$KOS
Kosmos Energy Ltd.

2012 Q3 Form 10-Q Financial Statement

#000110465912074028 Filed on November 05, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $223.2M $232.8M
YoY Change -4.13% 11612.53%
Cost Of Revenue $44.90M $24.20M
YoY Change 85.54%
Gross Profit $177.5M $206.1M
YoY Change -13.88%
Gross Profit Margin 79.51% 88.51%
Selling, General & Admin $39.90M $39.10M
YoY Change 2.05% 40.65%
% of Gross Profit 22.48% 18.97%
Research & Development $38.10M $11.00M
YoY Change 246.36% -42.11%
% of Gross Profit 21.46% 5.34%
Depreciation & Amortization $66.00M $42.59M
YoY Change 54.96% 7269.03%
% of Gross Profit 37.18% 20.67%
Operating Expenses $141.7M $94.80M
YoY Change 49.47% 72.05%
Operating Profit $35.80M $111.3M
YoY Change -67.83% -302.0%
Interest Expense $20.21M $16.58M
YoY Change 21.9% -13.4%
% of Operating Profit 56.46% 14.9%
Other Income/Expense, Net $64.00K $79.00K
YoY Change -18.99% -354.84%
Pretax Income -$10.33M $102.3M
YoY Change -110.1% -223.87%
Income Tax $25.92M $50.48M
% Of Pretax Income 49.37%
Net Earnings -$36.25M $51.78M
YoY Change -170.01% -162.72%
Net Earnings / Revenue -16.24% 22.24%
Basic Earnings Per Share -$0.10 $0.13
Diluted Earnings Per Share -$0.10 $0.13
COMMON SHARES
Basic Shares Outstanding 373.4M shares 369.0M shares
Diluted Shares Outstanding 373.4M shares 369.3M shares

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $399.7M $656.4M
YoY Change -39.11%
Cash & Equivalents $399.7M $656.4M
Short-Term Investments
Other Short-Term Assets $82.40M $88.80M
YoY Change -7.21%
Inventory $37.99M $33.01M
Prepaid Expenses
Receivables $106.6M $204.5M
Other Receivables $1.560M $4.734M
Total Short-Term Assets $742.1M $1.097B
YoY Change -32.35%
LONG-TERM ASSETS
Property, Plant & Equipment $1.490B $1.131B
YoY Change 31.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.70M $62.80M
YoY Change 38.06%
Total Long-Term Assets $1.577B $1.194B
YoY Change 32.1%
TOTAL ASSETS
Total Short-Term Assets $742.1M $1.097B
Total Long-Term Assets $1.577B $1.194B
Total Assets $2.319B $2.291B
YoY Change 1.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $128.2M $197.2M
YoY Change -34.98%
Accrued Expenses $64.69M $41.41M
YoY Change 56.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $217.6M $268.7M
YoY Change -18.99%
LONG-TERM LIABILITIES
Long-Term Debt $1.000B $1.000B
YoY Change 0.0%
Other Long-Term Liabilities $12.51M $15.66M
YoY Change -20.14%
Total Long-Term Liabilities $1.129B $1.057B
YoY Change 6.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $217.6M $268.7M
Total Long-Term Liabilities $1.129B $1.057B
Total Liabilities $1.347B $1.326B
YoY Change 1.57%
SHAREHOLDERS EQUITY
Retained Earnings -$714.8M -$650.5M
YoY Change 9.89%
Common Stock $1.692B $1.612B
YoY Change 4.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.394M $6.000K
YoY Change 139800.0%
Treasury Stock Shares 2.454M shares 646.2K shares
Shareholders Equity $972.2M $964.7M
YoY Change
Total Liabilities & Shareholders Equity $2.319B $2.291B
YoY Change 1.24%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income -$36.25M $51.78M
YoY Change -170.01% -162.72%
Depreciation, Depletion And Amortization $66.00M $42.59M
YoY Change 54.96% 7269.03%
Cash From Operating Activities -$10.60M $212.6M
YoY Change -104.99% -856.58%
INVESTING ACTIVITIES
Capital Expenditures -$86.70M -$76.40M
YoY Change 13.48% -29.91%
Acquisitions
YoY Change
Other Investing Activities -$23.90M $1.900M
YoY Change -1357.89% -95.45%
Cash From Investing Activities -$110.6M -$74.50M
YoY Change 48.46% 10.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -109.2M -300.0M
YoY Change -63.6% -320.59%
NET CHANGE
Cash From Operating Activities -10.60M 212.6M
Cash From Investing Activities -110.6M -74.50M
Cash From Financing Activities -109.2M -300.0M
Net Change In Cash -230.4M -161.9M
YoY Change 42.31% -497.79%
FREE CASH FLOW
Cash From Operating Activities -$10.60M $212.6M
Capital Expenditures -$86.70M -$76.40M
Free Cash Flow $76.10M $289.0M
YoY Change -73.67% 257.23%

Facts In Submission

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295000 USD
us-gaap Treasury Stock Value Acquired Cost Method
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8378000 USD
us-gaap Depreciation Depletion And Amortization
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us-gaap Results Of Operations Dry Hole Costs
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us-gaap Share Based Compensation
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us-gaap Other Noncash Income Expense
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
102959000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Results Of Operations Dry Hole Costs
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us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Increase Decrease In Inventories
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Increase Decrease In Receivables
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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267146000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
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us-gaap Increase Decrease In Restricted Cash
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us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
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us-gaap Payments To Acquire Other Property Plant And Equipment
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us-gaap Payments For Proceeds From Investments
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1393000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1438000000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
580374000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
52466000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
482908000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
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us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
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us-gaap Interest Paid
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30247000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
16620000 USD
us-gaap Interest Paid
InterestPaid
36854000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
850000 USD
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
100415000 USD
CY2011Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Nature Of Operations
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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1. Organization</font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Kosmos Energy Ltd. was incorporated pursuant to the laws of Bermuda in January&#160;2011 to become a holding company for Kosmos Energy Holdings. Kosmos Energy Holdings is a privately held Cayman Islands company that was formed March&#160;5, 2004. As a holding company, Kosmos Energy Ltd.&#8217;s management operations are conducted through a wholly owned subsidiary, Kosmos Energy, LLC. The terms &#8220;Kosmos,&#8221; the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; &#8220;ours,&#8221; and similar terms when used in the present tense or prospectively or for historical periods since May&#160;16, 2011 refer to Kosmos Energy Ltd. and its wholly owned subsidiaries and for historical periods prior to May&#160;16, 2011 refer to Kosmos Energy Holdings and its wholly owned subsidiaries, unless the context indicates otherwise.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">We are an independent oil and gas exploration and production company currently focused on frontier and emerging areas in Africa and South America. Our asset portfolio includes existing production, discoveries and exploration prospects offshore Ghana, as well as petroleum contracts offshore Mauritania, Morocco and Suriname and onshore Cameroon. Kosmos Energy Ltd. transitioned from its development stage to operational activities in January&#160;2011. Accordingly, reporting as a development stage company is no longer deemed necessary.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">In May&#160;2012, Kosmos entered into an agreement with Chevron Global Energy Inc. (&#8220;Chevron&#8221;) under which Kosmos will assign half of its interest in Block 42 and Block 45, offshore Suriname, to Chevron. Upon receipt of approval from the Suriname government and the closing of the agreement, each party will have a 50% working interest in Block 42 and Block 45.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">We have one business segment, which is the exploration and production of oil and natural gas. Substantially all of our long-lived assets and product sales are related to production located offshore Ghana.</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Use of Estimates</font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities. Actual results could differ from these estimates.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
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CY2012Q3 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
32800000 USD
CY2011Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
26900000 USD
CY2012Q3 us-gaap Energy Related Inventory Petroleum
EnergyRelatedInventoryPetroleum
5200000 USD
CY2011Q4 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
1502887000 USD
CY2012Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
61900000 USD
CY2011Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
41300000 USD
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
123300000 USD
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
85400000 USD
CY2012Q3 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
1737394000 USD
CY2011Q4 us-gaap Energy Related Inventory Petroleum
EnergyRelatedInventoryPetroleum
200000 USD
CY2012Q3 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
696047000 USD
CY2011Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
607338000 USD
CY2012Q3 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
429552000 USD
CY2011Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
294701000 USD
CY2012Q3 us-gaap Capitalized Costs Support Equipment And Facilities
CapitalizedCostsSupportEquipmentAndFacilities
611795000 USD
CY2011Q4 us-gaap Capitalized Costs Support Equipment And Facilities
CapitalizedCostsSupportEquipmentAndFacilities
600848000 USD
kos Capitalized Exploratory Well Cost Expensed In Same Period
CapitalizedExploratoryWellCostExpensedInSamePeriod
16700000 USD
CY2011Q4 us-gaap Capitalized Exploratory Well Costs
CapitalizedExploratoryWellCosts
267592000 USD
us-gaap Capitalized Exploratory Well Cost Additions Pending Determination Of Proved Reserves
CapitalizedExploratoryWellCostAdditionsPendingDeterminationOfProvedReserves
104255000 USD
kos Capitalized Exploratory Well Cost Charged To Expense Excluding Costs Capitalized And Expensed In Same Period
CapitalizedExploratoryWellCostChargedToExpenseExcludingCostsCapitalizedAndExpensedInSamePeriod
2627000 USD
CY2012Q3 us-gaap Capitalized Exploratory Well Costs
CapitalizedExploratoryWellCosts
369220000 USD
CY2012Q3 us-gaap Capitalized Exploratory Well Costs That Have Been Capitalized For Period Of One Year Or Less
CapitalizedExploratoryWellCostsThatHaveBeenCapitalizedForPeriodOfOneYearOrLess
129389000 USD
CY2011Q4 us-gaap Capitalized Exploratory Well Costs That Have Been Capitalized For Period Of One Year Or Less
CapitalizedExploratoryWellCostsThatHaveBeenCapitalizedForPeriodOfOneYearOrLess
132838000 USD
CY2012Q3 us-gaap Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year
CapitalizedExploratoryWellCostsThatHaveBeenCapitalizedForPeriodGreaterThanOneYear
239831000 USD
CY2011Q4 us-gaap Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year
CapitalizedExploratoryWellCostsThatHaveBeenCapitalizedForPeriodGreaterThanOneYear
134754000 USD
CY2012Q3 us-gaap Projects That Have Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year
ProjectsThatHaveExploratoryWellCostsThatHaveBeenCapitalizedForPeriodGreaterThanOneYear
7 project
CY2011Q4 us-gaap Projects That Have Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year
ProjectsThatHaveExploratoryWellCostsThatHaveBeenCapitalizedForPeriodGreaterThanOneYear
3 project
CY2012Q3 kos Accrued Exploration Development And Production Costs Current
AccruedExplorationDevelopmentAndProductionCostsCurrent
40212000 USD
CY2011Q4 kos Accrued Exploration Development And Production Costs Current
AccruedExplorationDevelopmentAndProductionCostsCurrent
27666000 USD
CY2012Q3 kos Accrued General And Administrative Expenses Current
AccruedGeneralAndAdministrativeExpensesCurrent
11303000 USD
CY2011Q4 kos Accrued General And Administrative Expenses Current
AccruedGeneralAndAdministrativeExpensesCurrent
2159000 USD
CY2012Q3 us-gaap Interest Payable Current
InterestPayableCurrent
620000 USD
CY2011Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1208000 USD
CY2012Q3 kos Accrual For All Other Taxes Current
AccrualForAllOtherTaxesCurrent
11252000 USD
CY2011Q4 kos Accrual For All Other Taxes Current
AccrualForAllOtherTaxesCurrent
1095000 USD
CY2012Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1306000 USD
CY2011Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
5066000 USD
CY2011Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-59600000 USD
CY2012Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
444444000 USD
CY2012Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
555556000 USD
CY2011Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.49 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.91 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.33 pure
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
34500000 shares
CY2012Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
34500000 shares
CY2012Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-13966000 USD
CY2011Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
2383000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-13552000 USD
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
1300000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1992000 USD
CY2011Q2 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
277700000 shares
kos Voting Rights Per Common Share
VotingRightsPerCommonShare
1 vote
CY2012Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-2.51 pure
kos Stock Issued During Period Shares New Issues Over Allotment Option
StockIssuedDuringPeriodSharesNewIssuesOverAllotmentOption
1500000 shares
CY2012Q3 kos Stock Issued During Period Shares New Issues Over Allotment Option
StockIssuedDuringPeriodSharesNewIssuesOverAllotmentOption
1500000 shares
CY2011Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
2349000 USD
us-gaap Net Income Loss
NetIncomeLoss
-36408000 USD
CY2011Q3 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
3000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-98634000 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-36250000 USD
CY2011Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
49430000 USD
CY2011Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
345000 shares
CY2011Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5500000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17100000 shares
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17100000 shares
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Reclassifications</font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Certain prior period amounts have been reclassified to conform with the current year presentation. Such reclassifications had no impact on our reported net income, current assets, total assets, current liabilities, total liabilities or shareholders equity.</font></p></td></tr></table>
CY2012Q3 kos Underlift Asset In Oil And Gas
UnderliftAssetInOilAndGas
3900000 USD
CY2012Q3 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
3185000 USD
kos Cash Settlements On Derivatives
CashSettlementsOnDerivatives
18755000 USD
kos Cash Settlements On Derivatives
CashSettlementsOnDerivatives
4779000 USD
us-gaap Net Income Loss
NetIncomeLoss
-98634000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-36250000 USD
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
51776000 USD

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