		43,753		439		—		121,679

Interest and other financing costs, net(1)	14,260		(607)		(15,662)		2,734		28,657		—		29,382
Derivatives, net	—		—		—		—		75,204		—		75,204
Other expenses, net	66,235		4,894		(1,930)		4,295		(1,818)		(75,204)		(3,528)
Total costs and expenses	185,610		47,957		59,714		91,309		150,774		(108,633)		426,731
Income (loss) before income taxes	140,481		63,274		(59,714)		92,692		(42,582)		—		194,151
Income tax expense	49,798		24,719		—		—		2,461		—		76,978
Net income (loss)	$	90,683	$	38,555	$	(59,714)	$	92,692	$	(45,043)	$	—	$	117,173

Consolidated capital expenditures, net	$	56,128	$	14,074	$	136,615	$	39,940	$	1,534	$	—	$	248,291


	Ghana(2)		Equatorial Guinea		Mauritania/Senegal		U.S. Gulf of Mexico(3)		Corporate & Other		Eliminations		Total
	(In thousands)
Six months ended June 30, 2022
Revenues and other income:
Oil and gas revenue	$	735,571	$	218,969	$	—	$	324,843	$	—	$	—	$	1,279,383
Gain on sale of assets	—		—		—		471		—		—		471
Other income, net	1		—		—		1,028		423,304		(424,238)		95
Total revenues and other income	735,572		218,969		—		326,342		423,304		(424,238)		1,279,949
Costs and expenses:
Oil and gas production	113,119		48,464		—		53,309		—		—		214,892
Facilities insurance modifications, net	6,752		—		—		—		—		—		6,752
Exploration expenses	1,974		2,976		78,089		17,096		1,306		—		101,441
General and administrative	7,413		3,017		4,266		8,377		94,206		(66,862)		50,417
Depletion, depreciation and amortization	163,786		32,988		115		82,947		812		—		280,648

Interest and other financing costs, net(1)	29,286		(1,088)		(28,501)		5,458		57,366		—		62,521
Derivatives, net	—		—		—		—		357,376		—		357,376
Other expenses, net	316,797		24,017		(1,344)		17,672		(868)		(357,376)		(1,102)
Total costs and expenses	639,127		110,374		52,625		184,859		510,198		(424,238)		1,072,945
Income (loss) before income taxes	96,445		108,595		(52,625)		141,483		(86,894)		—		207,004
Income tax expense	34,780		48,049		—		3,102		2,500		—		88,431
Net income (loss)	$	61,665	$	60,546	$	(52,625)	$	138,381	$	(89,394)	$	—	$	118,573

Consolidated capital expenditures, net	$	(8,057)	$	24,296	$	147,416	$	64,244	$	2,712	$	—	$	230,611

As of June 30, 2022
Property and equipment, net	$	1,661,177	$	389,499	$	1,092,873	$	870,768	$	18,010	$	—	$	4,032,327
Total assets	$	3,127,071	$	1,097,801	$	1,540,896	$	3,605,374	$	18,046,768	$	(22,486,720)	$	4,931,190

______________________________________

(1)Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside.

(2)Includes activity related to the interest pre-empted by Tullow prior to the March 17, 2022 closing date of the Tullow pre-emption transaction. Additionally, cash consideration of $118.2 million is included as reduction in Consolidated capital expenditures for the six months ended June 30, 2022.

(3)Includes activity related to our acquisition of an additional interest in the Kodiak Oil Field commencing June 9, 2022, the acquisition date. Additionally, cash consideration paid of $29.0 million is included in consolidated capital expenditures for the three and six months ended June 30, 2022.


	Six Months Ended June 30,
	2023		2022
	(In thousands)
Consolidated capital expenditures:
Consolidated Statements of Cash Flows - Investing activities:
Oil and gas assets	$	416,867	$	320,787
Acquisition of oil and gas properties	—		21,205
Proceeds on sale of assets	—		(118,693)
Adjustments:
Changes in capital accruals	1,290		7,061
Exploration expense, excluding unsuccessful well costs and leasehold impairments(1)	21,702		27,779
Capitalized interest	(63,891)		(35,326)
Other	110		7,798
Total consolidated capital expenditures, net	$	376,078	$	230,611

______________________________________

(1)Unsuccessful well costs and leasehold impairments are included in oil and gas assets when incurred.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Long-term Receivables	6 Months Ended
Long-term Receivables	Jun. 30, 2023
Receivables [Abstract]
Long-term Receivables	Long-term Receivables In February 2019, Kosmos and BP signed Carry Advance Agreements with the national oil companies of Mauritania and Senegal obligating us to finance a portion of the respective national oil company’s share of certain development costs incurred through first gas production for Greater Tortue Ahmeyim Phase 1, currently targeted in the first quarter of 2024. Kosmos’ share for the two agreements combined is originally estimated at approximately $240.0 million, which is to be repaid with interest through the national oil companies’ share of future revenues. As of June 30, 2023 and December 31, 2022, the balance due from the national oil companies (including interest) was $259.0 million and $218.4 million, respectively, which is classified as Long-term receivables on our consolidated balance sheets. Interest income on the long-term notes receivable was $3.8 million and $2.3 million for the three months ended June 30, 2023 and 2022, respectively, and $7.3 million and $4.3 million for the six months ended June 30, 2023 and 2022, respectively.

Debt - Principal Debt Repayments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Scheduled maturities of debt during the five year period and thereafter
Total	$ 2,412,500	$ 2,270,000
2023	0
2024	123,047
2025	334,950
2026	929,282
2027	575,221
Thereafter	$ 450,000

Additional Financial Information - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accrued liabilities:
Exploration, development and production	$ 66,331	$ 80,598
Revenue payable	20,676	26,087
Current asset retirement obligations	9,504	1,732
General and administrative expenses	18,028	32,069
Interest	40,951	44,740
Income taxes	77,199	127,183
Taxes other than income	1,510	1,524
Derivatives	1,242	6,440
Other	8,439	4,833
Accrued liabilities	$ 243,880	$ 325,206

Debt - Corporate Revolver (Details) - Revolving Credit Facility - Corporate Revolver $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Amount outstanding	$ 0.0
Undrawn availability	250.0
Deferred financing costs	$ 6.1
Interest payment interval period maximum	6 months
Commitment fee percentage	30.00%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin (as a percent)	7.00%

Acquisitions and Divestitures	6 Months Ended
Acquisitions and Divestitures	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and DivestituresIn February 2023, Kosmos and Panoro Energy ASA (“Panoro”) entered into a petroleum contract covering Block EG-01 offshore Equatorial Guinea with the Republic of Equatorial Guinea. Kosmos holds a 24% participating interest in the block and the operator, Panoro, holds a 56% participating interest. The Equatorial Guinean national oil company, Guinea Equatorial De Petroles (“GEPetrol”), currently has a 20% carried participating interest during the exploration period. Should a commercial discovery be made, GEPetrol’s 20% carried interest will convert to a 20% participating interest. Block EG-01 currently comprises approximately 59,400 acres (240 square kilometers), with a first exploration period of three years from the effective date (March 1, 2023). In March 2023, we closed a farm-out agreement with Panoro, whereby Panoro acquired a 6.0% participating interest in Block S offshore Equatorial Guinea. As a result of the farm-out agreement, Kosmos’ participating interest in Block S was reduced to 34.0%.

Derivative Financial Instruments - Derivative Instruments and Gain/(Loss) from Derivatives (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative instruments, Balance Sheet Location
Derivatives assets—current	$ 11,270	$ 7,344
Derivatives assets—long-term	3,505	1,725
Derivatives liabilities—current	(1,097)	(6,773)
Derivatives liabilities—long-term	(138)	(778)
Derivatives not designated as hedging instruments
Derivative instruments, Balance Sheet Location
Total derivatives not designated as hedging instruments	13,540	2,688
Derivatives not designated as hedging instruments \| Commodity
Derivative instruments, Balance Sheet Location
Derivatives assets—current	11,270	7,344
Derivatives assets—long-term	3,505	1,725
Derivatives liabilities—current	(1,097)	(6,773)
Derivatives liabilities—long-term	(138)	(778)
Derivatives not designated as hedging instruments \| Provisional oil sales
Derivative instruments, Balance Sheet Location
Derivatives assets—current	$ 0	$ 1,170

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of company's assets and liabilities that are measured at fair value on a recurring basis


	Fair Value Measurements Using:
	Quoted Prices in
	Active Markets for		Significant Other		Significant
	Identical Assets		Observable Inputs		Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
	(In thousands)
June 30, 2023
Assets:
Commodity derivatives	$	—	$	14,775	$	—	$	14,775
Provisional oil sales	—		—		—		—

Liabilities:
Commodity derivatives	—		(1,235)		—		(1,235)

Total	$	—	$	13,540	$	—	$	13,540
December 31, 2022
Assets:
Commodity derivatives	$	—	$	9,069	$	—	$	9,069
Provisional oil sales	—		1,170		—		1,170

Liabilities:
Commodity derivatives	—		(7,551)		—		(7,551)

Total	$	—	$	2,688	$	—	$	2,688

Schedule of carrying values and fair values of financial instruments that are not carried at fair value

The following table presents the carrying values and fair values at June 30, 2023 and December 31, 2022:


	June 30, 2023				December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
7.125% Senior Notes	$	646,294	$	572,598	$	645,699	$	558,201
7.750% Senior Notes	396,297		343,516		395,893		335,592
7.500% Senior Notes	445,921		372,893		445,564		361,958
GoM Term Loan	137,500		137,500		145,000		145,000

Facility	775,000		775,000		625,000		625,000
Total	$	2,401,012	$	2,201,507	$	2,257,156	$	2,025,751

Income Taxes - Schedule of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Taxes
Income before income taxes	$ 53,183	$ 194,151	$ 192,815	$ 207,004
United States
Income Taxes
Income before income taxes	(24,529)	52,381	(49,123)	61,664
Foreign
Income Taxes
Income before income taxes	$ 77,712	$ 141,770	$ 241,938	$ 145,340

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Organization	6 Months Ended
Organization	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Kosmos Energy Ltd. is incorporated in the State of Delaware as a holding company for Kosmos Energy Delaware Holdings, LLC, a Delaware limited liability company. As a holding company, Kosmos Energy Ltd.’s management operations are conducted through a wholly-owned subsidiary, Kosmos Energy, LLC. The terms “Kosmos,” the “Company,” “we,” “us,” “our,” “ours,” and similar terms refer to Kosmos Energy Ltd. and its wholly-owned subsidiaries, unless the context indicates otherwise. Kosmos is a full-cycle, deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as world-class gas projects offshore Mauritania and Senegal. We also pursue a proven basin exploration program in Equatorial Guinea and the U.S. Gulf of Mexico. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. Kosmos is engaged in a single line of business, which is the exploration, development, and production of oil and natural gas. Substantially all of our long-lived assets and all of our product sales are related to operations in four geographic areas: Ghana, Equatorial Guinea, Mauritania/Senegal and the U.S. Gulf of Mexico.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net income	$ 106,654	$ 118,573
Adjustments to reconcile net income to net cash provided by operating activities:
Depletion, depreciation and amortization (including deferred financing costs)	204,368	285,909
Deferred income taxes	(9,029)	(83,432)
Unsuccessful well costs and leasehold impairments	1,313	73,662
Change in fair value of derivatives	(220)	367,374
Cash settlements on derivatives, net (including $(8.2) million and $(212.9) million on commodity hedges during 2023 and 2022)	(10,632)	(223,618)
Equity-based compensation	21,198	17,129
Gain on sale of assets	0	(471)
Loss on extinguishment of debt	0	192
Other	(1,474)	(3,742)
Changes in assets and liabilities:
(Increase) decrease in receivables	16,330	(103,589)
(Increase) in inventories	(60,836)	(9,398)
(Increase) in prepaid expenses and other	(5,988)	(4,261)
Increase in accounts payable	51,478	78,179
Increase (decrease) in accrued liabilities	(91,199)	95,679
Net cash provided by operating activities	221,963	608,186
Investing activities
Oil and gas assets	(416,867)	(320,787)
Acquisition of oil and gas properties	0	(21,205)
Proceeds on sale of assets	0	118,693
Notes receivable from partners	(33,295)	(11,428)
Net cash used in investing activities	(450,162)	(234,727)
Financing activities
Borrowings under long-term debt	150,000	0
Payments on long-term debt	(7,500)	(315,000)
Tax withholdings on restricted stock units	(11,811)	(2,753)
Dividends	(166)	(655)
Deferred financing costs	0	(6,288)
Net cash provided by (used in) financing activities	130,523	(324,696)
Net increase (decrease) in cash, cash equivalents and restricted cash	(97,676)	48,763
Cash, cash equivalents and restricted cash at beginning of period	186,821	174,896
Cash, cash equivalents and restricted cash at end of period	89,145	223,659
Cash paid for:
Interest, net of capitalized interest	32,468	46,262
Income taxes, net of refund received	$ 145,365	$ 137,099

Derivative Financial Instruments - Oil Derivative Contracts (Details) - Dated Brent	1 Months Ended	6 Months Ended
	Jul. 31, 2023 $ / bbl	Jun. 30, 2023 $ / bbl MBbls
Term July 2023 To December 2023 \| Three-way collars
Derivative Financial Instruments
Volume \| MBbls		3,000
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)		1.34
Sold Put (usd per bbl)		49.17
Floor (usd per bbl)		71.67
Ceiling (usd per bbl)		107.58
Term July 2023 To December 2023 \| Two-way collars
Derivative Financial Instruments
Volume \| MBbls		2,500
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)		1.69
Sold Put (usd per bbl)		0
Floor (usd per bbl)		72.00
Ceiling (usd per bbl)		112.00
Term January 2024 To December 2024 \| Three-way collars
Derivative Financial Instruments
Volume \| MBbls		2,000
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)		1.35
Sold Put (usd per bbl)		45.00
Floor (usd per bbl)		70.00
Ceiling (usd per bbl)		97.50
Term January 2024 To December 2024 \| Three-way collars \| Subsequent Event
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)	2.0
Sold Put (usd per bbl)	45.00
Floor (usd per bbl)	70.00
Ceiling (usd per bbl)	95.00
Term January 2024 To June 2024 \| Two-way collars
Derivative Financial Instruments
Volume \| MBbls		2,000
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)		1.24
Sold Put (usd per bbl)		0
Floor (usd per bbl)		65.00
Ceiling (usd per bbl)		85.00

Income Taxes

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

We evaluate our estimated annual effective income tax rate each quarter, based on current and forecasted business results and enacted tax laws, and apply this tax rate to our ordinary income or loss to calculate our estimated tax expense or benefit. The Company excludes zero statutory tax rate and tax-exempt jurisdictions from our evaluation of the estimated annual effective income tax rate. The tax effect of discrete items are recognized in the period in which they occur at the applicable statutory tax rate.

Income before income taxes is composed of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
United States	$	(24,529)	$	52,381	$	(49,123)	$	61,664
Foreign	77,712		141,770		241,938		145,340
Income before income taxes	$	53,183	$	194,151	$	192,815	$	207,004

For the three months ended, June 30, 2023 and 2022, our effective tax rate was 56% and 40%, respectively. For the six months ended June 30, 2023 and 2022, our effective tax rate was 45% and 43%, respectively. For the three and six months ended June 30, 2023 and 2022, our overall effective tax rates were impacted by:

•The difference in our 21% U.S. income tax reporting rate and the 35% statutory tax rates applicable to our Ghanaian and Equatorial Guinean operations,

•Jurisdictions that have a 0% statutory tax rate or that are tax exempt,

•Jurisdictions where we have incurred losses and have recorded valuation allowances against the corresponding deferred tax assets, and

•Other non-deductible expenses, primarily in the U.S.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Fair Value Measurements - Schedule of Company's Assets and Liabilities (Details) - Recurring basis - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Liabilities:
Total derivatives not designated as hedging instruments	$ 13,540	$ 2,688
Quoted Prices in Active Markets for Identical Assets (Level 1)
Liabilities:
Total derivatives not designated as hedging instruments	0	0
Significant Other Observable Inputs (Level 2)
Liabilities:
Total derivatives not designated as hedging instruments	13,540	2,688
Significant Unobservable Inputs (Level 3)
Liabilities:
Total derivatives not designated as hedging instruments	0	0
Commodity derivatives
Assets:
Derivative asset, fair value	14,775	9,069
Liabilities:
Derivative liability, fair value	(1,235)	(7,551)
Commodity derivatives \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Derivative asset, fair value	0	0
Liabilities:
Derivative liability, fair value	0	0
Commodity derivatives \| Significant Other Observable Inputs (Level 2)
Assets:
Derivative asset, fair value	14,775	9,069
Liabilities:
Derivative liability, fair value	(1,235)	(7,551)
Commodity derivatives \| Significant Unobservable Inputs (Level 3)
Assets:
Derivative asset, fair value	0	0
Liabilities:
Derivative liability, fair value	0	0
Provisional oil sales
Assets:
Derivative asset, fair value	0	1,170
Provisional oil sales \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Derivative asset, fair value	0	0
Provisional oil sales \| Significant Other Observable Inputs (Level 2)
Assets:
Derivative asset, fair value	0	1,170
Provisional oil sales \| Significant Unobservable Inputs (Level 3)
Assets:
Derivative asset, fair value	$ 0	$ 0

Equity-based Compensation - Schedule of Awards (Details) - LTIP shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Service Vesting Restricted Stock Units
Outstanding unvested awards activity
Outstanding at the beginning of the period (in shares) \| shares	4,916
Granted (in shares) \| shares	2,687
Forfeited (in shares) \| shares	(151)
Vested (in shares) \| shares	(2,728)
Outstanding at the end of the period (in shares) \| shares	4,724
Weighted-Average Grant-Date Fair Value
Outstanding at beginning of the period (in dollars per share)	$ 4.18
Granted (in dollars per share)	7.60
Forfeited (in dollars per share)	5.46
Vested (in dollars per share)	3.86
Outstanding at the end of the period (in dollars per share)	$ 5.70
Market/Service Vesting Restricted Stock Units
Outstanding unvested awards activity
Outstanding at the beginning of the period (in shares) \| shares	12,041
Granted (in shares) \| shares	3,415
Forfeited (in shares) \| shares	(64)
Vested (in shares) \| shares	(2,949)
Outstanding at the end of the period (in shares) \| shares	12,443
Weighted-Average Grant-Date Fair Value
Outstanding at beginning of the period (in dollars per share)	$ 5.61
Granted (in dollars per share)	12.25
Forfeited (in dollars per share)	8.47
Vested (in dollars per share)	8.22
Outstanding at the end of the period (in dollars per share)	6.57
Market/Service Vesting Restricted Stock Units \| Minimum
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share)	$ 1.06
Vesting percentage of the awards granted (as a percent)	0.00%
Market/Service Vesting Restricted Stock Units \| Maximum
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share)	$ 12.33
Vesting percentage of the awards granted (as a percent)	200.00%
Percent threshold target for grants and forfeitures (as a percent)	100.00%

Long-term Receivables (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
Long-term Receivables (Details) $ in Thousands	Feb. 28, 2019 USD ($) agreement	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Oil and Gas Joint Interest Billing Receivables [Line Items]
Long-term receivables		$ 278,744		$ 278,744		$ 235,696
National Oil Companies of Mauritania And Senegal \| Carry Advance Agreements
Oil and Gas Joint Interest Billing Receivables [Line Items]
Number of agreements \| agreement	2
Share of development costs to be financed, up to	$ 240,000
Long-term receivables		259,000		259,000		$ 218,400
Interest income, long-term notes receivable		$ 3,800	$ 2,300	$ 7,300	$ 4,300

Accounting Policies (Policies)	6 Months Ended
Accounting Policies (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
General	General The interim consolidated financial statements included in this report are unaudited and, in the opinion of management, include all adjustments of a normal recurring nature necessary for a fair presentation of the results for the interim periods. The results of the interim periods shown in this report are not necessarily indicative of the final results to be expected for the full year. The interim consolidated financial statements were prepared in accordance with the requirements of the SEC for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by GAAP have been condensed or omitted from these interim consolidated financial statements. These interim consolidated financial statements and the accompanying notes should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2022, included in our annual report on Form 10-K.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform with the current presentation. Such reclassifications had no significant impact on our reported net income, current assets, total assets, current liabilities, total liabilities, stockholders’ equity or cash flows.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted CashCash and cash equivalents include demand deposits and funds invested in highly liquid instruments with original maturities of three months or less at the date of purchase.
Joint Interest Billings	Joint Interest Billings The Company’s joint interest billings consist of receivables from partners with interests in common oil and gas properties operated by the Company for shared costs. Joint interest billings are classified on the face of the consolidated balance sheets as current and long-term receivables based on when collection is expected to occur.
Inventories	InventoriesThe Company’s materials and supplies inventory primarily consists of casing and wellheads and is stated at the lower of cost, using the weighted average cost method, or net realizable value.Hydrocarbon inventory is carried at the lower of cost, using the weighted average cost method, or net realizable value. Hydrocarbon inventory costs include expenditures and other charges incurred in bringing the inventory to its existing condition. Selling expenses and general and administrative expenses are reported as period costs and excluded from inventory costs.
Revenue Recognition	Revenue Recognition Our oil and gas revenues are recognized when hydrocarbons have been sold to a purchaser at a fixed or determinable price, title has transferred and collection is probable. Certain revenues are based on provisional price contracts which contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from oil sales at the spot price on the date of sale. The embedded derivative, which is not designated as a hedge, is marked to market through oil and gas revenue each period until the final settlement occurs, which generally is limited to the month of or month after the sale.
Concentration of Credit Risk	Concentration of Credit Risk Our revenue can be materially affected by current economic conditions and the price of oil and natural gas. However, based on the current demand for crude oil and natural gas and the fact that alternative purchasers are readily available, we believe that the loss of our purchasers and/or marketing agents would not have a long‑term material adverse effect on our financial position or results of operations.

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-18

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-20

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483426/235-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Property and Equipment

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment is stated at cost and consisted of the following:


	June 30, 2023		December 31, 2022
	(In thousands)
Oil and gas properties:
Proved properties	$	7,358,007	$	6,953,435
Unproved properties	356,288		341,334
Total oil and gas properties	7,714,295		7,294,769
Accumulated depletion	(3,640,896)		(3,457,332)
Oil and gas properties, net	4,073,399		3,837,437

Other property	61,478		60,730
Accumulated depreciation	(57,056)		(55,520)
Other property, net	4,422		5,210

Property and equipment, net	$	4,077,821	$	3,842,647

We recorded depletion expense of $82.0 million and $114.7 million for the three months ended June 30, 2023 and 2022, respectively, and $183.6 million and $266.4 million for the six months ended June 30, 2023 and 2022, respectively.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues and other income:
Oil and gas revenue	$ 273,255		$ 620,368		$ 667,495	$ 1,279,383
Gain on sale of assets	0		471		0	471
Other income, net	60		43		(313)	95
Total revenues and other income	273,315		620,882		667,182	1,279,949
Costs and expenses:
Oil and gas production	63,579		90,189		147,515	214,892
Facilities insurance modifications, net	0		(384)		0	6,752
Exploration expenses	11,015		89,565		23,015	101,441
General and administrative	23,444		24,624		52,611	50,417
Depletion, depreciation and amortization	89,913		121,679		199,287	280,648
Interest and other financing costs, net	24,371		29,382		48,939	62,521
Derivatives, net	3,031		75,204		(3,809)	357,376
Other expenses, net	4,779		(3,528)		6,809	(1,102)
Total costs and expenses	220,132		426,731		474,367	1,072,945
Income before income taxes	53,183		194,151		192,815	207,004
Income tax expense	29,838		76,978		86,161	88,431
Net income	$ 23,345	$ 83,309	$ 117,173	$ 1,400	$ 106,654	$ 118,573
Net income per share:
Basic (in dollars per share)	$ 0.05		$ 0.26		$ 0.23	$ 0.26
Diluted (in dollars per share)	$ 0.05		$ 0.25		$ 0.22	$ 0.25
Weighted average number of shares used to compute net income per share:
Basic (in shares)	459,984		455,512		459,155	454,811
Diluted (in shares)	479,016		475,645		478,902	473,471

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Oil and gas properties:
Proved properties	$ 7,358,007		$ 7,358,007		$ 6,953,435
Unproved properties	356,288		356,288		341,334
Total oil and gas properties	7,714,295		7,714,295		7,294,769
Accumulated depletion	(3,640,896)		(3,640,896)		(3,457,332)
Oil and gas properties, net	4,073,399		4,073,399		3,837,437
Other property	61,478		61,478		60,730
Accumulated depreciation	(57,056)		(57,056)		(55,520)
Other property, net	4,422		4,422		5,210
Property and equipment, net	4,077,821	$ 4,032,327	4,077,821	$ 4,032,327	$ 3,842,647
Depletion expense	$ 82,000	$ 114,700	$ 183,600	$ 266,400

Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Schedule of cash and cash equivalents


	June 30, 2023		December 31, 2022
	(In thousands)
Cash and cash equivalents	$	85,729	$	183,405

Restricted cash - long-term	3,416		3,416
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	89,145	$	186,821

Schedule of oil and gas revenue

Oil and gas revenue is composed of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Revenues from contract with customers - Equatorial Guinea	$	37,542	$	113,608	$	107,739	$	222,353
Revenues from contract with customers - Ghana	143,060		325,078		380,579		742,185
Revenues from contract with customers - U.S. Gulf of Mexico	91,740		183,046		182,766		324,843
Provisional oil sales contracts	913		(1,364)		(3,589)		(9,998)
Oil and gas revenue	$	273,255	$	620,368	$	667,495	$	1,279,383

Debt - Senior Notes (Details) - Senior Notes - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019
7.125% Senior Notes
Debt Instrument [Line Items]
Debt, face amount			$ 650.0
Interest rate (as a percent)			7.125%
Proceeds from debt, net of issuance costs			$ 640.0
7.750% Senior Notes
Debt Instrument [Line Items]
Debt, face amount	$ 400.0
Interest rate (as a percent)	7.75%
Proceeds from debt, net of issuance costs	$ 395.0
7.500% Senior Notes
Debt Instrument [Line Items]
Debt, face amount		$ 450.0
Interest rate (as a percent)		7.50%
Proceeds from debt, net of issuance costs		$ 444.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Accounting Policies - Summary of Oil and Gas Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Provisional oil sales contracts	$ (2,118)	$ (76,568)	$ 220	$ (367,374)
Oil and gas revenue	273,255	620,368	667,495	1,279,383
Oil and gas revenue
Disaggregation of Revenue [Line Items]
Provisional oil sales contracts	913	(1,364)	(3,589)	(9,998)
Oil and gas revenue	273,255	620,368	667,495	1,279,383
Equatorial Guinea
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	37,542	113,608	107,739	222,353
Ghana
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	143,060	325,078	380,579	742,185
U.S. Gulf of Mexico
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 91,740	$ 183,046	$ 182,766	$ 324,843

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Acquisitions and Divestitures (Details)	1 Months Ended
Acquisitions and Divestitures (Details)	Feb. 28, 2023	Mar. 31, 2023	Feb. 28, 2023 a	Feb. 28, 2023 km²
Block EG-01 Offshore Equatorial Guinea \| Petroleum Contract
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participation interest	24.00%
Area of block			59,400	240
First exploration period	3 years
Block EG-01 Offshore Equatorial Guinea \| Petroleum Contract \| Panoro Energy ASA
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participation interest	56.00%
Block EG-01 Offshore Equatorial Guinea \| Petroleum Contract \| Guinea Equatorial De Petroleos
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Carried participating interest	20.00%
Participating interest following conversion from carried participation interest	20.00%
Block S Offshore Equatorial Guinea \| Farm Out Agreement
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participation interest		34.00%
Block S Offshore Equatorial Guinea \| Farm Out Agreement \| Panoro Energy ASA
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participation interest		6.00%

Equity-based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of outstanding restricted stock units

The following table reflects the outstanding restricted stock units as of June 30, 2023:


		Weighted-		Market / Service	Weighted-
	Service Vesting	Average		Vesting	Average
	Restricted Stock	Grant-Date		Restricted Stock	Grant-Date
	Units	Fair Value		Units	Fair Value
	(In thousands)			(In thousands)
Outstanding at December 31, 2022	4,916	$	4.18	12,041	$	5.61
Granted(1)	2,687	7.60		3,415	12.25
Forfeited(1)	(151)	5.46		(64)	8.47
Vested	(2,728)	3.86		(2,949)	8.22
Outstanding at June 30, 2023	4,724	5.70		12,443	6.57

__________________________________

(1)The restricted stock units with a combination of market and service vesting criteria may vest between 0% and 200% of the originally granted units depending upon market performance conditions. Awards vesting over or under target shares of 100% results in additional shares granted or forfeited, respectively, in the period the market vesting criteria is determined.

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2023 USD ($) well	Dec. 31, 2022 USD ($)
Greater Tortue FPSO \| BP Operator
Operating Leased Assets [Line Items]
Contract liability, noncurrent	$ 200.2
Equatorial Guinea
Operating Leased Assets [Line Items]
Number of development wells \| well	3
Number of exploration wells \| well	1
U.S. Gulf of Mexico \| Bureau of Ocean Energy Management \| Surety Bond
Operating Leased Assets [Line Items]
Required performance bonds	$ 195.5	$ 195.5
U.S. Gulf of Mexico \| Third Party \| Surety Bond
Operating Leased Assets [Line Items]
Required performance bonds	$ 9.7	$ 9.7

Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of debt


	June 30, 2023		December 31, 2022
	(In thousands)
Outstanding debt principal balances:
Facility	$	775,000	$	625,000

7.125% Senior Notes	650,000		650,000
7.750% Senior Notes	400,000		400,000
7.500% Senior Notes	450,000		450,000
GoM Term Loan	137,500		145,000
Total long-term debt	2,412,500		2,270,000
Unamortized deferred financing costs and discounts	(38,811)		(44,089)
Total debt, net	2,373,689		2,225,911
Less: Current maturities of long-term debt	(15,000)		(30,000)
Long-term debt, net	$	2,358,689	$	2,195,911

Schedule of estimated repayments of debt

At June 30, 2023, the estimated repayments of debt during the five fiscal year periods and thereafter are as follows:


	Payments Due by Year
	Total		2023(2)		2024		2025		2026		2027		Thereafter
	(In thousands)
Principal debt repayments(1)	$	2,412,500	$	—	$	123,047	$	334,950	$	929,282	$	575,221	$	450,000

__________________________________

(2)Represents payments for the period July 1, 2023 through December 31, 2023.

Schedule of interest and other financing costs, net

Interest and other financing costs, net incurred during the periods is comprised of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Interest expense	$	51,965	$	43,016	$	100,480	$	86,178
Amortization—deferred financing costs	2,530		2,591		5,081		5,261
Loss on extinguishment of debt	—		—		—		192
Capitalized interest	(33,688)		(19,187)		(63,891)		(35,326)
Deferred interest	670		10		353		(1,440)
Interest income	(4,445)		(3,344)		(8,586)		(4,884)
Other, net	7,339		6,296		15,502		12,540
Interest and other financing costs, net	$	24,371	$	29,382	$	48,939	$	62,521

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482949/835-30-55-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of business segment information

Financial information for each area is presented below:


	Ghana		Equatorial Guinea		Mauritania/Senegal		U.S. Gulf of Mexico		Corporate & Other		Eliminations		Total
	(In thousands)
Three months ended June 30, 2023
Revenues and other income:
Oil and gas revenue	$	146,850	$	34,665	$	—	$	91,740	$	—	$	—	$	273,255

Other income, net	—		10		—		1,067		42,940		(43,957)		60
Total revenues and other income	146,850		34,675		—		92,807		42,940		(43,957)		273,315
Costs and expenses:
Oil and gas production	21,627		14,840		—		27,112		—		—		63,579

Exploration expenses	163		1,796		3,605		3,552		1,899		—		11,015
General and administrative	3,284		1,151		1,830		4,673		53,431		(40,925)		23,444
Depletion, depreciation and amortization	42,347		8,557		207		38,449		353		—		89,913

Interest and other financing costs, net(1)	8,408		(699)		(29,547)		3,000		43,209		—		24,371
Derivatives, net	—		—		—		—		3,031		—		3,031
Other expenses, net	2,903		383		1,516		1,678		1,331		(3,032)		4,779
Total costs and expenses	78,732		26,028		(22,389)		78,464		103,254		(43,957)		220,132
Income (loss) before income taxes	68,118		8,647		22,389		14,343		(60,314)		—		53,183
Income tax expense	24,465		3,775		—		225		1,373		—		29,838
Net income (loss)	$	43,653	$	4,872	$	22,389	$	14,118	$	(61,687)	$	—	$	23,345

Consolidated capital expenditures, net	$	83,556	$	17,823	$	46,689	$	19,639	$	1,938	$	—	$	169,645


	Ghana		Equatorial Guinea		Mauritania/Senegal		U.S. Gulf of Mexico		Corporate & Other		Eliminations		Total
	(In thousands)
Six months ended June 30, 2023
Revenues and other income:
Oil and gas revenue	$	380,100	$	104,629	$	—	$	182,766	$	—	$	—	$	667,495

Other income, net	(425)		10		—		2,086		70,914		(72,898)		(313)
Total revenues and other income	379,675		104,639		—		184,852		70,914		(72,898)		667,182
Costs and expenses:
Oil and gas production	51,236		43,923		—		52,356		—		—		147,515

Exploration expenses	637		4,083		8,219		7,177		2,899		—		23,015
General and administrative	7,446		2,662		4,803		9,807		104,600		(76,707)		52,611
Depletion, depreciation and amortization	100,108		22,083		402		75,964		730		—		199,287

Interest and other financing costs, net(1)	28,167		(1,386)		(55,649)		6,092		71,715		—		48,939
Derivatives, net	—		—		—		—		(3,809)		—		(3,809)
Other expenses, net	(3,655)		(47)		2,721		2,801		1,180		3,809		6,809
Total costs and expenses	183,939		71,318		(39,504)		154,197		177,315		(72,898)		474,367
Income (loss) before income taxes	195,736		33,321		39,504		30,655		(106,401)		—		192,815
Income tax expense	69,864		13,360		—		1,065		1,872		—		86,161
Net income (loss)	$	125,872	$	19,961	$	39,504	$	29,590	$	(108,273)	$	—	$	106,654

Consolidated capital expenditures, net	$	149,478	$	24,956	$	149,751	$	48,319	$	3,574	$	—	$	376,078

As of June 30, 2023
Property and equipment, net	$	1,262,286	$	401,672	$	1,599,864	$	797,556	$	16,443	$	—	$	4,077,821
Total assets	$	3,198,853	$	1,610,111	$	2,340,829	$	3,780,742	$	20,248,788	$	(26,371,703)	$	4,807,619

______________________________________

(1)Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside.


	Ghana(2)		Equatorial Guinea		Mauritania/Senegal		U.S. Gulf of Mexico		Corporate & Other		Eliminations		Total
	(In thousands)
Three months ended June 30, 2022
Revenues and other income:
Oil and gas revenue	$	326,091	$	111,231	$	—	$	183,046	$	—	$	—	$	620,368
Gain on sale of assets	—		—		—		471		—		—		471
Other income, net	—		—		—		484		108,192		(108,633)		43
Total revenues and other income	326,091		111,231		—		184,001		108,192		(108,633)		620,882
Costs and expenses:
Oil and gas production	37,776		25,839		—		26,574		—		—		90,189
Facilities insurance modifications, net	(384)		—		—		—		—		—		(384)
Exploration expenses	1,903		1,366		74,975		10,520		801		—		89,565
General and administrative	3,444		1,415		2,270		3,433		47,491		(33,429)		24,624
Depletion, depreciation and amortization	62,376		15,050		61		43,753		439		—		121,679

Interest and other financing costs, net(1)	14,260		(607)		(15,662)		2,734		28,657		—		29,382
Derivatives, net	—		—		—		—		75,204		—		75,204
Other expenses, net	66,235		4,894		(1,930)		4,295		(1,818)		(75,204)		(3,528)
Total costs and expenses	185,610		47,957		59,714		91,309		150,774		(108,633)		426,731
Income (loss) before income taxes	140,481		63,274		(59,714)		92,692		(42,582)		—		194,151
Income tax expense	49,798		24,719		—		—		2,461		—		76,978
Net income (loss)	$	90,683	$	38,555	$	(59,714)	$	92,692	$	(45,043)	$	—	$	117,173

Consolidated capital expenditures, net	$	56,128	$	14,074	$	136,615	$	39,940	$	1,534	$	—	$	248,291


	Ghana(2)		Equatorial Guinea		Mauritania/Senegal		U.S. Gulf of Mexico(3)		Corporate & Other		Eliminations		Total
	(In thousands)
Six months ended June 30, 2022
Revenues and other income:
Oil and gas revenue	$	735,571	$	218,969	$	—	$	324,843	$	—	$	—	$	1,279,383
Gain on sale of assets	—		—		—		471		—		—		471
Other income, net	1		—		—		1,028		423,304		(424,238)		95
Total revenues and other income	735,572		218,969		—		326,342		423,304		(424,238)		1,279,949
Costs and expenses:
Oil and gas production	113,119		48,464		—		53,309		—		—		214,892
Facilities insurance modifications, net	6,752		—		—		—		—		—		6,752
Exploration expenses	1,974		2,976		78,089		17,096		1,306		—		101,441
General and administrative	7,413		3,017		4,266		8,377		94,206		(66,862)		50,417
Depletion, depreciation and amortization	163,786		32,988		115		82,947		812		—		280,648

Interest and other financing costs, net(1)	29,286		(1,088)		(28,501)		5,458		57,366		—		62,521
Derivatives, net	—		—		—		—		357,376		—		357,376
Other expenses, net	316,797		24,017		(1,344)		17,672		(868)		(357,376)		(1,102)
Total costs and expenses	639,127		110,374		52,625		184,859		510,198		(424,238)		1,072,945
Income (loss) before income taxes	96,445		108,595		(52,625)		141,483		(86,894)		—		207,004
Income tax expense	34,780		48,049		—		3,102		2,500		—		88,431
Net income (loss)	$	61,665	$	60,546	$	(52,625)	$	138,381	$	(89,394)	$	—	$	118,573

Consolidated capital expenditures, net	$	(8,057)	$	24,296	$	147,416	$	64,244	$	2,712	$	—	$	230,611

As of June 30, 2022
Property and equipment, net	$	1,661,177	$	389,499	$	1,092,873	$	870,768	$	18,010	$	—	$	4,032,327
Total assets	$	3,127,071	$	1,097,801	$	1,540,896	$	3,605,374	$	18,046,768	$	(22,486,720)	$	4,931,190

______________________________________

(1)Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside.


	Six Months Ended June 30,
	2023		2022
	(In thousands)
Consolidated capital expenditures:
Consolidated Statements of Cash Flows - Investing activities:
Oil and gas assets	$	416,867	$	320,787
Acquisition of oil and gas properties	—		21,205
Proceeds on sale of assets	—		(118,693)
Adjustments:
Changes in capital accruals	1,290		7,061
Exploration expense, excluding unsuccessful well costs and leasehold impairments(1)	21,702		27,779
Capitalized interest	(63,891)		(35,326)
Other	110		7,798
Total consolidated capital expenditures, net	$	376,078	$	230,611

______________________________________

(1)Unsuccessful well costs and leasehold impairments are included in oil and gas assets when incurred.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 85,729	$ 183,405
Receivables:
Joint interest billings, net	34,234	28,851
Oil sales	47,411	67,483
Other	16,853	23,401
Inventories	191,412	133,515
Prepaid expenses and other	32,639	24,722
Derivatives	11,270	7,344
Total current assets	419,548	468,721
Property and equipment:
Oil and gas properties, net	4,073,399	3,837,437
Other property, net	4,422	5,210
Property and equipment, net	4,077,821	3,842,647
Other assets:
Restricted cash	3,416	3,416
Long-term receivables	278,744	235,696
Deferred financing costs, net of accumulated amortization of $14,423 and $13,263 at June 30, 2023 and December 31, 2022, respectively	3,480	4,640
Derivatives	3,505	1,725
Other	21,105	23,143
Total assets	4,807,619	4,579,988
Current liabilities:
Accounts payable	263,753	212,275
Accrued liabilities	243,880	325,206
Current maturities of long-term debt	15,000	30,000
Derivatives	1,097	6,773
Total current liabilities	523,730	574,254
Long-term liabilities:
Long-term debt, net	2,358,689	2,195,911
Derivatives	138	778
Asset retirement obligations	310,542	300,800
Deferred tax liabilities	459,417	468,445
Other long-term liabilities	251,199	251,952
Total long-term liabilities	3,379,985	3,217,886
Stockholders’ equity:
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at June 30, 2023 and December 31, 2022	0	0
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 504,344,893 and 500,161,421 issued at June 30, 2023 and December 31, 2022, respectively	5,043	5,002
Additional paid-in capital	2,515,055	2,505,694
Accumulated deficit	(1,379,187)	(1,485,841)
Treasury stock, at cost, 44,263,269 shares at June 30, 2023 and December 31, 2022, respectively	(237,007)	(237,007)
Total stockholders’ equity	903,904	787,848
Total liabilities and stockholders’ equity	$ 4,807,619	$ 4,579,988

Suspended Well Costs

6 Months Ended

Jun. 30, 2023

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Suspended Well Costs

The following table reflects the Company’s capitalized exploratory well costs on drilled wells as of and during the six months ended June 30, 2023.


	June 30, 2023
	(In thousands)
Beginning balance	$	145,957
Additions to capitalized exploratory well costs pending the determination of proved reserves	5,228
Reclassification due to determination of proved reserves	—
Capitalized exploratory well costs charged to expense	—
Ending balance	$	151,185

The following table provides an aging of capitalized exploratory well costs based on the date drilling was completed and the number of projects for which exploratory well costs have been capitalized for more than one year since the completion of drilling:


	June 30, 2023		December 31, 2022
	(In thousands, except project counts)
Exploratory well costs capitalized for a period of one year or less	$	—	$	—
Exploratory well costs capitalized for a period of one to three years	33,248		32,770
Exploratory well costs capitalized for a period of four to seven years	117,937		113,187
Ending balance	$	151,185	$	145,957
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year	2		2

As of June 30, 2023, the projects with exploratory well costs capitalized for more than one year since the completion of drilling are related to the Yakaar and Teranga discoveries in the Cayar Offshore Profond block offshore Senegal and the Asam discovery in Block S offshore Equatorial Guinea.

Yakaar and Teranga Discoveries — In May 2016, we drilled the Teranga-1 exploration well in the Cayar Offshore Profond block offshore Senegal, which encountered hydrocarbon pay. In June 2017, we drilled the Yakaar-1 exploration well in the Cayar Offshore Profond block offshore Senegal, which encountered hydrocarbon pay. In November 2017, an integrated Yakaar-Teranga appraisal plan was submitted to the government of Senegal. In September 2019, we drilled the Yakaar-2 appraisal well which encountered hydrocarbon pay. The Yakaar-2 well was drilled approximately nine kilometers from the Yakaar-1 exploration well. In July 2021, the current phase of the Cayar Block exploration license was extended up to an additional three years to 2024. The Yakaar and Teranga discoveries are being analyzed as a joint development. During the first and second quarter of 2023 we have continued progressing appraisal studies and maturing concept design. Following additional evaluation, a decision regarding commerciality is expected to be made.

Asam Discovery — In October 2019, we drilled the S-5 exploration well offshore Equatorial Guinea, which encountered hydrocarbon pay. The discovery was subsequently named Asam. In July 2020, an appraisal work program was approved by the government of Equatorial Guinea. The well is located within tieback range of the Ceiba FPSO and the appraisal work program is currently ongoing to integrate all available data into models to establish the scale of the discovered resource and evaluate the optimum development solution. During the fourth quarter of 2022, we received approval from the Government of Equatorial Guinea to enter the second sub-period phase of the Block S exploration license with a scheduled expiration in December 2024. Additionally, in December 2022 the Asam Field appraisal report was submitted to the Government of Equatorial Guinea. During the first and second quarter of 2023, studies and concept design continued to progress. Following additional evaluation, a decision regarding commerciality is expected to be made.

Debt - Debt Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Debt - Debt Interest (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Disclosure [Abstract]
Interest expense	$ 51,965	$ 43,016	$ 100,480	$ 86,178
Amortization—deferred financing costs	2,530	2,591	5,081	5,261
Loss on extinguishment of debt	0	0	0	192
Capitalized interest	(33,688)	(19,187)	(63,891)	(35,326)
Deferred interest	670	10	353	(1,440)
Interest income	(4,445)	(3,344)	(8,586)	(4,884)
Other, net	7,339	6,296	15,502	12,540
Interest and other financing costs, net	$ 24,371	$ 29,382	$ 48,939	$ 62,521

Fair Value Measurements - Narratives (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019
Fair Value Measurements
Impairment of long-lived assets	$ 0.0	$ 0.0	$ 0.0	$ 0.0
7.125% Senior Notes \| Senior Notes
Fair Value Measurements
Interest rate (as a percent)							7.125%
7.750% Senior Notes \| Senior Notes
Fair Value Measurements
Interest rate (as a percent)					7.75%
7.500% Senior Notes \| Senior Notes
Fair Value Measurements
Interest rate (as a percent)						7.50%

Additional Financial Information - Other Expenses, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Additional Financial Information
Loss on disposal of inventory	$ 2,704	$ 68	$ 2,939	$ 285
Loss on asset retirement obligations liability settlements	0	238	115	620
Restructuring charges	0	(9)	0	(4)
Other, net	2,075	(3,825)	3,755	(2,003)
Other expenses, net	$ 4,779	$ (3,528)	$ 6,809	$ (1,102)

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, we are involved in litigation, regulatory examinations and administrative proceedings primarily arising in the ordinary course of our business in jurisdictions in which we do business. Although the outcome of these matters cannot be predicted with certainty, management believes none of these matters, either individually or in the aggregate, would have a material effect upon the Company’s financial position; however, an unfavorable outcome could have a material adverse effect on our results from operations for a specific interim period or year. We have a commitment to drill three development wells and one exploration well in Equatorial Guinea. We have a $200.2 million FPSO Contract Liability in Other long-term liabilities related to the deferred sale of the Greater Tortue FPSO. Performance Obligations As of June 30, 2023 and December 31, 2022, the Company had performance bonds totaling $195.5 million for our supplemental bonding requirements stipulated by the BOEM and $9.7 million to third parties related to costs anticipated for the plugging and abandonment of certain wells and the removal of certain facilities in our U.S. Gulf of Mexico fields.

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income allocable to common stockholders	$ 23,345	$ 83,309	$ 117,173	$ 1,400	$ 106,654	$ 118,573
Weighted average number of shares outstanding:
Basic (in shares)	459,984		455,512		459,155	454,811
Restricted stock units (in shares)	19,032		20,133		19,747	18,660
Diluted (in shares)	479,016		475,645		478,902	473,471
Net income per share:
Basic (in dollars per share)	$ 0.05		$ 0.26		$ 0.23	$ 0.26
Diluted (in dollars per share)	$ 0.05		$ 0.25		$ 0.22	$ 0.25
Outstanding restricted stock units excluded from the computations of diluted net income per share (in shares)	1,800		100		1,400	100

Debt - Facility (Details) - Facility - Revolving Credit Facility - USD ($) $ in Millions		1 Months Ended	6 Months Ended
	Apr. 19, 2023	Apr. 30, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Amount outstanding			$ 775.0
Undrawn availability			$ 370.1
Maximum borrowing capacity		$ 1,150.0
Reduction of borrowing capacity		$ 100.0
Interval period for payment of interest (in months)			6 months
Commitment fees percentage			30.00%
Unavailable capacity commitment fee percentage			20.00%
Minimum \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin (as a percent)	3.75%
Maximum \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin (as a percent)	5.00%

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of oil derivative contracts

The following table sets forth the volumes in barrels underlying the Company’s outstanding oil derivative contracts and the weighted average prices per Bbl for those contracts as of June 30, 2023. Volumes and weighted average prices are net of any offsetting derivative contracts entered into.


				Weighted Average Price per Bbl
				Net Deferred
				Premium
				Payable/		Sold
Term	Type of Contract	Index	MBbl	(Receivable)		Put		Floor		Ceiling
2023:
Jul - Dec	Three-way collars	Dated Brent	3,000	$	1.34	$	49.17	$	71.67	$	107.58
Jul - Dec	Two-way collars	Dated Brent	2,500	1.69		—		72.00		112.00


2024:
Jan - Dec	Three-way collars	Dated Brent	2,000	1.35		45.00		70.00		97.50
Jan - Jun	Two-way collars	Dated Brent	2,000	1.24		—		65.00		85.00

__________________________________

Schedule of derivative instruments by balance sheet location

The following tables disclose the Company’s derivative instruments as of June 30, 2023 and December 31, 2022, and gain/(loss) from derivatives during the three and six months ended June 30, 2023 and 2022, respectively:


		Estimated Fair Value
		Asset (Liability)
Type of Contract	Balance Sheet Location	June 30, 2023		December 31, 2022
		(In thousands)
Derivatives not designated as hedging instruments:
Derivative assets:
Commodity	Derivatives assets—current	$	11,270	$	7,344
Provisional oil sales	Receivables: Oil sales	—		1,170
Commodity	Derivatives assets—long-term	3,505		1,725
Derivative liabilities:
Commodity	Derivatives liabilities—current	(1,097)		(6,773)
Commodity	Derivatives liabilities—long-term	(138)		(778)
Total derivatives not designated as hedging instruments		$	13,540	$	2,688

Schedule of derivative instruments by location of gain/(loss)


		Amount of Gain/(Loss)				Amount of Gain/(Loss)
		Three Months Ended				Six Months Ended
		June 30,				June 30,
Type of Contract	Location of Gain/(Loss)	2023		2022		2023		2022
		(In thousands)
Derivatives not designated as hedging instruments:
Provisional oil sales	Oil and gas revenue	$	913	$	(1,364)	$	(3,589)	$	(9,998)
Commodity	Derivatives, net	(3,031)		(75,204)		3,809		(357,376)
Total derivatives not designated as hedging instruments		$	(2,118)	$	(76,568)	$	220	$	(367,374)

Suspended Well Costs - Narrative (Details) - Yakaar and Teranga Discoveries - km	1 Months Ended
	Jul. 31, 2021	Sep. 30, 2019
Capitalized Contract Cost [Line Items]
Distance from Yakaar-2 well to Yakaar-1 exploration well		9
Additional term from exploration license extension	3 years

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

We use financial derivative contracts to manage exposures to commodity price and interest rate fluctuations. We do not hold or issue derivative financial instruments for trading purposes.

We manage market and counterparty credit risk in accordance with our policies and guidelines. In accordance with these policies and guidelines, our management determines the appropriate timing and extent of derivative transactions. We have included an estimate of non-performance risk in the fair value measurement of our derivative contracts as required by ASC 820 — Fair Value Measurement.

Oil Derivative Contracts


				Weighted Average Price per Bbl
				Net Deferred
				Premium
				Payable/		Sold
Term	Type of Contract	Index	MBbl	(Receivable)		Put		Floor		Ceiling
2023:
Jul - Dec	Three-way collars	Dated Brent	3,000	$	1.34	$	49.17	$	71.67	$	107.58
Jul - Dec	Two-way collars	Dated Brent	2,500	1.69		—		72.00		112.00


2024:
Jan - Dec	Three-way collars	Dated Brent	2,000	1.35		45.00		70.00		97.50
Jan - Jun	Two-way collars	Dated Brent	2,000	1.24		—		65.00		85.00

__________________________________

In July 2023, we entered into Dated Brent three-way collar contracts for 2.0 MMBbl from January 2024 through December 2024 with sold put price of $45.00 per barrel, a floor price of $70.00 per barrel and a ceiling price of $95.00 per barrel.


		Estimated Fair Value
		Asset (Liability)
Type of Contract	Balance Sheet Location	June 30, 2023		December 31, 2022
		(In thousands)
Derivatives not designated as hedging instruments:
Derivative assets:
Commodity	Derivatives assets—current	$	11,270	$	7,344
Provisional oil sales	Receivables: Oil sales	—		1,170
Commodity	Derivatives assets—long-term	3,505		1,725
Derivative liabilities:
Commodity	Derivatives liabilities—current	(1,097)		(6,773)
Commodity	Derivatives liabilities—long-term	(138)		(778)
Total derivatives not designated as hedging instruments		$	13,540	$	2,688


		Amount of Gain/(Loss)				Amount of Gain/(Loss)
		Three Months Ended				Six Months Ended
		June 30,				June 30,
Type of Contract	Location of Gain/(Loss)	2023		2022		2023		2022
		(In thousands)
Derivatives not designated as hedging instruments:
Provisional oil sales	Oil and gas revenue	$	913	$	(1,364)	$	(3,589)	$	(9,998)
Commodity	Derivatives, net	(3,031)		(75,204)		3,809		(357,376)
Total derivatives not designated as hedging instruments		$	(2,118)	$	(76,568)	$	220	$	(367,374)

Offsetting of Derivative Assets and Derivative Liabilities

Our derivative instruments which are subject to master netting arrangements with our counterparties only have the right of offset when there is an event of default. As of June 30, 2023 and December 31, 2022, there was not an event of default and, therefore, the associated gross asset or gross liability amounts related to these arrangements are presented on the consolidated balance sheets.

Debt - Schedule of Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019
Line of Credit Facility [Line Items]
Outstanding debt principal	$ 2,412,500	$ 2,270,000
Unamortized deferred financing costs and discounts	(38,811)	(44,089)
Total debt, net	2,373,689	2,225,911
Less: Current maturities of long-term debt	(15,000)	(30,000)
Long-term debt, net	2,358,689	2,195,911
Facility \| Revolving credit facility
Line of Credit Facility [Line Items]
Outstanding debt principal	775,000	625,000
7.125% Senior Notes \| Senior Notes
Line of Credit Facility [Line Items]
Interest rate (as a percent)					7.125%
Outstanding debt principal	650,000	650,000
7.750% Senior Notes \| Senior Notes
Line of Credit Facility [Line Items]
Interest rate (as a percent)			7.75%
Outstanding debt principal	400,000	400,000
7.500% Senior Notes \| Senior Notes
Line of Credit Facility [Line Items]
Interest rate (as a percent)				7.50%
Outstanding debt principal	450,000	450,000
GoM Term Loan \| Secured Debt
Line of Credit Facility [Line Items]
Outstanding debt principal	137,500	$ 145,000
Less: Current maturities of long-term debt	$ (15,000)

Accounting Policies - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 85,729	$ 183,405
Restricted cash - long-term	3,416	3,416
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$ 89,145	$ 186,821	$ 223,659	$ 174,896

Accounting Policies

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Accounting Policies

General

The interim consolidated financial statements included in this report are unaudited and, in the opinion of management, include all adjustments of a normal recurring nature necessary for a fair presentation of the results for the interim periods. The results of the interim periods shown in this report are not necessarily indicative of the final results to be expected for the full year. The interim consolidated financial statements were prepared in accordance with the requirements of the SEC for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by GAAP have been condensed or omitted from these interim consolidated financial statements. These interim consolidated financial statements and the accompanying notes should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2022, included in our annual report on Form 10-K.

Reclassifications

Certain prior period amounts have been reclassified to conform with the current presentation. Such reclassifications had no significant impact on our reported net income, current assets, total assets, current liabilities, total liabilities, stockholders’ equity or cash flows.

Cash, Cash Equivalents and Restricted Cash


	June 30, 2023		December 31, 2022
	(In thousands)
Cash and cash equivalents	$	85,729	$	183,405

Restricted cash - long-term	3,416		3,416
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	89,145	$	186,821

Cash and cash equivalents include demand deposits and funds invested in highly liquid instruments with original maturities of three months or less at the date of purchase.

Joint Interest Billings

The Company’s joint interest billings consist of receivables from partners with interests in common oil and gas properties operated by the Company for shared costs. Joint interest billings are classified on the face of the consolidated balance sheets as current and long-term receivables based on when collection is expected to occur.

Inventories

Inventories consisted of $143.4 million and $125.3 million of materials and supplies and $48.0 million and $8.2 million of hydrocarbons as of June 30, 2023 and December 31, 2022, respectively. The Company’s materials and supplies inventory primarily consists of casing and wellheads and is stated at the lower of cost, using the weighted average cost method, or net realizable value.

Hydrocarbon inventory is carried at the lower of cost, using the weighted average cost method, or net realizable value. Hydrocarbon inventory costs include expenditures and other charges incurred in bringing the inventory to its existing condition. Selling expenses and general and administrative expenses are reported as period costs and excluded from inventory costs.

Revenue Recognition

Our oil and gas revenues are recognized when hydrocarbons have been sold to a purchaser at a fixed or determinable price, title has transferred and collection is probable. Certain revenues are based on provisional price contracts which contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from oil sales at the spot price on the date of sale. The embedded derivative, which is not designated as a hedge, is marked to market through oil and gas revenue each period until the final settlement occurs, which generally is limited to the month of or month after the sale.

Oil and gas revenue is composed of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Revenues from contract with customers - Equatorial Guinea	$	37,542	$	113,608	$	107,739	$	222,353
Revenues from contract with customers - Ghana	143,060		325,078		380,579		742,185
Revenues from contract with customers - U.S. Gulf of Mexico	91,740		183,046		182,766		324,843
Provisional oil sales contracts	913		(1,364)		(3,589)		(9,998)
Oil and gas revenue	$	273,255	$	620,368	$	667,495	$	1,279,383

Concentration of Credit Risk

Our revenue can be materially affected by current economic conditions and the price of oil and natural gas. However, based on the current demand for crude oil and natural gas and the fact that alternative purchasers are readily available, we believe that the loss of our purchasers and/or marketing agents would not have a long‑term material adverse effect on our financial position or results of operations.

Additional Financial Information

6 Months Ended

Jun. 30, 2023

Additional Financial Information

Additional Financial Information

Accrued Liabilities

Accrued liabilities consisted of the following:


	June 30, 2023		December 31, 2022
	(In thousands)
Accrued liabilities:
Exploration, development and production	$	66,331	$	80,598
Revenue payable	20,676		26,087
Current asset retirement obligations	9,504		1,732
General and administrative expenses	18,028		32,069
Interest	40,951		44,740
Income taxes	77,199		127,183
Taxes other than income	1,510		1,524
Derivatives	1,242		6,440
Other	8,439		4,833
	$	243,880	$	325,206

Asset Retirement Obligations

The following table summarizes the changes in the Company's asset retirement obligations as of and during the six months ended June 30, 2023:


	June 30, 2023
	(In thousands)
Asset retirement obligations:
Beginning asset retirement obligations	$	302,534
Liabilities incurred during period	6,580
Liabilities settled during period	(3,342)
Revisions in estimated retirement obligations	88
Accretion expense	14,186
Ending asset retirement obligations	$	320,046

Other Expenses, Net

Other expenses, net incurred during the period is comprised of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Loss on disposal of inventory	$	2,704	$	68	$	2,939	$	285
Loss on asset retirement obligations liability settlements	—		238		115		620
Restructuring charges	—		(9)		—		(4)
Other, net	2,075		(3,825)		3,755		(2,003)
Other expenses, net	$	4,779	$	(3,528)	$	6,809	$	(1,102)

Organization (Details)	6 Months Ended
Organization (Details)	Jun. 30, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable geographic areas	4

Additional Financial Information - Schedule of Changes in Asset Retirement Obligations (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Asset retirement obligations:
Beginning asset retirement obligations	$ 302,534
Liabilities incurred during period	6,580
Liabilities settled during period	(3,342)
Revisions in estimated retirement obligations	88
Accretion expense	14,186
Ending asset retirement obligations	$ 320,046

Net Income Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Net Income Per Share


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
	(In thousands, except per share data)
Numerator:
Net income allocable to common stockholders	$	23,345	$	117,173	$	106,654	$	118,573




Denominator:
Weighted average number of shares outstanding:
Basic	459,984		455,512		459,155		454,811
Restricted stock units(1)	19,032		20,133		19,747		18,660
Diluted	479,016		475,645		478,902		473,471
Net income per share:
Basic	$	0.05	$	0.26	$	0.23	$	0.26
Diluted	$	0.05	$	0.25	$	0.22	$	0.25

__________________________________

Suspended Well Costs (Tables)

6 Months Ended

Jun. 30, 2023

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Schedule of capitalized exploratory well costs

The following table reflects the Company’s capitalized exploratory well costs on drilled wells as of and during the six months ended June 30, 2023.


	June 30, 2023
	(In thousands)
Beginning balance	$	145,957
Additions to capitalized exploratory well costs pending the determination of proved reserves	5,228
Reclassification due to determination of proved reserves	—
Capitalized exploratory well costs charged to expense	—
Ending balance	$	151,185

Schedule of aging of capitalized exploratory well costs and number of projects for which exploratory well costs were capitalized for more than one year


	June 30, 2023		December 31, 2022
	(In thousands, except project counts)
Exploratory well costs capitalized for a period of one year or less	$	—	$	—
Exploratory well costs capitalized for a period of one to three years	33,248		32,770
Exploratory well costs capitalized for a period of four to seven years	117,937		113,187
Ending balance	$	151,185	$	145,957
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year	2		2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock
Balance at the beginning (in shares) at Dec. 31, 2021		496,152
Balance at the beginning at Dec. 31, 2021	$ 529,237	$ 4,962	$ 2,473,674	$ (1,712,392)	$ (237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	12		12
Equity-based compensation	8,425		8,425
Restricted stock units (in shares)		3,377
Restricted stock units	0	$ 33	(33)
Tax withholdings on restricted stock units	(2,753)		(2,753)
Net income	1,400			1,400
Balance at the end (in shares) at Mar. 31, 2022		499,529
Balance at the end at Mar. 31, 2022	536,321	$ 4,995	2,479,325	(1,710,992)	(237,007)
Balance at the beginning (in shares) at Dec. 31, 2021		496,152
Balance at the beginning at Dec. 31, 2021	529,237	$ 4,962	2,473,674	(1,712,392)	(237,007)
Increase (Decrease) in Shareholders' Equity
Net income	118,573
Balance at the end (in shares) at Jun. 30, 2022		500,016
Balance at the end at Jun. 30, 2022	662,366	$ 5,000	2,488,192	(1,593,819)	(237,007)
Balance at the beginning (in shares) at Mar. 31, 2022		499,529
Balance at the beginning at Mar. 31, 2022	536,321	$ 4,995	2,479,325	(1,710,992)	(237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	(14)		(14)
Equity-based compensation	8,886		8,886
Restricted stock units (in shares)		487
Restricted stock units	0	$ 5	(5)
Net income	117,173			117,173
Balance at the end (in shares) at Jun. 30, 2022		500,016
Balance at the end at Jun. 30, 2022	662,366	$ 5,000	2,488,192	(1,593,819)	(237,007)
Balance at the beginning (in shares) at Dec. 31, 2022		500,161
Balance at the beginning at Dec. 31, 2022	787,848	$ 5,002	2,505,694	(1,485,841)	(237,007)
Increase (Decrease) in Shareholders' Equity
Equity-based compensation	10,093		10,093
Restricted stock units (in shares)		3,691
Restricted stock units	0	$ 37	(37)
Tax withholdings on restricted stock units	(11,810)		(11,810)
Net income	83,309			83,309
Balance at the end (in shares) at Mar. 31, 2023		503,852
Balance at the end at Mar. 31, 2023	869,440	$ 5,039	2,503,940	(1,402,532)	(237,007)
Balance at the beginning (in shares) at Dec. 31, 2022		500,161
Balance at the beginning at Dec. 31, 2022	787,848	$ 5,002	2,505,694	(1,485,841)	(237,007)
Increase (Decrease) in Shareholders' Equity
Net income	106,654
Balance at the end (in shares) at Jun. 30, 2023		504,345
Balance at the end at Jun. 30, 2023	903,904	$ 5,043	2,515,055	(1,379,187)	(237,007)
Balance at the beginning (in shares) at Mar. 31, 2023		503,852
Balance at the beginning at Mar. 31, 2023	869,440	$ 5,039	2,503,940	(1,402,532)	(237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	(1)		(1)
Equity-based compensation	11,121		11,121
Restricted stock units (in shares)		493
Restricted stock units	0	$ 4	(4)
Tax withholdings on restricted stock units	(1)		(1)
Net income	23,345			23,345
Balance at the end (in shares) at Jun. 30, 2023		504,345
Balance at the end at Jun. 30, 2023	$ 903,904	$ 5,043	$ 2,515,055	$ (1,379,187)	$ (237,007)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2

+ Details

Business Segment Information - Consolidated Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting [Abstract]
Oil and gas assets			$ 416,867	$ 320,787
Acquisition of oil and gas properties			0	21,205
Proceeds on sale of assets			0	(118,693)
Changes in capital accruals			1,290	7,061
Exploration expense, excluding unsuccessful well costs and leasehold impairments			21,702	27,779
Capitalized interest			(63,891)	(35,326)
Other			110	7,798
Consolidated capital expenditures, net	$ 169,645	$ 248,291	$ 376,078	$ 230,611

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

Property and equipment is stated at cost and consisted of the following:


	June 30, 2023		December 31, 2022
	(In thousands)
Oil and gas properties:
Proved properties	$	7,358,007	$	6,953,435
Unproved properties	356,288		341,334
Total oil and gas properties	7,714,295		7,294,769
Accumulated depletion	(3,640,896)		(3,457,332)
Oil and gas properties, net	4,073,399		3,837,437

Other property	61,478		60,730
Accumulated depreciation	(57,056)		(55,520)
Other property, net	4,422		5,210

Property and equipment, net	$	4,077,821	$	3,842,647

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Aug. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-35167
Entity Registrant Name	Kosmos Energy Ltd.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0686001
Entity Address, Address Line One	8176 Park Lane
Entity Address, City or Town	Dallas,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75231
Title of 12(b) Security	Common Stock $0.01 par value
Trading Symbol	KOS
Security Exchange Name	NYSE
Country Region	+1
City Area Code	214
Local Phone Number	445 9600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		460,109,397
Entity Central Index Key	0001509991
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Deferred financing costs, accumulated amortization	$ 14,423	$ 13,263
Preference shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preference shares, authorized shares (in shares)	200,000,000	200,000,000
Preference shares, issued shares (in shares)	0	0
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, authorized shares (in shares)	2,000,000,000	2,000,000,000
Common shares, issued shares (in shares)	504,344,893	500,161,421
Treasury stock shares (in shares)	44,263,269	44,263,269

Additional Financial Information (Tables)

6 Months Ended

Jun. 30, 2023

Additional Financial Information

Schedule of accrued liabilities

Accrued liabilities consisted of the following:


	June 30, 2023		December 31, 2022
	(In thousands)
Accrued liabilities:
Exploration, development and production	$	66,331	$	80,598
Revenue payable	20,676		26,087
Current asset retirement obligations	9,504		1,732
General and administrative expenses	18,028		32,069
Interest	40,951		44,740
Income taxes	77,199		127,183
Taxes other than income	1,510		1,524
Derivatives	1,242		6,440
Other	8,439		4,833
	$	243,880	$	325,206

Schedule of changes in asset retirement obligations

The following table summarizes the changes in the Company's asset retirement obligations as of and during the six months ended June 30, 2023:


	June 30, 2023
	(In thousands)
Asset retirement obligations:
Beginning asset retirement obligations	$	302,534
Liabilities incurred during period	6,580
Liabilities settled during period	(3,342)
Revisions in estimated retirement obligations	88
Accretion expense	14,186
Ending asset retirement obligations	$	320,046

Schedule of other expenses, net incurred

Other expenses, net incurred during the period is comprised of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Loss on disposal of inventory	$	2,704	$	68	$	2,939	$	285
Loss on asset retirement obligations liability settlements	—		238		115		620
Restructuring charges	—		(9)		—		(4)
Other, net	2,075		(3,825)		3,755		(2,003)
Other expenses, net	$	4,779	$	(3,528)	$	6,809	$	(1,102)

Debt - GoM Term Loan (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
Debt - GoM Term Loan (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Current maturities of long-term debt		$ 15,000	$ 30,000
Outstanding debt principal		$ 2,412,500	2,270,000
GoM Term Loan \| Secured Debt
Debt Instrument [Line Items]
Debt term (in years)	5 years
Debt, face amount	$ 200,000
Net proceeds from issuance of secured debt	197,700
Additional incremental commitments	$ 100,000
Applicable margin (as a percent)		5.90%
Current maturities of long-term debt		$ 15,000
Outstanding debt principal		$ 137,500	$ 145,000
GoM Term Loan \| Secured Debt \| Federal Funds Rate
Debt Instrument [Line Items]
Applicable margin (as a percent)		0.35%

Derivative Financial Instruments - Location of Gain (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative instruments, Location of Gain/(Loss)
Amount of Gain/(Loss)	$ (2,118)	$ (76,568)	$ 220	$ (367,374)
Provisional oil sales \| Oil and gas revenue
Derivative instruments, Location of Gain/(Loss)
Amount of Gain/(Loss)	913	(1,364)	(3,589)	(9,998)
Commodity \| Derivatives, net
Derivative instruments, Location of Gain/(Loss)
Amount of Gain/(Loss)	$ (3,031)	$ (75,204)	$ 3,809	$ (357,376)

Equity-based Compensation

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Equity-based Compensation

Restricted Stock Units

We record equity-based compensation expense equal to the fair value of share-based payments over the vesting periods of the LTIP awards. We recorded compensation expense from awards granted under our LTIP of $11.1 million and $8.7 million during the three months ended June 30, 2023 and 2022, respectively, and $21.2 million and $17.1 million during the six months ended June 30, 2023 and 2022, respectively. The total tax benefit for the three months ended June 30, 2023 and 2022 was $1.9 million and $1.5 million, respectively, and $3.7 million and $2.9 million during the six months ended June 30, 2023 and 2022, respectively. Additionally, we recorded a net tax shortfall (windfall) related to equity-based compensation of $(0.5) million and $(0.5) million for the three months ended June 30, 2023 and 2022, respectively, and $(3.1) million and $0.7 million during the six months ended June 30, 2023 and 2022, respectively. The fair value of awards vested during the three months ended June 30, 2023 and 2022 was $3.8 million and $4.0 million, respectively, and $44.8 million and $21.3 million during the six months ended June 30, 2023 and 2022, respectively. The Company granted restricted stock units with service vesting criteria and a combination of market and service vesting criteria under the LTIP. Substantially all of these grants vest over three years. Upon vesting, restricted stock units become issued and outstanding stock.

In June 2023, the Company’s stockholders approved the Amended and Restated Kosmos Energy Ltd. Long Term Incentive Plan, which authorized an additional 17.0 million shares of common stock available for issuance under the LTIP.

The following table reflects the outstanding restricted stock units as of June 30, 2023:


		Weighted-		Market / Service	Weighted-
	Service Vesting	Average		Vesting	Average
	Restricted Stock	Grant-Date		Restricted Stock	Grant-Date
	Units	Fair Value		Units	Fair Value
	(In thousands)			(In thousands)
Outstanding at December 31, 2022	4,916	$	4.18	12,041	$	5.61
Granted(1)	2,687	7.60		3,415	12.25
Forfeited(1)	(151)	5.46		(64)	8.47
Vested	(2,728)	3.86		(2,949)	8.22
Outstanding at June 30, 2023	4,724	5.70		12,443	6.57

__________________________________

As of June 30, 2023, total equity-based compensation to be recognized on unvested restricted stock units is $49.7 million over a weighted average period of 1.92 years. At June 30, 2023, the Company had approximately 18.5 million shares that remain available for issuance under the LTIP.

For restricted stock units with a combination of market and service vesting criteria, the number of common shares to be issued is determined by comparing the Company’s total shareholder return with the total shareholder return of a predetermined group of peer companies over the performance period and can vest in up to 200% of the awards granted. The grant date fair value ranged from $1.06 to $12.33 per award. The Monte Carlo simulation model utilized multiple input variables that determined the probability of satisfying the market condition stipulated in the award grant and calculated the fair value of the award. The expected volatility utilized in the model was estimated using our historical volatility and the historical volatilities of our peer companies and ranged from 50.0% to 105.0%. The risk-free interest rate was based on the U.S. treasury rate for a term commensurate with the expected life of the grant and ranged from 0.2% to 3.7%.