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Capital Markets Event – Kosmos Energy

Kosmos Energy · Feb 25, 2020 · 82 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Capital Markets Event – Kosmos Energy – slide 1
    Capital Markets Event 25 February 2019 NYSE/LSE: KOS Capital Markets Presentation February 25, 2019 0 Strictly Private and Confidential
  2. Capital Markets Event – Kosmos Energy – slide 2
    THE KOSMOS TEAM Kosmos Management Team In Attendance Andy Inglis Tom Chambers Tracey Henderson Richard Clark Chief Executive Officer Chief Financial Officer Chief Exploration Officer SVP, Gulf of Mexico Chris Ball Mike…
  3. Capital Markets Event – Kosmos Energy – slide 3
    SCHEDULE Presentations commence: 14:00 Introduction Andy Inglis Production Optimization and Exploitation Andy Inglis Richard Clark Infrastructure-Led Exploration Tracey Henderson Q&A Break 15:15 15:45 Development of…
  4. Capital Markets Event – Kosmos Energy – slide 4
    INTRODUCTION Andy Inglis Strictly Private and Confidential
  5. Capital Markets Event – Kosmos Energy – slide 5
    CAPITAL MARKETS EVENT: KEY TAKEAWAYS Kosmos can fund 2019 Capex 8-10% production Resilient Business: its sustaining capex Reduction: CAGR 2018-2021 Low Cost and and dividends at maintained with From 500-600mm Cash Generative…
  6. Capital Markets Event – Kosmos Energy – slide 6
    WHAT MAKES KOSMOS UNIQUE Ability To Generate High Returns And Create Shareholder Value Through The Cycle Disciplined World Class Exploration Rapid Cycle Portfolio Capital Assets Excellence Development Optimization Management…
  7. Capital Markets Event – Kosmos Energy – slide 7
    WHAT DOES THE KOSMOS BUSINESS MODEL DELIVER Kosmos Has The Portfolio And Capability To Deliver On Its Objectives Strong Free Cash Flow Generation Returns Driven Growth Deep, Diverse Portfolio Rich in Opportunity Focus on…
  8. Capital Markets Event – Kosmos Energy – slide 8
    SAFE OPERATIONS UNDERPIN LICENSE TO OPERATE Safety First 2018 Highlights Total Recordable Incident Rate (TRIR)1 1.5 Largest operated activity set ever 1.0 6 wells drilled 25,000 km 3D seismic acquired (15% of global…
  9. Capital Markets Event – Kosmos Energy – slide 9
    GROWTH THROUGH ORGANIC AND INORGANIC ACTIVITY Tripled Production And 2P Reserves In Two Years No Shareholder Dilution 2016-18 Production And 2P Reserves1 Growth Net Production 2P Reserves 2016-18 CAGR: 2016-18 CAGR: 85% 90%…
  10. Capital Markets Event – Kosmos Energy – slide 10
    2019: AN ACTIVE YEAR FOR EXPLORATION Drilling In Mauritania, Equatorial Guinea And Gulf Of Mexico Net Exploration Acreage In W. Africa & NE South America2 120,000 In 2019, Kosmos expects to drill 100,000 6 wells 80,000 1…
  11. Capital Markets Event – Kosmos Energy – slide 11
    SUSTAINABLE GROWTH FROM A DEEP AND BALANCED PORTFOLIO Goal To Double Production 2018-2025 From Existing Portfolio Forecast Production Growth (mboepd)1,2 130 100 80 60 mboepd GoM 40 EG 20 Ghana 0 2016 2017…
  12. Capital Markets Event – Kosmos Energy – slide 12
    DISCIPLINED CAPITAL ALLOCATION 2019 Capital Expenditure Reduced By 20% 2019 Capital Expenditure: 425 475 million 600 Previous 2019 capex guidance 500 New 2019 guidance 400 GoM capex 500mm post acquisition 300 / year…
  13. Capital Markets Event – Kosmos Energy – slide 13
    DISCIPLINED CAPITAL ALLOCATION The 2019-2021 Capital Program Has Diversity And Built-In Flexibility Theme Geography Type Basin-Opening Other Basin-Opening Exploration Exploration Development of World- Mauritania / Senegal…
  14. Capital Markets Event – Kosmos Energy – slide 14
    DELIVERY OF FREE CASH FLOW 1 Billion Of Free Cash Flow Pre Dividends 2019-2021 At 60 Brent Strong Free Cash Flow1 500 Free Cash Flow 2019-21: 1 billion At 60/bbl Brent 400 300 (m) 200 100 - 2017 2018 2019E…
  15. Capital Markets Event – Kosmos Energy – slide 15
    BALANCE SHEET STRENGTH AND FINANCIAL FLEXIBILITY Commitment To Shareholder Returns And Balance Sheet Strength Reduce Debt And Enhance Liquidity 4.0x Net Debt / EBITDAX covenant < 3.5x 3.5x 3.0x 2.5x 2.0x 1.5x Target…
  16. Capital Markets Event – Kosmos Energy – slide 16
    FOCUS ON SHAREHOLDER RETURNS Commitment To Shareholder Returns And Balance Sheet Strength Shareholder Returns Balance Sheet Strength Dividend of 0.18 / share Target 1.0 1.5x for 2019 3.0% yield1 Net Debt / EBITDAX 2019-21 Use of…
  17. Capital Markets Event – Kosmos Energy – slide 17
    WE HAVE THE RIGHT PORTFOLIO AND CAPABILITY TO EXECUTE THE STRATEGY Sustainable Growth Across Our Short, Medium And Longer Cycle Business Units Growth From A Balanced Portfolio Gulf of Mexico Production Optimization & Exploitation…
  18. Capital Markets Event – Kosmos Energy – slide 18
    PRODUCTION OPTIMIZATION & EXPLOITATION Andy Inglis Strictly Private and Confidential
  19. Capital Markets Event – Kosmos Energy – slide 19
    PRODUCTION OPTIMIZATION & EXPLOITATION: KEY TAKEAWAYS Strong Production Base Underpins The Value Of Kosmos Today Growing Base Production 2018-2021E (mboepd)2 Growth From Existing Reserve Base 80 2018: 1P Organic RRR1 130% 60…
  20. Capital Markets Event – Kosmos Energy – slide 20
    GULF OF MEXICO OVERVIEW DGE: Highly Experienced Deepwater Gulf of Mexico Operator 20 Years Experience Operating In The Deepwater GoM: 900 mmboe discovered since 1994 Mariner DGE / Kosmos 1,000 900 800 95 Wells 35 Subsea…
  21. Capital Markets Event – Kosmos Energy – slide 21
    STRONG TRACK RECORD OF DELIVERING SUCCESS High Success Rate and Short Cycle Times Have Led to Repeatable Production and Reserves Growth Production Growth (mboepd) 2P Reserves Growth (mmboe) 25 100 2P F&D2 Cost Previous owner…
  22. Capital Markets Event – Kosmos Energy – slide 22
    GULF OF MEXICO: WHY NOW Attractive Economics Deepwater Gulf Of Mexico Competes Favorably With The Best Onshore US Plays 100 Deepwater GoM Half Cycle Breakeven / bb (WTI to Henry Hub 20:1) Breakeven…
  23. Capital Markets Event – Kosmos Energy – slide 23
    GULF OF MEXICO: WHY NOW Low Competition Easy Access, Plentiful Opportunities, Available Infrastructure 100 1,200 Kosmos Well Number of companies bidding in lease sales Positioned To 80 Become The Leading 900…
  24. Capital Markets Event – Kosmos Energy – slide 24
    GULF OF MEXICO Gulf Of Mexico Business Poised To Deliver Strong Production And Reserve Growth Gulf of Mexico Gulf of Mexico Acreage Low Lifting Cost1 (9/boe) High Margin Low F&D2 (15/boe) Gulf Of Mexico Net Reserves…
  25. Capital Markets Event – Kosmos Energy – slide 25
    GULF OF MEXICO High-Quality Asset Base With Substantial Low-Risk Upside Operational Highlights Net Production Outlook (mboepd) Business sustained through high 34 30 rate of return infill and 26 development drilling 22 18…
  26. Capital Markets Event – Kosmos Energy – slide 26
    EQUATORIAL GUINEA Substantial Value Creation Opportunity From Maximizing Value Of Existing Asset Base Equatorial Guinea Equatorial Guinea Acreage Low Lifting Cost1 (15/barrel) High Margin Low Acquisition Cost (5/barrel)…
  27. Capital Markets Event – Kosmos Energy – slide 27
    EQUATORIAL GUINEA Low Cost Activities To Sustain Production. Upside Through Infrastructure-Led Exploration Activity Operational Highlights Gross Production Profile (mbopd) 50 Business sustained through high rate of return 45 G-13…
  28. Capital Markets Event – Kosmos Energy – slide 28
    EQUATORIAL GUINEA Near-Term Production Optimization ESP Installation Generic ESP Example 2,500 Proven technology 2,000 ESP Phase 1: Two conversions complete / 1,500 Conversion three more in 2019 1,000 500 Targeting…
  29. Capital Markets Event – Kosmos Energy – slide 29
    GHANA Big Fields Get Bigger Ghana Ghana Acreage Low Lifting Cost1 (11/boe) High Margin Low F&D (12/boe) Ghana Gross EUR3 (mmboe) High Return Jubilee TEN Ghana 48 250 242 298 RRR2 100% Six Years In A 912 52 477 212…
  30. Capital Markets Event – Kosmos Energy – slide 30
    GHANA Substantial Reserve Base Underpins Significant Free Cash Flow Operational Highlights Gross Production Profile (mboepd) 200 2 rigs currently operational 150 Taking advantage of low rates 100 Targeting 7 wells drilling in…
  31. Capital Markets Event – Kosmos Energy – slide 31
    BASE BUSINESS NPV10 UNDERPINS THE VALUE OF KOSMOS Current Producing Assets Alone More Than Underpin Company Value 2018 NPV10 60 Brent (/Share) 12.00 10.00 8.00 6.00 4.00 2.00 2P Reserves NPV10 3P Reserves…
  32. Capital Markets Event – Kosmos Energy – slide 32
    INFRASTRUCTURE-LED EXPLORATION Richard Clark / Tracey Henderson Strictly Private and Confidential
  33. Capital Markets Event – Kosmos Energy – slide 33
    INFRASTRUCTURE-LED EXPLORATION: KEY TAKEAWAYS Strategic Acquisitions Have Created The Next Chapter Of Growth 20 Forecast ILX Production Growth 2018-2023E (mboepd) Attractive Returns: 18 Gulf of Mexico Leveraging Existing…
  34. Capital Markets Event – Kosmos Energy – slide 34
    GULF OF MEXICO Gulf Of Mexico Business Poised To Deliver Strong Production And Reserve Growth Gulf of Mexico A Salt Canopy Covers Most Of The C. and W. Deepwater GoM Large Unexplored Areas Significant Running Room Significant…
  35. Capital Markets Event – Kosmos Energy – slide 35
    LACK OF COMPETITION ENABLES ACCESS TO SIGNIFICANT RESOURCE Only 15% Of All GoM Deepwater Blocks Are Currently Leased A Third Expire Within Five Years 1,558 Deepwater Blocks Leased (vs. 4,500 Ten Years Ago) LOUISIANA Viosca…
  36. Capital Markets Event – Kosmos Energy – slide 36
    GULF OF MEXICO EXISTING CORE AREA Highly Attractive Economics And Significant Follow-On Exploration Opportunities Production Hub With Material Anchor Field For Kosmos (Odd Job) Delta House: Hub & Spoke Kosmos Working Discovery…
  37. Capital Markets Event – Kosmos Energy – slide 37
    CORE ANCHOR FIELD: ODD JOB A 76 mmboe Field Continues To Get Bigger Through Short-Cycle Exploration And Exploitation Odd Job Kosmos operator (55-61%) Discovered: 2015 F&D cost 11/boe Lifting cost1 10/boe Generated 4…
  38. Capital Markets Event – Kosmos Energy – slide 38
    CREATING THE NEXT CORE AREA PARTNERING WITH BP Production Hub With Material Anchor Prospect (Resolution) The Opportunity Resolution Kosmos-Operated 50/50 Multi Block Farm-In With BP Potential For New Production Hub Anchored By…
  39. Capital Markets Event – Kosmos Energy – slide 39
    WHY DOES THE OPPORTUNITY EXIST Major Breakthrough In Advanced Seismic Identifies Additional Oil Resources New Seismic Capabilities Create New Opportunities BP Atlantis Image Of Salt Formation 2004 Significantly enhanced sub-salt…
  40. Capital Markets Event – Kosmos Energy – slide 40
    RESOLUTION PROSPECT Stacked Reservoir Objectives Resolution Amplitude-supported sub-salt prospect Amplitudes conform to structure Seismically tied to existing discoveries in proven mini-basin Multiple stacked targets…
  41. Capital Markets Event – Kosmos Energy – slide 41
    MULTI-YEAR SUBSEA TIEBACK INVENTORY High Return, Infrastructure-Led Exploration Inventory Risked Exploration Program 50 Prospect inventory: 20+ prospects Risked Exploration 40 Base Added 15 prospects in last 6 months 30…
  42. Capital Markets Event – Kosmos Energy – slide 42
    GULF OF MEXICO An Acquisition With Significant Upside Future Upside From ILX Opportunities (mm) 2,500 Future value creation 2,000 1,500 Value creation to date DGE Acquisition 1,000 Delivered 1.5x, Targeting 2.0x…
  43. Capital Markets Event – Kosmos Energy – slide 43
    HISTORY OF KOSMOS IN EQUATORIAL GUINEA Unfinished Business Equatorial Guinea Timeline 1997 - 2003 2003 - 2017 2017+ Triton Energy team make Ceiba and Limited new Kosmos acquires Hess EG assets Today 1997 Okume…
  44. Capital Markets Event – Kosmos Energy – slide 44
    EQUATORIAL GUINEA INFRASTRUCTURE-LED EXPLORATION Lower Risk Tie-Backs Provide Significant Short-Cycle Production Growth Opportunity The Opportunity Fairway Map From Latest Seismic Santonian Salt Fairway Discovered Oil (500m Oil…
  45. Capital Markets Event – Kosmos Energy – slide 45
    G-13 OPPORTUNITY Infrastructure-Led Opportunity In Equatorial Guinea Overview Location Existing discovery accessed as part of Ceiba/Okume acquisition BLOCK W EG-21 Okume Proximity to Ceiba FPSO EG-24 BLOCK S Ceiba G-13…
  46. Capital Markets Event – Kosmos Energy – slide 46
    EQUATORIAL GUINEA AN ACQUISITION WITH SIGNIFICANT UPSIDE Cash Generative, High Return Acquisition Less Than One Year Payback Significantly More To Come (mm) 1,000 800 Future value creation 600 EG Acqisition Value…
  47. Capital Markets Event – Kosmos Energy – slide 47
    Q&A / Break Strictly Private and Confidential
  48. Capital Markets Event – Kosmos Energy – slide 48
    WORLD-SCALE DISCOVERIES Andy Inglis Strictly Private and Confidential
  49. Capital Markets Event – Kosmos Energy – slide 49
    WORLD SCALE DISCOVERIES: KEY TAKEAWAYS Mauritania and Senegal: Long-Term Growing Source of Cash Flow 50-100 Tcf GIIP World-Scale Resource (15-30 Tcf / 10 MTPA Net To Kosmos) Highly Competitive Source Of LNG Driving Rapid…
  50. Capital Markets Event – Kosmos Energy – slide 50
    WORLD SCALE GAS RESOURCE: MAURITANIA & SENEGAL 50-100 TCF GIIP1 Underpinning 30 MTPA Of LNG Liquefaction 10 MTPA Tortue Project Is The First Phase Of Development (BP Operated) 50-100 TCF Resource 3 Export Hubs2 Tortue: 25 Tcf…
  51. Capital Markets Event – Kosmos Energy – slide 51
    WORLD SCALE GAS RESOURCE: MAURITANIA & SENEGAL Mauritania And Senegal Positioned To Become Worlds Fourth Largest International LNG Player Current Operating International LNG Projects 1 Source: WoodMac; McKinsey Energy Insights 1.…
  52. Capital Markets Event – Kosmos Energy – slide 52
    THE MOST COMPETITIVE PROJECTS GET SANCTIONED Tortue Competitive With U.S. Gulf Coast LNG Pre-FID Greenfield Projects, Landed Cost Into North West Europe1 New capacity New capacity 16 needed by 2025 needed by 2030 14 12…
  53. Capital Markets Event – Kosmos Energy – slide 53
    WORLD SCALE GAS RESOURCE: MAURITANIA & SENEGAL Tortue Expected To Be The Fastest Greenfield LNG Project From Discovery To Production Fastest Greenfield Discovery To First Gas (years)1 40 35 30 25 20 15 10 5 0 Plant…
  54. Capital Markets Event – Kosmos Energy – slide 54
    SUPERMAJORS RE-GASIFYING PORTFOLIOS Scarcity Of High Quality LNG Assets of Scale Mauritania and Senegal A Valuable, Well-Timed To Market Asset 2016: Shell acquires of BG 2018: Total acquires Engie 2018: Total takes 10% direct 2016:…
  55. Capital Markets Event – Kosmos Energy – slide 55
    MAURITANIA & SENEGAL: PORTFOLIO OPTIMIZATION Value Creation For Shareholders - Phased Monetization At Value Inflection Points 2015 Tortue-1 Well Successful 10-15 Tcf : Underpins Commerciality 2015 BirAllah-1 Well Successful Second…
  56. Capital Markets Event – Kosmos Energy – slide 56
    VIDEO Capital Markets Presentation February 25, 2019 56
  57. Capital Markets Event – Kosmos Energy – slide 57
    TORTUE A SANCTIONED 10 MILLION TON PER ANNUM LNG PROJECT Tortue: A Cost Competitive, Innovative, Near Shore LNG Scheme First Gas Expected H1 2022 Low Cost Innovative Repeatable Capital Markets Presentation February 25, 2019 57
  58. Capital Markets Event – Kosmos Energy – slide 58
    TORTUE: KEY FIGURES (10% WORKING INTEREST) Fully Funded Through First Gas Resource Project Design Gross Recoverable resources: 15 Tcf Gas required for a 10mtpa LNG scheme: 12 Tcf Tortue Costs / Economics (net to Kosmos) CapEx…
  59. Capital Markets Event – Kosmos Energy – slide 59
    MAURITANIA & SENEGAL: GROWING SOURCE OF LONG-TERM CASH FLOW Objective: Self Funded, Long-Term Source Of Cash Flow From 10% Working Interest Tortue (10mtpa): Zero capex to first BirAllah Development Concept gas BirAllah…
  60. Capital Markets Event – Kosmos Energy – slide 60
    BASIN-OPENING EXPLORATION Tracey Henderson Strictly Private and Confidential
  61. Capital Markets Event – Kosmos Energy – slide 61
    BASIN OPENING EXPLORATION: KEY TAKEAWAYS High Quality Exploration Portfolio Sustainable Prospect Inventory Quality Through Choice Strategic Exploration Partnerships With BP/Shell Asymmetric Value Upside Capital Markets…
  62. Capital Markets Event – Kosmos Energy – slide 62
    KOSMOS FRONTIER EXPLORATION STRATEGY HAS NOT CHANGED Rifle Shot Exploration Focused geography Expert knowledge base ATLANTIC Focused geology Deep understanding of existing plays MARGIN Leverage knowledge and understanding to…
  63. Capital Markets Event – Kosmos Energy – slide 63
    2019 BASIN-OPENING EXPLORATION ACTIVITY Continuing To Grow The High Quality Prospect Inventory Drilling Mauritania: Orca-1 well Carried by BP Seismic Acquisition And Processing Sao Tome & Principe / Equatorial Guinea Cote…
  64. Capital Markets Event – Kosmos Energy – slide 64
    2019: MAURITANIA Follow-On Exploration Of Proven Play To Create Next LNG Hub In Mauritania Mauritania Orca Prospect Located on same structural ridge as BirAllah 15 km 9 miles (Marsouin-1) and Tortue discoveries Marsouin-1…
  65. Capital Markets Event – Kosmos Energy – slide 65
    2020: SURINAME Walker Targeting A Proven Play In Guyana Suriname Walker Prospect Walker: Carbonate prospect 4-way structural closure Proven play in Stabroek block with Ranger discovery Optimal charge migration pathway Source…
  66. Capital Markets Event – Kosmos Energy – slide 66
    2020: SAO TOME & PRINCIPE / EQUATORIAL GUINEA Captured Significant Position In A Basin With Proven Reservoir And Charge Sao Tome & Principe / Equatorial Guinea Rio Muni Basin: Extensive position established 47,000 km2 Proven…
  67. Capital Markets Event – Kosmos Energy – slide 67
    2021: COTE DIVOIRE Low Cost Entry With BP Into Large New Play Concept Cote DIvoire: Reservoir Extension Into Deepwater Basin entry in 2018 as part of BP Technical success Alliance (50/50) Oil shows COTE DIVOIRE Deepwater…
  68. Capital Markets Event – Kosmos Energy – slide 68
    2021: NAMIBIA Low Cost Entry With Shell Into Large New Play Concept Namibia New basin entry for Kosmos as part of Shell Alliance Evidence of oil prone marine NAMIBIA source rock beyond outer high Kudu SOUTH AFRICA Multiple…
  69. Capital Markets Event – Kosmos Energy – slide 69
    THE VALUE OF PARTNERSHIPS Working Alongside The Supermajors Exploration Alliances With Shell And BP Kosmos Exploration Alliances Super Major Reduced Technical Cycle Resources Times MAURITANIA AFRICA SENEGAL Exploration…
  70. Capital Markets Event – Kosmos Energy – slide 70
    2019 2021 BASIN-OPENING EXPLORATION ACTIVITY SCHEDULE Sustainable Two Wells / Year Program: Drilling Out 15 Billion Boe Prospect Inventory 2019 2020 2021 Exploration well Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 MAURITANIA Orca-1…
  71. Capital Markets Event – Kosmos Energy – slide 71
    FINANCE: POWERING THE PLATFORM Tom Chambers Strictly Private and Confidential
  72. Capital Markets Event – Kosmos Energy – slide 72
    FINANCE: KEY TAKEAWAYS Disciplined Balance Sheet Management Growing Liquidity No Near-Term Debt Maturities Active Hedging Policy Protects Downside Focus On Shareholder Returns Capital Markets Presentation February 25,…
  73. Capital Markets Event – Kosmos Energy – slide 73
    DISCIPLINED BALANCE SHEET MANAGEMENT Track Record Of Disciplined Balance Sheet Management Through The Commodity Cycle Target Leverage Ratio Of 1.0x 1.5x 4.0 3.5 Net Debt / EBITDAX covenant < 3.5x 3.0 2.5 2.0 60 Brent 1.5…
  74. Capital Markets Event – Kosmos Energy – slide 74
    GROWING LIQUIDITY Targeting 1.0 Billion Provides Flexibility Through Cycles Robust Liquidity Position1 2.0 80 70 1.5 60 50 Oil price (/barrel) 60 Brent Liquidity (bn) 1.0 Excludes proceeds 40 from expected M/S…
  75. Capital Markets Event – Kosmos Energy – slide 75
    NO NEAR TERM DEBT MATURITIES Actively Manage Debt Maturities To Ensure Capital Flexibility Debt Maturity Profile (mm) 800 600 400 200 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 RBL RCF Existing Notes Potential…
  76. Capital Markets Event – Kosmos Energy – slide 76
    ACTIVE HEDGING POLICY PROTECTS DOWNSIDE Reducing Oil Price Exposure Through Our Consistent And Robust Commodity Hedging Program Hedge significant forward Hedged Production 2019-2020 (mmbbl) 10.5 mmbbl, production to protect cash…
  77. Capital Markets Event – Kosmos Energy – slide 77
    FOCUS ON SHAREHOLDER RETURNS Excess Cash Flow Funds Debt Reduction and Shareholder Returns 2018 2019-21E Sources And Uses 60/bbl Brent Excludes any proceeds Share Buyback 2,500 from M/S sell-down 190 Million 2,000 35…
  78. Capital Markets Event – Kosmos Energy – slide 78
    2019 GUIDANCE SLIDE Q1 2019 FY 2019 Production1,2 58,000 60,000 boe/day 69,000 73,000 boe/day Opex 14.00-16.00/boe 12.00-15.00/boe DD&A 22.00-25.00/boe 22.00-25.00/boe G&A3 32-35 million 115-125 million Exploration Expense 30…
  79. Capital Markets Event – Kosmos Energy – slide 79
    CONCLUSION Andy Inglis Strictly Private and Confidential
  80. Capital Markets Event – Kosmos Energy – slide 80
    CONCLUSION Kosmos can fund 2019 Capex 8-10% production Resilient Business: its sustaining capex Reduction: CAGR 2018-2021 Low Cost and and dividends at maintained with From 500-600mm Cash Generative 35/barrel Brent to 425-475mm…
  81. Capital Markets Event – Kosmos Energy – slide 81
    Appendix Strictly Private and Confidential
  82. Capital Markets Event – Kosmos Energy – slide 82
    Capital Markets Presentation February 25, 2019 82

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