2018 Q4 Form 10-K Financial Statement

#000150999119000063 Filed on March 01, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 2017 Q4
Revenue $301.4M $886.7M $187.1M
YoY Change 61.09% 53.37% -11.29%
Cost Of Revenue $73.10M $224.7M $46.20M
YoY Change 58.23% 77.07% 5.72%
Gross Profit $228.4M $661.9M $140.9M
YoY Change 62.1% 46.67% 25.36%
Gross Profit Margin 75.78% 74.65% 75.31%
Selling, General & Admin $34.50M $99.90M $17.70M
YoY Change 94.92% 46.27% -36.79%
% of Gross Profit 15.11% 15.09% 12.56%
Research & Development $54.60M $301.5M $53.40M
YoY Change 2.25% 39.52% -29.55%
% of Gross Profit 23.91% 45.55% 37.9%
Depreciation & Amortization $123.5M $339.2M $76.80M
YoY Change 60.81% 27.81% -0.13%
% of Gross Profit 54.07% 51.25% 54.51%
Operating Expenses $197.2M $730.6M $137.9M
YoY Change 43.0% 33.66% -29.46%
Operating Profit $31.20M -$68.70M $3.000M
YoY Change 940.0% -27.91% -103.61%
Interest Expense $247.9M $6.300M -$124.5M
YoY Change -299.12% -104.46% 327.84%
% of Operating Profit 794.55% -4150.0%
Other Income/Expense, Net $8.100M $6.501M $0.00
YoY Change -222.87% -100.0%
Pretax Income $287.0M -$50.86M -$121.5M
YoY Change -336.21% -71.4% 111.67%
Income Tax $101.5M $43.13M -$16.20M
% Of Pretax Income 35.37%
Net Earnings $185.6M -$93.99M -$122.1M
YoY Change -252.0% -57.81% 115.31%
Net Earnings / Revenue 61.57% -10.6% -65.25%
Basic Earnings Per Share $0.44 -$0.23 -$0.31
Diluted Earnings Per Share $0.43 -$0.23 -$0.31
COMMON SHARES
Basic Shares Outstanding 433.6M shares 404.6M shares 389.4M shares
Diluted Shares Outstanding 404.6M shares

Balance Sheet

Concept 2018 Q4 2018 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $173.5M $173.5M $233.4M
YoY Change -25.66% -25.66% 20.25%
Cash & Equivalents $173.5M $173.5M $233.4M
Short-Term Investments
Other Short-Term Assets $111.3M $111.3M $67.40M
YoY Change 65.13% 65.13% 6.31%
Inventory $84.83M $84.80M $71.86M
Prepaid Expenses
Receivables $48.16M $112.7M $0.00
Other Receivables $21.69M $27.30M $25.62M
Total Short-Term Assets $509.7M $509.7M $533.6M
YoY Change -4.48% -4.48% 12.29%
LONG-TERM ASSETS
Property, Plant & Equipment $3.460B $3.460B $2.318B
YoY Change 49.26% 49.27% -14.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $51.90M $66.20M $236.5M
YoY Change -78.06% -72.02%
Other Assets $52.60M $52.60M $104.6M
YoY Change -49.71% -49.71% -31.9%
Total Long-Term Assets $3.578B $3.579B $2.659B
YoY Change 34.58% 34.58% -7.23%
TOTAL ASSETS
Total Short-Term Assets $509.7M $509.7M $533.6M
Total Long-Term Assets $3.578B $3.579B $2.659B
Total Assets $4.088B $4.088B $3.193B
YoY Change 28.05% 28.05% -4.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $176.5M $176.5M $141.8M
YoY Change 24.51% 24.47% -35.73%
Accrued Expenses $195.6M $186.2M $219.4M
YoY Change -10.85% -7.82% 69.16%
Deferred Revenue $24.38M $0.00
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $384.3M $384.3M $428.7M
YoY Change -10.36% -10.36% 15.87%
LONG-TERM LIABILITIES
Long-Term Debt $2.121B $2.121B $1.283B
YoY Change 65.31% 65.3% -2.96%
Other Long-Term Liabilities $9.160M $164.7M $10.61M
YoY Change -13.68% 53.35% 25.6%
Total Long-Term Liabilities $2.762B $2.285B $1.867B
YoY Change 47.98% 64.38% -1.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $384.3M $384.3M $428.7M
Total Long-Term Liabilities $2.762B $2.285B $1.867B
Total Liabilities $3.147B $3.147B $2.295B
YoY Change 37.08% 37.08% 1.56%
SHAREHOLDERS EQUITY
Retained Earnings -$1.167B -$1.073B
YoY Change 8.76% 26.2%
Common Stock $2.346B $2.019B
YoY Change 16.21% 1.99%
Preferred Stock
YoY Change
Treasury Stock (at cost) $237.0M $48.20M
YoY Change 391.75% 1.26%
Treasury Stock Shares 44.26M shares 9.189M shares
Shareholders Equity $941.5M $941.5M $897.1M
YoY Change
Total Liabilities & Shareholders Equity $4.088B $4.088B $3.193B
YoY Change 28.05% 28.05% -4.45%

Cashflow Statement

Concept 2018 Q4 2018 2017 Q4
OPERATING ACTIVITIES
Net Income $185.6M -$93.99M -$122.1M
YoY Change -252.0% -57.81% 115.31%
Depreciation, Depletion And Amortization $123.5M $339.2M $76.80M
YoY Change 60.81% 27.81% -0.13%
Cash From Operating Activities $170.3M $260.5M $142.2M
YoY Change 19.76% 10.09% 20.82%
INVESTING ACTIVITIES
Capital Expenditures -$68.90M $385.4M -$41.00M
YoY Change 68.05% 571.11% 33.55%
Acquisitions
YoY Change
Other Investing Activities $42.10M $198.4M -$231.3M
YoY Change -118.2% -2256.52%
Cash From Investing Activities -$26.80M -$985.1M -$272.3M
YoY Change -90.16% 545.72% 784.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $206.1M
YoY Change 9291.57%
Debt Paid & Issued, Net $325.0M
YoY Change 30.0%
Cash From Financing Activities -165.3M $605.3M 199.8M
YoY Change -182.73% -1258.18% -199900.0%
NET CHANGE
Cash From Operating Activities 170.3M $260.5M 142.2M
Cash From Investing Activities -26.80M -$985.1M -272.3M
Cash From Financing Activities -165.3M $605.3M 199.8M
Net Change In Cash -21.80M -$119.4M 69.70M
YoY Change -131.28% -475.48% -19.7%
FREE CASH FLOW
Cash From Operating Activities $170.3M $260.5M $142.2M
Capital Expenditures -$68.90M $385.4M -$41.00M
Free Cash Flow $239.2M -$124.9M $183.2M
YoY Change 30.57% -169.73% 23.45%

Facts In Submission

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CY2016 us-gaap Capitalized Exploratory Well Cost Additions Pending Determination Of Proved Reserves
CapitalizedExploratoryWellCostAdditionsPendingDeterminationOfProvedReserves
307582000 USD
CY2017 us-gaap Capitalized Exploratory Well Cost Additions Pending Determination Of Proved Reserves
CapitalizedExploratoryWellCostAdditionsPendingDeterminationOfProvedReserves
69567000 USD
CY2018 us-gaap Capitalized Exploratory Well Cost Additions Pending Determination Of Proved Reserves
CapitalizedExploratoryWellCostAdditionsPendingDeterminationOfProvedReserves
10518000 USD
CY2016 us-gaap Capitalized Exploratory Well Cost Charged To Expense1
CapitalizedExploratoryWellCostChargedToExpense1
0 USD
CY2017 us-gaap Capitalized Exploratory Well Cost Charged To Expense1
CapitalizedExploratoryWellCostChargedToExpense1
0 USD
CY2018 us-gaap Capitalized Exploratory Well Cost Charged To Expense1
CapitalizedExploratoryWellCostChargedToExpense1
52966000 USD
CY2015Q4 us-gaap Capitalized Exploratory Well Costs
CapitalizedExploratoryWellCosts
426881000 USD
CY2016Q4 us-gaap Capitalized Exploratory Well Costs
CapitalizedExploratoryWellCosts
734463000 USD
CY2017Q4 us-gaap Capitalized Exploratory Well Costs
CapitalizedExploratoryWellCosts
410113000 USD
CY2018Q4 us-gaap Capitalized Exploratory Well Costs
CapitalizedExploratoryWellCosts
367665000 USD
CY2016Q4 us-gaap Capitalized Exploratory Well Costs That Have Been Capitalized For Period Of One Year Or Less
CapitalizedExploratoryWellCostsThatHaveBeenCapitalizedForPeriodOfOneYearOrLess
279809000 USD
CY2017Q4 us-gaap Capitalized Exploratory Well Costs That Have Been Capitalized For Period Of One Year Or Less
CapitalizedExploratoryWellCostsThatHaveBeenCapitalizedForPeriodOfOneYearOrLess
67159000 USD
CY2018Q4 us-gaap Capitalized Exploratory Well Costs That Have Been Capitalized For Period Of One Year Or Less
CapitalizedExploratoryWellCostsThatHaveBeenCapitalizedForPeriodOfOneYearOrLess
0 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
194057000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
233412000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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173515000 USD
CY2015Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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310862000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
273195000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
304986000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
185616000 USD
CY2016 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-37667000 USD
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
31791000 USD
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-119370000 USD
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Common Stock Shares Authorized
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2000000000 shares
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2000000000 shares
CY2017Q4 us-gaap Common Stock Shares Issued
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398599457 shares
CY2017Q4 us-gaap Common Stock Value
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3986000 USD
CY2018Q4 us-gaap Common Stock Value
CommonStockValue
4429000 USD
CY2017Q4 us-gaap Contract With Customer Liability Current
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0 USD
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
24379000 USD
CY2016 us-gaap Costs And Expenses
CostsAndExpenses
679919000 USD
CY2017Q1 us-gaap Costs And Expenses
CostsAndExpenses
158630000 USD
CY2017Q2 us-gaap Costs And Expenses
CostsAndExpenses
131252000 USD
CY2017Q3 us-gaap Costs And Expenses
CostsAndExpenses
216162000 USD
CY2017Q4 us-gaap Costs And Expenses
CostsAndExpenses
308647000 USD
CY2017 us-gaap Costs And Expenses
CostsAndExpenses
814691000 USD
CY2018Q1 us-gaap Costs And Expenses
CostsAndExpenses
201751000 USD
CY2018Q2 us-gaap Costs And Expenses
CostsAndExpenses
364091000 USD
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477179000 USD
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DeferredTaxAssetsDerivativeInstruments
33963000 USD
CY2018Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
0 USD
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
173055000 USD
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
257053000 USD
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DeferredTaxAssetsNet
79530000 USD
CY2018Q4 us-gaap Deferred Tax Assets Net
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100193000 USD
CY2018Q3 us-gaap Costs And Expenses
CostsAndExpenses
364912000 USD
CY2018Q4 us-gaap Costs And Expenses
CostsAndExpenses
22475000 USD
CY2018 us-gaap Costs And Expenses
CostsAndExpenses
953229000 USD
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196201000 USD
CY2017 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
172849000 USD
CY2018 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
178293000 USD
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
12777000 USD
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
35432000 USD
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
33986000 USD
CY2017Q4 us-gaap Debt Instrument Carrying Amount
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1325000000 USD
CY2018Q4 us-gaap Debt Instrument Carrying Amount
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2175000000 USD
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2510000 USD
CY2018Q4 us-gaap Deferred Finance Costs Noncurrent Net
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8937000 USD
CY2017Q4 us-gaap Deferred Income Tax Assets Net
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22517000 USD
CY2018Q4 us-gaap Deferred Income Tax Assets Net
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14004000 USD
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DeferredIncomeTaxExpenseBenefit
-23561000 USD
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
9505000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
9145000 USD
CY2017Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
533561000 USD
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
563368000 USD
CY2017Q4 us-gaap Deferred Income Tax Liabilities Net
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476548000 USD
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
0 USD
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
59336000 USD
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DeferredTaxAssetsOperatingLossCarryforwardsForeign
25307000 USD
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
28050000 USD
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration
84700000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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20783000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
11408000 USD
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
156860000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities
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454031000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
463175000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Derivatives
DeferredTaxLiabilitiesDerivatives
0 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Derivatives
DeferredTaxLiabilitiesDerivatives
15979000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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533561000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
547389000 USD
CY2016 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
131500000 USD
CY2017 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
244900000 USD
CY2018 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
316300000 USD
CY2016 us-gaap Depreciation
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3500000 USD
CY2017Q4 us-gaap Derivative Assets Noncurrent
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39000 USD
CY2017 us-gaap Depreciation
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3400000 USD
CY2017Q4 us-gaap Derivative Assets Current
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1682000 USD
CY2018Q4 us-gaap Derivative Assets Current
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38785000 USD
CY2018 us-gaap Depreciation
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4600000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
150608000 USD
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
265407000 USD
CY2018 us-gaap Depreciation Depletion And Amortization
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339214000 USD
CY2018Q1 us-gaap Earnings Per Share Diluted
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-0.13
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-0.31
CY2018Q4 us-gaap Derivative Assets Noncurrent
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DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-46559000 USD
CY2017 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-71822000 USD
CY2018 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
29960000 USD
CY2017Q4 us-gaap Derivative Liabilities Current
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67531000 USD
CY2018Q4 us-gaap Derivative Liabilities Current
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12172000 USD
CY2017Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
30209000 USD
CY2018Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
10181000 USD
CY2017Q4 us-gaap Due From Related Parties Current
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780000 USD
CY2018Q4 us-gaap Due From Related Parties Current
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5580000 USD
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2017Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
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-0.31
CY2018Q4 us-gaap Earnings Per Share Basic
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0.44
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
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-0.74
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
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EarningsPerShareDiluted
-0.02
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EarningsPerShareDiluted
-0.16
CY2017Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.57
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.04
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.25
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.85
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2016 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
5504000 USD
CY2017 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
3086000 USD
CY2018 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-387000 USD
CY2017Q4 us-gaap Energy Related Inventory Petroleum
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8400000 USD
CY2018Q4 us-gaap Energy Related Inventory Petroleum
EnergyRelatedInventoryPetroleum
1400000 USD
CY2017Q4 us-gaap Equity Method Investments
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236514000 USD
CY2018Q4 us-gaap Equity Method Investments
EquityMethodInvestments
51896000 USD
CY2016 us-gaap Exploration Expense
ExplorationExpense
202280000 USD
CY2017 us-gaap Exploration Expense
ExplorationExpense
216050000 USD
CY2018 us-gaap Exploration Expense
ExplorationExpense
301492000 USD
CY2018 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
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15305000 USD
CY2016 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
0 USD
CY2017 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
0 USD
CY2018 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
7666000 USD
CY2016 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-4324000 USD
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
87623000 USD
CY2017 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
68302000 USD
CY2018 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
99856000 USD
CY2018 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-294564000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-177855000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-50860000 USD
CY2016 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6252000 USD
CY2018 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
72881000 USD
CY2016 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
0 USD
CY2017 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-6252000 USD
CY2018 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
45000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10784000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
44937000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
43131000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
29263000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
6008000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
63335000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
16721000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2016 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
0 USD
CY2017 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
0 USD
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-57898000 USD
CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
9381000 USD
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
5013000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
0 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
0 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-10681000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
556000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
3790000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
656000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Life Insurance
IncomeTaxReconciliationNondeductibleExpenseLifeInsurance
8694000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Life Insurance
IncomeTaxReconciliationNondeductibleExpenseLifeInsurance
-30000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Life Insurance
IncomeTaxReconciliationNondeductibleExpenseLifeInsurance
3256000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1999000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1680000 USD
CY2016 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
0 USD
CY2017 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
2565000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
2643000 USD
CY2016 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
59803000 USD
CY2017 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
30282000 USD
CY2018 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-8848000 USD
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-17557000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
31710000 USD
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
18731000 USD
CY2016 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
20558000 USD
CY2017 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-29365000 USD
CY2018 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-175954000 USD
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2018 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
-2565000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Holidays
IncomeTaxReconciliationTaxHolidays
121400000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Holidays
IncomeTaxReconciliationTaxHolidays
164400000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Holidays
IncomeTaxReconciliationTaxHolidays
261200000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
13997000 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
48815000 USD
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
45984000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-75487000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-94434000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7440000 USD
CY2016 us-gaap Increase Decrease In Accrued Liabilities
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-3567000 USD
CY2017 us-gaap Increase Decrease In Accrued Liabilities
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86595000 USD
CY2018 us-gaap Increase Decrease In Accrued Liabilities
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-157393000 USD
CY2016 us-gaap Increase Decrease In Inventories
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4107000 USD
CY2017 us-gaap Increase Decrease In Inventories
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-1653000 USD
CY2018 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
28331000 USD
CY2016 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
59803000 USD
CY2017 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
30282000 USD
CY2018 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
28331000 USD
CY2016 us-gaap Interest Costs Incurred
InterestCostsIncurred
89029000 USD
CY2017 us-gaap Interest Costs Incurred
InterestCostsIncurred
92687000 USD
CY2018 us-gaap Interest Costs Incurred
InterestCostsIncurred
114134000 USD
CY2016 us-gaap Interest Paid Net
InterestPaidNet
27860000 USD
CY2017 us-gaap Interest Paid Net
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentration of Credit Risk</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our revenue can be materially affected by current economic conditions and the price of oil. However, based on the current demand for crude oil and the fact that alternative purchasers are readily available, we believe that the loss of our marketing agent and/or any of the purchasers identified by our marketing agent would not have a long&#8209;term material adverse effect on our financial position or results of international operations. For our U.S. Gulf of Mexico operations, crude oil and natural gas are transported to customers using third-party pipelines.</font></div></div>
CY2018 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Kosmos Energy Ltd. changed its jurisdiction of incorporation from Bermuda to the State of Delaware (the "Redomestication") in December 2018. All outstanding common shares of Kosmos Energy Ltd., an exempted company incorporated pursuant to the laws of Bermuda, were automatically converted by operation of law, on a one-for-one basis, into shares of common stock of Kosmos Energy Ltd., a company incorporated pursuant to the laws of Delaware. The number of shares of the Company&#8217;s common stock outstanding immediately after the Redomestication was the same as the number of common shares of Kosmos Energy Ltd. outstanding immediately prior to the Redomestication. Kosmos Energy Ltd. was originally incorporated pursuant to the laws of Bermuda in January 2011 to become a holding company for Kosmos Energy Holdings. As part of the Redomestication, we transferred all of our equity interests in Kosmos Energy Holdings to a new, wholly-owned subsidiary, Kosmos Energy Delaware Holdings, LLC, a Delaware limited liability company. 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 refer to Kosmos Energy Ltd. and its wholly-owned subsidiaries, unless the context indicates otherwise.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. We also maintain a sustainable exploration program balanced between proven basin infrastructure-led exploration (Equatorial Guinea and U.S. Gulf of Mexico), emerging basins (Mauritania, Senegal and Suriname) and frontier basins (Cote d'Ivoire, Namibia and Sao Tome and Principe). </font><font style="font-family:inherit;font-size:10pt;">Kosmos is listed on the New York Stock Exchange (&#8220;NYSE&#8221;) and London Stock Exchange ("LSE") and is traded under the ticker symbol KOS.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Kosmos is engaged in a single line of business, which is the exploration and production of oil and natural gas. We have operations in </font><font style="font-family:inherit;font-size:10pt;">four</font><font style="font-family:inherit;font-size:10pt;"> geographic areas: Ghana, Equatorial Guinea, Mauritania/Senegal and the United States of America.</font></div></div>
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform with the current year presentation. Such reclassifications had no material impact on our reported net income (loss), current assets, total assets, current liabilities, total liabilities, shareholders&#8217; equity or cash flows, except as disclosed related to the adoption of recent accounting pronouncements.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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></div></div>

Files In Submission

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