Kosmos Energy (KOS) 10-Q 8 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 04, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
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
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		451,889,062
Entity Central Index Key	0001509991
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 111,329	$ 149,027
Restricted cash	43,208	195
Receivables:
Joint interest billings, net	26,147	26,002
Oil sales	31,740	44,491
Other	17,970	8,320
Inventories	152,950	128,972
Prepaid expenses and other	32,577	27,870
Derivatives	0	15,414
Total current assets	415,921	400,291
Property and equipment:
Oil and gas properties, net	3,435,384	3,310,276
Other property, net	7,513	10,637
Property and equipment, net	3,442,897	3,320,913
Other assets:
Restricted cash	305	542
Long-term receivables	271,295	117,497
Deferred financing costs, net of accumulated amortization of $19,258 and $17,296 at September 30, 2021 and December 31, 2020, respectively	1,744	3,706
Derivatives	0	964
Other	21,562	23,680
Total assets	4,153,724	3,867,593
Current liabilities:
Accounts payable	143,155	221,430
Accrued liabilities	180,725	203,260
Current maturities of long-term debt	30,000	7,500
Derivatives	107,863	28,009
Total current liabilities	461,743	460,199
Long-term liabilities:
Long-term debt, net	2,368,240	2,103,931
Derivatives	21,548	8,069
Asset retirement obligations	265,409	244,166
Deferred tax liabilities	505,253	573,619
Other long-term liabilities	244,779	37,455
Total long-term liabilities	3,405,229	2,967,240
Stockholders’ equity:
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at September 30, 2021 and December 31, 2020	0	0
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 453,004,504 and 449,718,317 issued at September 30, 2021 and December 31, 2020, respectively	4,530	4,497
Additional paid-in capital	2,330,337	2,307,220
Accumulated deficit	(1,811,108)	(1,634,556)
Treasury stock, at cost, 44,263,269 shares at September 30, 2021 and December 31, 2020, respectively	(237,007)	(237,007)
Total stockholders’ equity	286,752	440,154
Total liabilities and stockholders’ equity	$ 4,153,724	$ 3,867,593

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Deferred financing costs, accumulated amortization	$ 19,258	$ 17,296
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)	453,004,504	449,718,317
Treasury stock shares (in shares)	44,263,269	44,263,269

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	Mar. 26, 2020	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenues and other income:
Oil and gas revenue		$ 198,936				$ 224,786			$ 759,455	$ 529,880
Gain on sale of assets		1,538				0			1,564	0
Other income, net		66				1			210	2
Total revenues and other income		200,540				224,787			761,229	529,882
Costs and expenses:
Oil and gas production		50,316				84,277			211,871	234,627
Facilities insurance modifications, net		1,554				2,465			3,495	10,555
Exploration expenses		23,982				13,977			41,452	74,293
General and administrative		22,459				18,269			66,628	57,366
Depletion, depreciation and amortization		64,914				111,231			292,616	326,390
Impairment of long-lived assets		0			$ 3,200	0			0	150,820	$ 154,000
Interest and other financing costs, net		26,873				27,068			90,727	83,177
Derivatives, net		38,224				1,187			252,606	(34,776)
Other expenses, net		194				2,805			1,003	27,962
Total costs and expenses		228,516				261,279			960,398	930,414
Loss before income taxes		(27,976)				(36,492)			(199,169)	(400,532)
Income tax expense (benefit)		621				892			(22,617)	19,010
Net loss		$ (28,597)	$ (57,187)	$ (90,768)		$ (37,384)	$ (199,391)	$ (182,767)	$ (176,552)	$ (419,542)
Net loss per share:
Basic (in dollars per share)		$ (0.07)				$ (0.09)			$ (0.43)	$ (1.04)
Diluted (in dollars per share)		$ (0.07)				$ (0.09)			$ (0.43)	$ (1.04)
Weighted average number of shares used to compute net loss per share:
Basic (in shares)		408,520				405,409			408,009	405,131
Diluted (in shares)		408,520				405,409			408,009	405,131
Dividends declared per common share (in dollars per share)	$ 0.0452	$ 0				$ 0		$ 0.0452	$ 0	$ 0.0452

CONSOLIDATED STATEMENTS OF STOC

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, 2019		445,779
Balance at the beginning at Dec. 31, 2019	$ 841,702	$ 4,458	$ 2,297,221	$ (1,222,970)	$ (237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	(18,918)		(18,918)
Equity-based compensation	10,078		10,078
Restricted stock awards and units (in shares)		3,590
Restricted stock units	0	$ 36	(36)
Tax withholdings on restricted stock units	(4,947)		(4,947)
Net income (loss)	(182,767)			(182,767)
Balance at the end (in shares) at Mar. 31, 2020		449,369
Balance at the end at Mar. 31, 2020	645,148	$ 4,494	2,283,398	(1,405,737)	(237,007)
Balance at the beginning (in shares) at Dec. 31, 2019		445,779
Balance at the beginning at Dec. 31, 2019	841,702	$ 4,458	2,297,221	(1,222,970)	(237,007)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(419,542)
Balance at the end (in shares) at Sep. 30, 2020		449,673
Balance at the end at Sep. 30, 2020	425,564	$ 4,497	2,300,586	(1,642,512)	(237,007)
Balance at the beginning (in shares) at Mar. 31, 2020		449,369
Balance at the beginning at Mar. 31, 2020	645,148	$ 4,494	2,283,398	(1,405,737)	(237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	24		24
Equity-based compensation	8,406		8,406
Restricted stock awards and units (in shares)		206
Restricted stock units	0	$ 2	(2)
Net income (loss)	(199,391)			(199,391)
Balance at the end (in shares) at Jun. 30, 2020		449,575
Balance at the end at Jun. 30, 2020	454,187	$ 4,496	2,291,826	(1,605,128)	(237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	27		27
Equity-based compensation	8,734		8,734
Restricted stock awards and units (in shares)		98
Restricted stock units	0	$ 1	(1)
Net income (loss)	(37,384)			(37,384)
Balance at the end (in shares) at Sep. 30, 2020		449,673
Balance at the end at Sep. 30, 2020	425,564	$ 4,497	2,300,586	(1,642,512)	(237,007)
Balance at the beginning (in shares) at Dec. 31, 2020		449,718
Balance at the beginning at Dec. 31, 2020	440,154	$ 4,497	2,307,220	(1,634,556)	(237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	90		90
Equity-based compensation	8,327		8,327
Restricted stock awards and units (in shares)		2,408
Restricted stock units	0	$ 24	(24)
Tax withholdings on restricted stock units	(1,018)		(1,018)
Net income (loss)	(90,768)			(90,768)
Balance at the end (in shares) at Mar. 31, 2021		452,126
Balance at the end at Mar. 31, 2021	356,785	$ 4,521	2,314,595	(1,725,324)	(237,007)
Balance at the beginning (in shares) at Dec. 31, 2020		449,718
Balance at the beginning at Dec. 31, 2020	440,154	$ 4,497	2,307,220	(1,634,556)	(237,007)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(176,552)
Balance at the end (in shares) at Sep. 30, 2021		453,005
Balance at the end at Sep. 30, 2021	286,752	$ 4,530	2,330,337	(1,811,108)	(237,007)
Balance at the beginning (in shares) at Mar. 31, 2021		452,126
Balance at the beginning at Mar. 31, 2021	356,785	$ 4,521	2,314,595	(1,725,324)	(237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	29		29
Equity-based compensation	7,634		7,634
Restricted stock awards and units (in shares)		540
Restricted stock units	0	$ 6	(6)
Tax withholdings on restricted stock units	(19)		(19)
Net income (loss)	(57,187)			(57,187)
Balance at the end (in shares) at Jun. 30, 2021		452,666
Balance at the end at Jun. 30, 2021	307,242	$ 4,527	2,322,233	(1,782,511)	(237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	21		21
Equity-based compensation	8,149		8,149
Restricted stock awards and units (in shares)		339
Restricted stock units	0	$ 3	(3)
Tax withholdings on restricted stock units	(63)		(63)
Net income (loss)	(28,597)			(28,597)
Balance at the end (in shares) at Sep. 30, 2021		453,005
Balance at the end at Sep. 30, 2021	$ 286,752	$ 4,530	$ 2,330,337	$ (1,811,108)	$ (237,007)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Mar. 26, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.0452	$ 0	$ 0	$ 0.0452	$ 0	$ 0.0452

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss	$ (176,552)	$ (419,542)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depletion, depreciation and amortization (including deferred financing costs)	300,404	333,120
Deferred income taxes	(68,366)	3,715
Unsuccessful well costs and leasehold impairments	16,772	24,338
Impairment of long-lived assets	0	150,820
Change in fair value of derivatives	259,289	(32,156)
Cash settlements on derivatives, net (including $(142.9) million and $22.8 million on commodity hedges during 2021 and 2020)	(150,255)	16,904
Equity-based compensation	24,011	26,392
Gain on sale of assets	(1,564)	0
Loss on extinguishment of debt	15,223	2,893
Other	(2,763)	6,673
Changes in assets and liabilities:
Decrease in receivables	1,537	88,107
Increase in inventories	(24,280)	(30,848)
(Increase) decrease in prepaid expenses and other	(4,800)	3,253
Decrease in accounts payable	(35,545)	(2,631)
Decrease in accrued liabilities	(9,270)	(150,381)
Net cash provided by operating activities	143,841	20,657
Investing activities
Oil and gas assets	(377,125)	(215,425)
Other property	(725)	(1,838)
Proceeds on sale of assets	5,327	1,713
Notes receivable from partners	(41,712)	(53,574)
Net cash used in investing activities	(414,235)	(269,124)
Financing activities
Borrowings under long-term debt	250,000	300,000
Payments on long-term debt	(400,000)	0
Advances under production prepayment agreement	0	50,000
Net proceeds from issuance of senior notes	444,375	0
Tax withholdings on restricted stock units	(1,100)	(4,947)
Dividends	(512)	(19,174)
Deferred financing costs	(17,291)	(4,570)
Net cash provided by financing activities	275,472	321,309
Net increase in cash, cash equivalents and restricted cash	5,078	72,842
Cash, cash equivalents and restricted cash at beginning of period	149,764	229,346
Cash, cash equivalents and restricted cash at end of period	154,842	302,188
Cash paid for:
Interest, net of capitalized interest	61,046	101,908
Income taxes, net of refund received	67,581	68,330
Non-cash activity:
Production Prepayment Agreement converted to GoM Term Loan	$ 0	$ 50,000

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Cash Flows [Abstract]
Cash settlements on commodity hedges derivatives	$ (142.9)	$ 22.8

Organization

Organization	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Kosmos Energy Ltd. was originally incorporated pursuant to the laws of Bermuda in January 2011 to become a holding company for Kosmos Energy Holdings. Kosmos Energy Ltd. changed its jurisdiction of incorporation from Bermuda to the State of Delaware in December 2018 and 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.’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 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 proven basin exploration program in Equatorial Guinea, Ghana and U.S. Gulf of Mexico. Kosmos is listed on the New York Stock Exchange and London Stock Exchange 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 U.S. Gulf of Mexico.

Accounting Policies

Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Accounting Policies	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, 2020, 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 loss, current assets, total assets, current liabilities, total liabilities, stockholders’ equity or cash flows. Cash, Cash Equivalents and Restricted Cash September 30, December 31, (In thousands) Cash and cash equivalents $ 111,329 $ 149,027 Restricted cash - current 43,208 195 Restricted cash - long-term 305 542 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 154,842 $ 149,764 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. When our net leverage ratio exceeds 2.50x, we are required under the Facility to maintain a restricted cash balance that is sufficient to meet the payment of interest and fees for the next six-month period on the 7.125% Senior Notes and the 7.500% Senior Notes plus the Corporate Revolver or the Facility, whichever is greater. As of September 30, 2021 we have restricted cash of approximately $42.9 million to meet our requirements. In accordance with certain of our petroleum contracts, we have posted letters of credit related to performance guarantees for our minimum work obligations. Certain of these letters of credit are cash collateralized in accounts held by us and as such are classified as restricted cash. Upon completion of the minimum work obligations and/or entering into the next phase of the respective petroleum contract, the requirement to post the existing letters of credit will be satisfied and the cash collateral will be released. However, additional letters of credit may be required should we choose to move into the next phase of certain of our petroleum contracts. Inventories Inventories consisted of $127.9 million and $127.5 million of materials and supplies and $25.1 million and $1.5 million of hydrocarbons as of September 30, 2021 and December 31, 2020, 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 after the sale. Oil and gas revenue is composed of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Revenues from contract with customer - Equatorial Guinea $ 34,247 $ 43,003 $ 145,378 $ 95,520 Revenues from contract with customer - Ghana 65,969 124,436 321,855 238,686 Revenues from contract with customers - U.S. Gulf of Mexico 96,626 55,620 298,905 198,294 Provisional oil sales contracts 2,094 1,727 (6,683) (2,620) Oil and gas revenue $ 198,936 $ 224,786 $ 759,455 $ 529,880 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 available, we believe that the loss of our marketing agents and/or any of the purchasers identified by our marketing agents would not have a long‑term material adverse effect on our financial position or results of operations. The continued economic disruption resulting from the COVID-19 pandemic could materially impact the Company’s business in future periods. Any potential disruption will depend on the duration and intensity of these events, which are highly uncertain and cannot be predicted at this time. Recent Accounting Standards In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes”. Our adoption of ASU 2019-12 on January 1, 2021, did not have a material impact on our income tax expense.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and DivestituresDuring the third quarter of 2020, Kosmos entered into an agreement with Shell to farm down interests in a portfolio of frontier exploration assets for cash consideration of $96.0 million and future contingent consideration of up to $100.0 million. Under the terms of the agreement, Shell acquired Kosmos' participating interest in blocks offshore Sao Tome and Principe, (excluding Block 5 offshore Sao Tome and Principe), Suriname, Namibia, and South Africa. Kosmos received proceeds totaling $95.0 million during the fourth quarter of 2020 resulting in gain on sale of assets of $92.1 million. The remaining proceeds of $1.0 million related to Kosmos' participating interest in South Africa were received during the third quarter of 2021. The future contingent consideration is payable by Shell upon approval of the relevant operating committee of an appraisal plan for submission to the relevant governmental authority for any of the first four exploration wells it elects to drill in the purchased assets, excluding South Africa. Shell will pay us $50.0 million for each appraisal plan approved by the relevant operating committee to be submitted, subject to an aggregate cap of $100.0 million, or two $50.0 million payments.

Joint Interest Billings and Lon

Joint Interest Billings and Long-term Receivables	9 Months Ended
	Sep. 30, 2021
Joint Interest Billings
Joint Interest Billings and Long-term Receivables	Joint Interest Billings and Long-term Receivables 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. In Ghana, the foreign contractor group funded GNPC’s 5% share of the TEN development costs. The foreign contractor group is being reimbursed for such costs plus interest out of a portion of GNPC’s TEN production revenues. As of September 30, 2021 and December 31, 2020, the current portions of the joint interest billing receivables due from GNPC for the TEN fields development costs were $5.8 million and $5.8 million, respectively, and the long-term portions were $21.6 million and $21.2 million, respectively. Notes Receivables In February 2019, Kosmos and BP signed Carry Advance Agreements with the national oil companies of Mauritania and Senegal obligating us separately to finance the respective national oil company’s share of certain development costs incurred through first gas production for Greater Tortue Ahmeyim Phase 1, currently projected in the third quarter of 2023. Kosmos’ share for the two agreements combined is up to $239.7 million, which is to be repaid with interest through the national oil companies’ share of future revenues. As of September 30, 2021 and December 31, 2020, the balance due from the national oil companies was $143.4 million and $96.3 million, respectively, which is classified as Long-term receivables on our consolidated balance sheets. Other Long-term Receivables In August 2021, BP, as the operator of the Greater Tortue project (“BP Operator”), with the consent of the Greater Tortue Unit participants and the respective States, agreed to sell the Greater Tortue FPSO (which is currently under construction by Technip Energies in China) to an affiliate of BP (“BP Buyer”). The Greater Tortue FPSO will be leased back to BP Operator under a long-term lease agreement, for exclusive use in the Greater Tortue project. BP Operator will continue to manage and supervise the construction contract with Technip Energies. Delivery of the Greater Tortue FPSO to BP Buyer will occur after construction is complete and the Greater Tortue FPSO has been commissioned, with the lease to BP Operator becoming effective on the same date, currently estimated to be in the third quarter of 2023.

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment is stated at cost and consisted of the following: September 30, December 31, (In thousands) Oil and gas properties: Proved properties $ 5,751,720 $ 5,369,737 Unproved properties 515,499 495,390 Total oil and gas properties 6,267,219 5,865,127 Accumulated depletion (2,831,835) (2,554,851) Oil and gas properties, net 3,435,384 3,310,276 Other property 58,541 59,949 Accumulated depreciation (51,028) (49,312) Other property, net 7,513 10,637 Property and equipment, net $ 3,442,897 $ 3,320,913 We recorded depletion expense of $58.8 million and $104.9 million for the three months ended September 30, 2021 and 2020, respectively, and $274.6 million and $307.8 million for the nine months ended September 30, 2021 and 2020, respectively. During the three months ended September 30, 2021 and 2020, no oil and gas asset impairments were recorded. During the nine months ended September 30, 2021 and 2020, we recorded asset impairments totaling zero and $150.8 million, respectively, in our consolidated statement of operations in connection with fair value assessments for oil and gas proved properties.

Suspended Well Costs

Suspended Well Costs	9 Months Ended
	Sep. 30, 2021
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Suspended Well Costs	Suspended Well Costs The following table reflects the Company’s capitalized exploratory well costs on drilled wells as of and during the nine months ended September 30, 2021. September 30, (In thousands) Beginning balance $ 186,289 Additions to capitalized exploratory well costs pending the determination of proved reserves 20,257 Reclassification due to determination of proved reserves (201) Capitalized exploratory well costs charged to expense — Ending balance $ 206,345 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: September 30, December 31, (In thousands, except well counts) Exploratory well costs capitalized for a period of one year or less $ 11,393 $ — Exploratory well costs capitalized for a period of one to two years 30,684 28,692 Exploratory well costs capitalized for a period of three to five years 164,268 157,597 Ending balance $ 206,345 $ 186,289 Number of projects that have exploratory well costs that have been capitalized for a period greater than one year 3 3 As of September 30, 2021, the projects with exploratory well costs capitalized for more than one year since the completion of drilling are related to the BirAllah discovery (formerly known as the Marsouin discovery) in Block C8 offshore Mauritania, the Yakaar and Teranga discoveries in the Cayar Offshore Profond block offshore Senegal, and the Asam discovery in Block S offshore Equatorial Guinea. BirAllah Discovery — In November 2015, we completed the Marsouin-1 exploration well in the northern part of Block C8 offshore Mauritania, which encountered hydrocarbon pay. Following additional evaluation, a decision regarding commerciality is expected to be made. During the fourth quarter of 2019, we completed the nearby Orca-1 exploration well which encountered hydrocarbon pay. Following additional evaluation, a decision regarding commerciality is expected to be made. The BirAllah and Orca discoveries are being analyzed as a joint development including concept design and other appraisal studies. Yakaar and Teranga Discoveries — In May 2016, we completed the Teranga-1 exploration well in the Cayar Offshore Profond block offshore Senegal, which encountered hydrocarbon pay. In June 2017, we completed 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 completed the Yakaar-2 appraisal well which encountered hydrocarbon pay. The Yakaar-2 well was drilled approximately nine kilometers from the Yakaar-1 exploration well. Following additional evaluation, a decision regarding commerciality is expected to be made. The Yakaar and Teranga discoveries are being analyzed as a joint development including concept design and other appraisal studies. Asam Discovery — In October 2019, we completed the S-5 exploration well offshore Equatorial Guinea, which encountered hydrocarbon pay. In July 2020, an appraisal plan was approved by the government of Equatorial Guinea. The well is located within tieback range of the Ceiba FPSO and work is currently ongoing to integrate all available data into models to establish the scale of the discovered resource. Additionally, engineering is progressing concepts around required subsea infrastructure necessary for a subsea tieback. Once the appraisal plan involving this work is complete, a decision regarding commerciality will be made.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt September 30, December 31, (In thousands) Outstanding debt principal balances: Facility $ 1,150,000 $ 1,200,000 Corporate Revolver — 100,000 7.125% Senior Notes 650,000 650,000 7.500% Senior Notes 450,000 — GoM Term Loan 200,000 200,000 Total 2,450,000 2,150,000 Unamortized deferred financing costs and discounts (51,760) (38,569) Total debt, net 2,398,240 2,111,431 Less: Current maturities of long-term debt (30,000) (7,500) Long-term debt, net $ 2,368,240 $ 2,103,931 __________________________________ Facility The Facility supports our oil and gas exploration, appraisal and development programs and corporate activities. As of September 30, 2021, borrowings under the Facility totaled $1.15 billion and the undrawn availability under the facility was $85.2 million (limited by current commitments). In May 2021, the Company entered into an amended and restated facility agreement and certain ancillary documents. The amendments to the terms of the Facility included the following: • the extension of the maturity date by two years (final maturity date now occurs on March 31, 2027), • the extension of the amortization schedule such that amortization of principal is to commence on March 31, 2024 and continue in equal amounts every six months thereafter until the maturity date, • an increase in the interest margin by 0.5% (applicable interest margin for the first three years is now LIBOR +3.75%), • the incorporation of a mechanism for two ESG key performance indicators (“KPIs”) to impact the interest margin either positively or negatively based upon delivering emissions targets and achieving certain third party ESG ratings, • an increase in the Loan Life Coverage Ratio from 1.10x to 1.30x after March 31, 2024, • the removal of Kosmos Energy Investments Senegal Limited, Kosmos Energy Senegal and Kosmos Energy Mauritania as borrowers, guarantors and pledged subsidiaries, and • a reduction in the Facility size to $1.25 billion (from $1.5 billion). As amended, the Facility has an available borrowing base of approximately $1.24 billion. As part of the amendment, the Company incurred $15.2 million for loss on extinguishment of debt during the second quarter of 2021. The Facility amendment contains other customary representations and warranties, covenants and informational undertakings, in each case, subject to certain exceptions and conditions. The Facility amendment also provides for certain customary events of default, including, among other things, payment defaults, breach of representations and warranties, covenant defaults, cross-defaults to certain indebtedness, certain events of insolvency, judgment defaults, and repudiation or rescission of certain documents supporting the amendment. If such an event of default occurs, the agents under such amendment are entitled to take various actions, including the cancellation of any outstanding commitments, acceleration of amounts due thereunder and taking certain permitted enforcement actions under the ancillary security documents, subject in each case to the terms of the Facility amendment and such security documents. During the September 2021 redetermination, the Company’s lending syndicate approved a borrowing base capacity in excess of the facility size of $1.25 billion. When our net leverage ratio exceeds 2.50x, we are required under the Facility to maintain a restricted cash balance that is sufficient to meet the payment of interest and fees for the next six-month period on the 7.125% Senior Notes and the 7.500% Senior Notes plus the Corporate Revolver or the Facility, whichever is greater. As of September 30, 2021 we have restricted cash of approximately $42.9 million to meet our requirements. As a result of the impact of COVID-19 on the demand for oil and the related significant decrease in oil prices, our ability to comply with one of our financial covenants, the debt cover ratio, may be impacted in future periods. Therefore, in July 2020, we proactively worked with our lender group, prior to any inability to comply with the financial covenants thereunder, to amend the debt cover ratio calculation through December 31, 2021. The amendment makes this covenant less restrictive during the stated period up to a maximum of 4.75x and thereafter gradually returns to the originally agreed upon ratio of 3.5x. We were in compliance with the financial covenants as of the most recent assessment date. The Facility, as amended, contains customary cross default provisions. Corporate Revolver In August 2018, we amended and restated the Corporate Revolver maintaining the borrowing capacity at $400.0 million, extending the maturity date from November 2018 to May 2022 and lowering the margin to 5%. This results in lower commitment fees on the undrawn portion of the total commitments, which is 30% per annum of the respective margin. The Corporate Revolver is available for general corporate purposes and for oil and gas exploration, appraisal and development programs. As of September 30, 2021, there were no outstanding borrowings under the Corporate Revolver and the undrawn availability was $400.0 million. As a result of the impact of COVID-19 on the demand for oil and the related significant decrease in oil prices, our ability to comply with one of our financial covenants, the debt cover ratio, may be impacted in future periods. Therefore, in July 2020, we proactively worked with our lender group, prior to any inability to comply with the financial covenants thereunder, to amend the debt cover ratio calculation through December 31, 2021. The amendment makes this covenant less restrictive during the stated period up to a maximum of 4.75x and thereafter gradually returns to the originally agreed upon ratio of 3.5x. We were in compliance with the financial covenants as of 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 fees and other expenses. We used the net proceeds to redeem all of the previously issued 7.875% Senior Secured Notes due 2021, repay a portion of the outstanding indebtedness under the Corporate Revolver and pay fees and expenses related to the redemption, repayment and the issuance of the 7.125% Senior Notes. 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 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 on a subordinated, unsecured basis by certain subsidiaries that guarantee the Facility. We were in compliance with the financial covenants contained in the 7.125% Senior Notes as of September 30, 2021. The 7.125% 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. We used the net proceeds to repay outstanding indebtedness under the Corporate Revolver and the Facility, to pay expenses related to the issuance of the 7.500% Senior Notes and for general corporate purposes. 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 and the 7.125% 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 on a subordinated, unsecured basis by certain subsidiaries that borrow under, or guarantee, the Facility and, on a subordinated basis, guarantee the Corporate Revolver and the 7.125% Senior Notes. At any time prior to March 1, 2024, and subject to certain conditions, the Company may, on one or more occasions, redeem up to 40% of the original principal amount of the 7.500% Senior Notes with an amount not to exceed the net cash proceeds of certain equity offerings at a redemption price of 107.500% of the outstanding principal amount of the 7.500% Senior Notes, together with accrued and unpaid interest and premium, if any, to, but excluding, the date of redemption. Additionally, at any time prior to March 1, 2024 the Company may, on any one or more occasions, redeem all or a part of the 7.500% Senior Notes at a redemption price equal to 100%, plus any accrued and unpaid interest, and plus a “make-whole” premium. On or after March 1, 2024, the Company may redeem all or a part of the 7.500% Senior Notes at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest: Year Percentage On or after March 1, 2024, but before February 28, 2025 103.750 % On or after March 1, 2025, but before February 28, 2026 101.875 % On or after March 1, 2026 and thereafter 100.000 % We may also redeem the 7.500% Senior Notes in whole, but not in part, at any time if changes in tax laws impose certain withholding taxes on amounts payable on the 7.500% Senior Notes at a price equal to the principal amount of the 7.500% Senior Notes plus accrued interest and additional amounts, if any, as may be necessary so that the net amount received by each holder after any withholding or deduction on payments of the 7.500% Senior Notes will not be less than the amount such holder would have received if such taxes had not been withheld or deducted. Upon the occurrence of a change of control triggering event as defined under the 7.500% Senior Notes indenture, the Company will be required to make an offer to repurchase the 7.500% Senior Notes at a repurchase price equal to 101% of the principal amount, plus accrued and unpaid interest to, but excluding, the date of repurchase. If we sell assets, under certain circumstances outlined in the 7.500% Senior Notes indenture, we will be required to use the net proceeds to make an offer to purchase the 7.500% Senior Notes at an offer price in cash in an amount equal to 100% of the principal amount of the 7.500% Senior Notes, plus accrued and unpaid interest to, but excluding, the repurchase date. The 7.500% Senior Notes indenture restricts the ability of the Company and its restricted subsidiaries to, among other things: incur or guarantee additional indebtedness, create liens, pay dividends or make distributions in respect of capital stock, purchase or redeem capital stock, make investments or certain other restricted payments, sell assets, enter into agreements that restrict the ability of the Company's subsidiaries to make dividends or other payments to the Company, enter into transactions with affiliates, or effect certain consolidations, mergers or amalgamations. Certain of these covenants will be terminated if the 7.500% Senior Notes are assigned an investment grade rating by both Standard & Poor’s Rating Services and Fitch Ratings Inc. and no default or event of default has occurred. We were in compliance with the financial covenants contained in the 7.500% Senior Notes as of September 30, 2021. The 7.500% Senior Notes contain customary cross default provisions. Production Prepayment Agreement In June 2020, the Company received $50.0 million from Trafigura under a Production Prepayment Agreement of crude oil sales related to a portion of our U.S. Gulf of Mexico production primarily in 2022 and 2023. The Company terminated the Production Prepayment Agreement and the initial prepayment of $50.0 million advanced under the Production Prepayment Agreement by Trafigura in the second quarter of 2020 was extinguished and converted into the GoM Term Loan as of September 30, 2020. 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 an effective rate of approximately 6% per annum and matures in 2025, with principal repayments beginning in the fourth quarter of 2021. We were in compliance with the covenants, representations and warranties contained in the GoM Term Loan as of as of September 30, 2021 (the most recent assessment date). The GoM Term Loan contains customary cross default provisions as well as maturity acceleration provisions if certain Permitted Guaranteed Facilities are not refinanced prior to scheduled maturity. Principal Debt Repayments At September 30, 2021, the estimated repayments of debt during the five fiscal year periods and thereafter are as follows: Payments Due by Year Total 2021(2) 2022 2023 2024 2025 Thereafter (In thousands) Principal debt repayments(1) $ 2,450,000 $ 7,500 $ 30,000 $ 142,621 $ 237,834 $ 402,692 $ 1,629,353 __________________________________ (1) Includes the scheduled principal maturities for the $650.0 million aggregate principal amount of the 7.125% Senior Notes, the $450.0 million aggregate principal amount of the 7.500% Senior Notes and borrowings under the Facility, Corporate Revolver and GoM Term Loan. The scheduled maturities of debt related to the Facility as of September 30, 2021 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 October 1, 2021 through December 31, 2021. Interest and other financing costs, net Interest and other financing costs, net incurred during the periods is comprised of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Interest expense $ 36,055 $ 29,760 $ 103,229 $ 90,031 Amortization—deferred financing costs 2,597 2,255 7,788 6,730 Loss on extinguishment of debt — 678 15,223 2,893 Capitalized interest (12,252) (5,806) (31,956) (18,062) Deferred interest (600) 531 (724) 2,028 Interest income (2,237) (1,269) (8,309) (3,371) Other, net 3,310 919 5,476 2,928 Interest and other financing costs, net $ 26,873 $ 27,068 $ 90,727 $ 83,177

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	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 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 September 30, 2021. 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) Swap Put Floor Ceiling 2021: Oct — Dec Swaps with sold puts Dated Brent 1,500 $ — $ 53.96 $ 42.92 $ — $ — Oct — Dec Three-way collars Dated Brent 750 0.45 — 32.50 40.00 53.47 Oct — Dec Three-way collars NYMEX WTI 250 1.00 — 37.50 45.00 55.00 Oct — Dec Sold calls(1) Dated Brent 1,750 — — — — 70.09 2022: Jan — Dec Three-way collars Dated Brent 4,500 0.64 — 43.33 56.67 76.91 Jan — Dec Two-way collars Dated Brent 3,000 1.26 — — 55.00 76.67 Jan — Dec Sold calls(1) Dated Brent 1,581 — — — — 60.00 __________________________________ (1) Represents call option contracts sold to counterparties to enhance other derivative positions In October 2021, we entered into Dated Brent two-way collar contracts for 2.0 MMBbl from January 2022 through December 2022 with a floor price of $70.00 per barrel and a ceiling price of $90.00 per barrel. The following tables disclose the Company’s derivative instruments as of September 30, 2021 and December 31, 2020, and gain/(loss) from derivatives during the three and nine months ended September 30, 2021 and 2020, respectively: Estimated Fair Value Asset (Liability) Type of Contract Balance Sheet Location September 30, December 31, (In thousands) Derivatives not designated as hedging instruments: Derivative assets: Commodity Derivatives assets—current $ — $ 15,414 Provisional oil sales Receivables: Oil Sales — (677) Commodity Derivatives assets—long-term — 964 Derivative liabilities: Commodity Derivatives liabilities—current (107,863) (28,009) Commodity Derivatives liabilities—long-term (21,548) (8,069) Total derivatives not designated as hedging instruments $ (129,411) $ (20,377) Amount of Gain/(Loss) Amount of Gain/(Loss) Three Months Ended Nine Months Ended September 30, September 30, Type of Contract Location of Gain/(Loss) 2021 2020 2021 2020 (In thousands) Derivatives not designated as hedging instruments: Provisional oil sales Oil and gas revenue $ 2,094 $ 1,727 $ (6,683) $ (2,620) Commodity Derivatives, net (38,224) (1,187) (252,606) 34,776 Total derivatives not designated as hedging instruments $ (36,130) $ 540 $ (259,289) $ 32,156 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 September 30, 2021 and December 31, 2020, 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.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	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 September 30, 2021 and December 31, 2020, 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) September 30, 2021 Assets: Commodity derivatives $ — $ — $ — $ — Provisional oil sales — — — — Liabilities: Commodity derivatives — (129,411) — (129,411) Total $ — $ (129,411) $ — $ (129,411) December 31, 2020 Assets: Commodity derivatives $ — $ 16,378 $ — $ 16,378 Provisional oil sales — (677) — (677) Liabilities: Commodity derivatives — (36,078) — (36,078) Total $ — $ (20,377) $ — $ (20,377) 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, call options and swaps for notional barrels of oil at fixed Dated Brent, NYMEX WTI, or Argus LLS 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 September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value (In thousands) 7.125% Senior Notes $ 644,302 $ 637,728 $ 643,524 $ 613,412 7.500% Senior Notes 444,732 436,905 — — GoM Term Loan 200,000 200,000 200,000 200,000 Corporate Revolver — — 100,000 100,000 Facility 1,150,000 1,150,000 1,200,000 1,200,000 Total $ 2,439,034 $ 2,424,633 $ 2,143,524 $ 2,113,412 The carrying values of our 7.125% Senior Notes and 7.500% Senior Notes represent the principal amounts outstanding less unamortized discounts. The fair values of our 7.125% 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, Corporate Revolver 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. As a result of the impact of COVID-19 on the demand for oil and the related significant decrease in oil prices, we reviewed our long-lived assets for impairment at March 31, 2020, which resulted in impairment charges of $150.8 million, reducing the carrying value of the properties to their estimated fair values of $243.7 million. During the fourth quarter of 2020 the Company recorded additional impairment charges totaling approximately $3.2 million resulting in impairment charges totaling $154.0 million for the year ended December 31, 2020. During the three and nine months ended September 30, 2021, the Company did not recognize impairment of proved oil and gas properties as no impairment indicators were identified. If we experience further declines in oil pricing expectations, increases in our estimated future expenditures or a decrease in our estimated production profile, our long-lived assets could be at risk of additional impairment.

Equity-based Compensation

Equity-based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Equity-based Compensation	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 $8.1 million and $8.7 million during the three months ended September 30, 2021 and 2020, respectively, and $24.0 million and $26.4 million during the nine months ended September 30, 2021 and 2020, respectively. The total tax benefit for the three months ended September 30, 2021 and 2020 was $1.5 million and $1.8 million, respectively, and $4.5 million and $5.6 million during the nine months ended September 30, 2021 and 2020, respectively. Additionally, we recorded a net tax shortfall (windfall) related to equity-based compensation of $1.5 million and $0.1 million for the three months ended September 30, 2021 and 2020, respectively, and $6.3 million and $1.2 million during the nine months ended September 30, 2021 and 2020, respectively. The fair value of awards vested during the three months ended September 30, 2021 and 2020 was $1.0 million and $0.2 million, respectively, and $9.4 million and $26.0 million during the nine months ended September 30, 2021 and 2020, 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. The following table reflects the outstanding restricted stock units as of September 30, 2021: 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, 2020 4,840 $ 5.34 7,859 $ 8.11 Granted(1) 2,856 2.56 6,727 3.91 Forfeited(1) (524) 4.05 (1,918) 5.47 Vested (2,379) 5.18 (1,371) 9.95 Outstanding at September 30, 2021 4,793 3.90 11,297 5.29 __________________________________ (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. As of September 30, 2021, total equity-based compensation to be recognized on unvested restricted stock units is $27.3 million over a weighted average period of 1.71 years. In April 2021, the board of directors approved an amendment to the LTIP to add 11.0 million shares to the plan, which was approved by our stockholders at the Annual Stockholders Meeting in June 2021. At September 30, 2021, the Company had approximately 10.8 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 $9.52 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 52.0%. 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 2.5%. For the restricted stock units awarded in 2019 and 2020, the Monte Carlo simulation model included estimated quarterly dividend inputs ranging from $0.000 to $0.050.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	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 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 (loss) before income taxes is composed of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) United States $ (19,129) $ (41,359) $ (57,769) $ (311,200) Foreign (8,847) 4,867 (141,400) (89,332) Income (loss) before income taxes $ (27,976) $ (36,492) $ (199,169) $ (400,532) For the three months ended September 30, 2021 and 2020, our effective tax rate was 2% and 2%, respectively. For the nine months ended, September 30, 2021 and 2020, our effective tax rate was 11% and 5%, respectively. For the three and nine months ended September 30, 2021 and 2020, 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 rate or where we have incurred losses and have recorded valuation allowances against the corresponding net deferred tax assets, and • Other non-deductible expenses primarily in the U.S. Additionally, for the nine months ended, September 30, 2020, our overall effective tax rate was impacted by: • $30.9 million deferred tax expense related valuation allowances on U.S. deferred tax assets recognized in prior periods, and • $4.9 million tax benefit associated with a 2018 U.S. tax loss carry back, pursuant to the Coronavirus Aid, Relief, and Economic Security ACT (“CARES ACT”), to an earlier tax year with a higher statutory tax rate.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following table is a reconciliation between net loss and the amounts used to compute basic and diluted net loss per share and the weighted average shares outstanding used to compute basic and diluted net loss per share: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands, except per share data) Numerator: Net loss allocable to common stockholders $ (28,597) $ (37,384) $ (176,552) $ (419,542) Denominator: Weighted average number of shares outstanding: Basic 408,520 405,409 408,009 405,131 Restricted stock awards and units(1) — — — — Diluted 408,520 405,409 408,009 405,131 Net loss per share: Basic $ (0.07) $ (0.09) $ (0.43) $ (1.04) Diluted $ (0.07) $ (0.09) $ (0.43) $ (1.04) __________________________________ (1) We excluded outstanding restricted stock units of 15.4 million and 11.6 million for the three months ended September 30, 2021 and 2020, respectively, and 15.0 million and 11.4 million for the nine months ended September 30, 2021 and 2020, respectively, from the computations of diluted net loss per share because the effect would have been anti-dilutive .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
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 currently have a commitment to drill one exploration well in Mauritania and a $200.2 million FPSO Contract Liability related to the deferred sale of the Greater Tortue FPSO. Performance Obligations As of September 30, 2021 and December 31, 2020, the Company had performance bonds totaling $229.3 million and $195.5 million, respectively, for our supplemental bonding requirements stipulated by the BOEM and $3.5 million and $7.1 million, respectively, 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. As of September 30, 2021 and December 31, 2020, we had zero cash collateral against these secured performance bonds. Dividends

Additional Financial Informatio

Additional Financial Information	9 Months Ended
	Sep. 30, 2021
Additional Financial Information
Additional Financial Information	Additional Financial Information Accrued Liabilities Accrued liabilities consisted of the following: September 30, December 31, (In thousands) Accrued liabilities: Exploration, development and production $ 56,941 $ 89,162 Revenue payable 20,737 15,079 Current asset retirement obligations 5,130 7,255 General and administrative expenses 19,773 4,988 Interest 34,222 23,725 Income taxes 15,443 37,344 Taxes other than income 3,765 2,815 Derivatives 19,850 17,475 Other 4,864 5,417 $ 180,725 $ 203,260 Asset Retirement Obligations The following table summarizes the changes in the Company's asset retirement obligations as of and during the nine months ended September 30, 2021: September 30, (In thousands) Asset retirement obligations: Beginning asset retirement obligations $ 251,421 Liabilities incurred during period 6,419 Liabilities settled during period (2,828) Revisions in estimated retirement obligations 445 Accretion expense 15,082 Ending asset retirement obligations $ 270,539 Other Expenses, Net Other expenses, net incurred during the period is comprised of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) (Gain) loss on disposal of inventory $ (280) $ 1,200 $ 302 $ 3,028 (Gain) loss on asset retirement obligations liability settlements 58 (170) 444 1,952 Restructuring charges (127) (72) 710 13,268 Other, net 543 1,847 (453) 9,714 Other expenses, net $ 194 $ 2,805 $ 1,003 $ 27,962 The restructuring charges are for employee severance and related benefit costs incurred as part of a corporate reorganization.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information Kosmos is engaged in a single line of business, which is the exploration, development and production of oil and gas. At September 30, 2021, 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 September 30, 2021 Revenues and other income: Oil and gas revenue $ 67,247 $ 35,063 $ — $ 96,626 $ — $ — $ 198,936 Gain on sale of assets — — — — 1,538 — 1,538 Other income, net — — — 256 65,941 (66,131) 66 Total revenues and other income 67,247 35,063 — 96,882 67,479 (66,131) 200,540 Costs and expenses: Oil and gas production 10,490 13,029 — 26,797 — — 50,316 Facilities insurance modifications, net 1,555 — — — (1) — 1,554 Exploration expenses 89 2,089 7,081 13,975 748 — 23,982 General and administrative 3,165 581 2,980 4,177 39,464 (27,908) 22,459 Depletion, depreciation and amortization 20,958 5,999 15 37,551 391 — 64,914 Impairment of long-lived assets — — — — — — — Interest and other financing costs, net(1) 16,836 (446) (11,604) 3,446 18,641 — 26,873 Derivatives, net — — — — 38,224 — 38,224 Other expenses, net 34,382 3,229 (106) 648 265 (38,224) 194 Total costs and expenses 87,475 24,481 (1,634) 86,594 97,732 (66,132) 228,516 Loss before income taxes (20,228) 10,582 1,634 10,288 (30,253) 1 (27,976) Income tax expense (benefit) (6,782) 5,758 — — 1,645 — 621 Net loss $ (13,446) $ 4,824 $ 1,634 $ 10,288 $ (31,898) $ 1 $ (28,597) Consolidated capital expenditures $ 30,935 $ 20,351 $ 13,734 $ 21,188 $ (162) $ — $ 86,046 Ghana Equatorial Guinea Mauritania/Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (In thousands) Nine months ended September 30, 2021 Revenues and other income: Oil and gas revenue $ 313,126 $ 147,424 $ — $ 298,905 $ — $ — $ 759,455 Gain on sale of assets — — — — 1,564 — 1,564 Other income, net 1 — — 1,028 347,866 (348,685) 210 Total revenues and other income 313,127 147,424 — 299,933 349,430 (348,685) 761,229 Costs and expenses: Oil and gas production 80,189 56,373 — 75,309 — — 211,871 Facilities insurance modifications, net 3,495 — — — — — 3,495 Exploration expenses 164 4,666 10,812 20,541 5,269 — 41,452 General and administrative 8,636 2,883 7,677 12,620 129,108 (94,296) 66,628 Depletion, depreciation and amortization 132,232 34,474 46 124,598 1,266 — 292,616 Impairment of long-lived assets — — — — — — — Interest and other financing costs, net(1) 36,890 (1,218) (33,816) 12,307 78,348 (1,784) 90,727 Derivatives, net — — — — 252,606 — 252,606 Other expenses, net 193,370 34,096 (2,348) 26,185 2,306 (252,606) 1,003 Total costs and expenses 454,976 131,274 (17,629) 271,560 468,903 (348,686) 960,398 Loss before income taxes (141,849) 16,150 17,629 28,373 (119,473) 1 (199,169) Income tax expense (benefit) (48,770) 19,957 — — 6,196 — (22,617) Net loss $ (93,079) $ (3,807) $ 17,629 $ 28,373 $ (125,669) $ 1 $ (176,552) Consolidated capital expenditures $ 61,570 $ 51,444 $ 169,158 $ 65,674 $ 5,564 $ — $ 353,410 As of September 30, 2021 Property and equipment, net $ 1,226,513 $ 447,795 $ 822,013 $ 925,384 $ 21,192 $ — $ 3,442,897 Total assets $ 1,297,303 $ 854,530 $ 1,329,267 $ 3,216,368 $ 14,315,531 $ (16,859,275) $ 4,153,724 ______________________________________ (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 Equatorial Guinea Mauritania/Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (In thousands) Three months ended September 30, 2020 Revenues and other income: Oil and gas revenue $ 125,636 $ 43,530 $ — $ 55,620 $ — $ — $ 224,786 Gain on sale of assets — — — — — — — Other income, net 1 — — 37 33,003 (33,040) 1 Total revenues and other income 125,637 43,530 — 55,657 33,003 (33,040) 224,787 Costs and expenses: Oil and gas production 48,709 14,072 — 21,496 — — 84,277 Facilities insurance modifications, net 2,465 — — — — — 2,465 Exploration expenses 48 1,561 806 5,485 6,077 — 13,977 General and administrative 3,101 1,017 1,168 3,580 39,472 (30,069) 18,269 Depletion, depreciation and amortization 63,487 15,421 15 31,499 809 — 111,231 Impairment of long-lived assets — — — — — — — Interest and other financing costs, net(1) 13,117 (344) (6,607) 4,372 18,314 (1,784) 27,068 Derivatives, net — — — — 1,187 — 1,187 Other expenses, net (1,818) 384 658 3,250 1,518 (1,187) 2,805 Total costs and expenses 129,109 32,111 (3,960) 69,682 67,377 (33,040) 261,279 Income (loss) before income taxes (3,472) 11,419 3,960 (14,025) (34,374) — (36,492) Income tax expense (benefit) (849) 7,048 — — (5,307) — 892 Net income (loss) $ (2,623) $ 4,371 $ 3,960 $ (14,025) $ (29,067) $ — $ (37,384) Consolidated capital expenditures $ 6,116 $ 9,853 $ 46,574 $ 30,677 $ 6,287 $ — $ 99,507 Ghana Equatorial Guinea Mauritania/Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (In thousands) Nine months ended September 30, 2020 Revenues and other income: Oil and gas revenue $ 236,536 $ 95,050 $ — $ 198,294 $ — $ — $ 529,880 Gain on sale of assets — — — — — — — Other income, net 2 — — 488 42,258 (42,746) 2 Total revenues and other income 236,538 95,050 — 198,782 42,258 (42,746) 529,882 Costs and expenses: Oil and gas production 113,319 50,961 — 70,347 — — 234,627 Facilities insurance modifications, net 10,555 — — — — — 10,555 Exploration expenses 146 6,397 5,265 26,046 36,439 — 74,293 General and administrative 10,123 3,977 5,453 10,433 99,551 (72,171) 57,366 Depletion, depreciation and amortization 148,135 43,724 46 132,213 2,272 — 326,390 Impairment of long-lived assets — — — 150,820 — — 150,820 Interest and other financing costs, net(1) 41,270 (1,044) (19,455) 12,052 55,705 (5,351) 83,177 Derivatives, net — — — — (34,776) — (34,776) Other expenses, net (64,142) (8,993) 3,129 46,995 16,197 34,776 27,962 Total costs and expenses 259,406 95,022 (5,562) 448,906 175,388 (42,746) 930,414 Income (loss) before income taxes (22,868) 28 5,562 (250,124) (133,130) — (400,532) Income tax expense (benefit) (6,679) (1,622) — 30,902 (3,591) — 19,010 Net income (loss) $ (16,189) $ 1,650 $ 5,562 $ (281,026) $ (129,539) $ — $ (419,542) Consolidated capital expenditures $ 31,192 $ 25,959 $ 51,897 $ 109,228 $ 32,082 $ — $ 250,358 As of September 30, 2020 Property and equipment, net $ 1,373,126 $ 449,020 $ 502,355 $ 1,015,905 $ 25,898 $ — $ 3,366,304 Total assets $ 1,511,667 $ 708,614 $ 717,323 $ 3,221,915 $ 12,782,894 $ (14,848,912) $ 4,093,501 ______________________________________ (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. Nine Months Ended September 30, 2021 2020 (In thousands) Consolidated capital expenditures: Consolidated Statements of Cash Flows - Investing activities: Oil and gas assets $ 377,125 $ 215,425 Other property 725 1,838 Adjustments: Changes in capital accruals (16,523) (6,284) Exploration expense, excluding unsuccessful well costs and leasehold impairments(1) 24,680 49,955 Capitalized interest (31,956) (18,062) Proceeds on sale of assets (3,395) — Other 2,754 7,486 Total consolidated capital expenditures $ 353,410 $ 250,358 ______________________________________ (1) Unsuccessful well costs are included in oil and gas assets when incurred.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In October 2021, Kosmos completed the acquisition of Anadarko WCTP Company (“Anadarko WCTP”), a subsidiary of Occidental Petroleum Corporation, which owns a participating interest in the WCTP Block and DT Block offshore Ghana, including an 18.0% participating interest in the Jubilee Unit Area and an 11.1% participating interest in the TEN fields. In consideration for the acquisition, Kosmos paid approximately $460.0 million in cash based on an initial purchase price of $550.6 million reduced by certain purchase price adjustments totaling $94.7 million. Following closing of the Acquisition, Kosmos’ interest in the Jubilee Unit Area increased from 24.1% to 42.1%, and Kosmos’ interest in the TEN fields increased from 17.0% to 28.1%. Kosmos initially funded the purchase price through the issuance of $400.0 million aggregate principal amount of floating rate senior notes due 2022 (the “Bridge Notes”) and $75.0 million of borrowings under Kosmos' Facility. Kosmos then refinanced the Bridge Notes in full with the proceeds from the issuance of $400.0 million of 7.750% Senior Notes due 2027 and cash on hand. Kosmos also received $136.6 million in proceeds from a public issuance of 43.1 million shares of Kosmos’ common stock with plans to use the proceeds to repay outstanding borrowings under the Facility during the fourth quarter of 2021.

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
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, 2020, included in our annual report on Form 10-K.
Reclassifications	Reclassifications
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. When our net leverage ratio exceeds 2.50x, we are required under the Facility to maintain a restricted cash balance that is sufficient to meet the payment of interest and fees for the next six-month period on the 7.125% Senior Notes and the 7.500% Senior Notes plus the Corporate Revolver or the Facility, whichever is greater. As of September 30, 2021 we have restricted cash of approximately $42.9 million to meet our requirements.
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 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 available, we believe that the loss of our marketing agents and/or any of the purchasers identified by our marketing agents would not have a long‑term material adverse effect on our financial position or results of operations. The continued economic disruption resulting from the COVID-19 pandemic could materially impact the Company’s business in future periods. Any potential disruption will depend on the duration and intensity of these events, which are highly uncertain and cannot be predicted at this time.
Recent Accounting Standards	Recent Accounting Standards In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes”. Our adoption of ASU 2019-12 on January 1, 2021, did not have a material impact on our income tax expense.

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of cash and cash equivalents	September 30, December 31, (In thousands) Cash and cash equivalents $ 111,329 $ 149,027 Restricted cash - current 43,208 195 Restricted cash - long-term 305 542 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 154,842 $ 149,764
Schedule of restricted cash	September 30, December 31, (In thousands) Cash and cash equivalents $ 111,329 $ 149,027 Restricted cash - current 43,208 195 Restricted cash - long-term 305 542 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 154,842 $ 149,764
Schedule of oil and gas revenue	Oil and gas revenue is composed of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Revenues from contract with customer - Equatorial Guinea $ 34,247 $ 43,003 $ 145,378 $ 95,520 Revenues from contract with customer - Ghana 65,969 124,436 321,855 238,686 Revenues from contract with customers - U.S. Gulf of Mexico 96,626 55,620 298,905 198,294 Provisional oil sales contracts 2,094 1,727 (6,683) (2,620) Oil and gas revenue $ 198,936 $ 224,786 $ 759,455 $ 529,880

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment is stated at cost and consisted of the following: September 30, December 31, (In thousands) Oil and gas properties: Proved properties $ 5,751,720 $ 5,369,737 Unproved properties 515,499 495,390 Total oil and gas properties 6,267,219 5,865,127 Accumulated depletion (2,831,835) (2,554,851) Oil and gas properties, net 3,435,384 3,310,276 Other property 58,541 59,949 Accumulated depreciation (51,028) (49,312) Other property, net 7,513 10,637 Property and equipment, net $ 3,442,897 $ 3,320,913

Suspended Well Costs (Tables)

Suspended Well Costs (Tables)	9 Months Ended
	Sep. 30, 2021
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 nine months ended September 30, 2021. September 30, (In thousands) Beginning balance $ 186,289 Additions to capitalized exploratory well costs pending the determination of proved reserves 20,257 Reclassification due to determination of proved reserves (201) Capitalized exploratory well costs charged to expense — Ending balance $ 206,345
Schedule of aging of capitalized exploratory well costs and number of projects for which exploratory well costs were capitalized for more than one year	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: September 30, December 31, (In thousands, except well counts) Exploratory well costs capitalized for a period of one year or less $ 11,393 $ — Exploratory well costs capitalized for a period of one to two years 30,684 28,692 Exploratory well costs capitalized for a period of three to five years 164,268 157,597 Ending balance $ 206,345 $ 186,289 Number of projects that have exploratory well costs that have been capitalized for a period greater than one year 3 3

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of debt	September 30, December 31, (In thousands) Outstanding debt principal balances: Facility $ 1,150,000 $ 1,200,000 Corporate Revolver — 100,000 7.125% Senior Notes 650,000 650,000 7.500% Senior Notes 450,000 — GoM Term Loan 200,000 200,000 Total 2,450,000 2,150,000 Unamortized deferred financing costs and discounts (51,760) (38,569) Total debt, net 2,398,240 2,111,431 Less: Current maturities of long-term debt (30,000) (7,500) Long-term debt, net $ 2,368,240 $ 2,103,931
Schedule of redemption price	On or after March 1, 2024, the Company may redeem all or a part of the 7.500% Senior Notes at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest: Year Percentage On or after March 1, 2024, but before February 28, 2025 103.750 % On or after March 1, 2025, but before February 28, 2026 101.875 % On or after March 1, 2026 and thereafter 100.000 %
Schedule of estimated repayments of debt	At September 30, 2021, the estimated repayments of debt during the five fiscal year periods and thereafter are as follows: Payments Due by Year Total 2021(2) 2022 2023 2024 2025 Thereafter (In thousands) Principal debt repayments(1) $ 2,450,000 $ 7,500 $ 30,000 $ 142,621 $ 237,834 $ 402,692 $ 1,629,353 __________________________________ (1) Includes the scheduled principal maturities for the $650.0 million aggregate principal amount of the 7.125% Senior Notes, the $450.0 million aggregate principal amount of the 7.500% Senior Notes and borrowings under the Facility, Corporate Revolver and GoM Term Loan. The scheduled maturities of debt related to the Facility as of September 30, 2021 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 October 1, 2021 through December 31, 2021.
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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Interest expense $ 36,055 $ 29,760 $ 103,229 $ 90,031 Amortization—deferred financing costs 2,597 2,255 7,788 6,730 Loss on extinguishment of debt — 678 15,223 2,893 Capitalized interest (12,252) (5,806) (31,956) (18,062) Deferred interest (600) 531 (724) 2,028 Interest income (2,237) (1,269) (8,309) (3,371) Other, net 3,310 919 5,476 2,928 Interest and other financing costs, net $ 26,873 $ 27,068 $ 90,727 $ 83,177

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021. 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) Swap Put Floor Ceiling 2021: Oct — Dec Swaps with sold puts Dated Brent 1,500 $ — $ 53.96 $ 42.92 $ — $ — Oct — Dec Three-way collars Dated Brent 750 0.45 — 32.50 40.00 53.47 Oct — Dec Three-way collars NYMEX WTI 250 1.00 — 37.50 45.00 55.00 Oct — Dec Sold calls(1) Dated Brent 1,750 — — — — 70.09 2022: Jan — Dec Three-way collars Dated Brent 4,500 0.64 — 43.33 56.67 76.91 Jan — Dec Two-way collars Dated Brent 3,000 1.26 — — 55.00 76.67 Jan — Dec Sold calls(1) Dated Brent 1,581 — — — — 60.00 __________________________________
Schedule of derivative instruments by balance sheet location	The following tables disclose the Company’s derivative instruments as of September 30, 2021 and December 31, 2020, and gain/(loss) from derivatives during the three and nine months ended September 30, 2021 and 2020, respectively: Estimated Fair Value Asset (Liability) Type of Contract Balance Sheet Location September 30, December 31, (In thousands) Derivatives not designated as hedging instruments: Derivative assets: Commodity Derivatives assets—current $ — $ 15,414 Provisional oil sales Receivables: Oil Sales — (677) Commodity Derivatives assets—long-term — 964 Derivative liabilities: Commodity Derivatives liabilities—current (107,863) (28,009) Commodity Derivatives liabilities—long-term (21,548) (8,069) Total derivatives not designated as hedging instruments $ (129,411) $ (20,377)
Schedule of derivative instruments by location of gain/(loss)	Amount of Gain/(Loss) Amount of Gain/(Loss) Three Months Ended Nine Months Ended September 30, September 30, Type of Contract Location of Gain/(Loss) 2021 2020 2021 2020 (In thousands) Derivatives not designated as hedging instruments: Provisional oil sales Oil and gas revenue $ 2,094 $ 1,727 $ (6,683) $ (2,620) Commodity Derivatives, net (38,224) (1,187) (252,606) 34,776 Total derivatives not designated as hedging instruments $ (36,130) $ 540 $ (259,289) $ 32,156

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of company's assets and liabilities that are measured at fair value on a recurring basis	The following tables present the Company’s assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020, 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) September 30, 2021 Assets: Commodity derivatives $ — $ — $ — $ — Provisional oil sales — — — — Liabilities: Commodity derivatives — (129,411) — (129,411) Total $ — $ (129,411) $ — $ (129,411) December 31, 2020 Assets: Commodity derivatives $ — $ 16,378 $ — $ 16,378 Provisional oil sales — (677) — (677) Liabilities: Commodity derivatives — (36,078) — (36,078) Total $ — $ (20,377) $ — $ (20,377)
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 September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value (In thousands) 7.125% Senior Notes $ 644,302 $ 637,728 $ 643,524 $ 613,412 7.500% Senior Notes 444,732 436,905 — — GoM Term Loan 200,000 200,000 200,000 200,000 Corporate Revolver — — 100,000 100,000 Facility 1,150,000 1,150,000 1,200,000 1,200,000 Total $ 2,439,034 $ 2,424,633 $ 2,143,524 $ 2,113,412

Equity-based Compensation (Tabl

Equity-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of plan activity	The following table reflects the outstanding restricted stock units as of September 30, 2021: 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, 2020 4,840 $ 5.34 7,859 $ 8.11 Granted(1) 2,856 2.56 6,727 3.91 Forfeited(1) (524) 4.05 (1,918) 5.47 Vested (2,379) 5.18 (1,371) 9.95 Outstanding at September 30, 2021 4,793 3.90 11,297 5.29 __________________________________ (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.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of components of income (loss) before income taxes	Income (loss) before income taxes is composed of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) United States $ (19,129) $ (41,359) $ (57,769) $ (311,200) Foreign (8,847) 4,867 (141,400) (89,332) Income (loss) before income taxes $ (27,976) $ (36,492) $ (199,169) $ (400,532)

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of reconciliation between net loss and amounts used to compute basic and diluted EPS	The following table is a reconciliation between net loss and the amounts used to compute basic and diluted net loss per share and the weighted average shares outstanding used to compute basic and diluted net loss per share: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands, except per share data) Numerator: Net loss allocable to common stockholders $ (28,597) $ (37,384) $ (176,552) $ (419,542) Denominator: Weighted average number of shares outstanding: Basic 408,520 405,409 408,009 405,131 Restricted stock awards and units(1) — — — — Diluted 408,520 405,409 408,009 405,131 Net loss per share: Basic $ (0.07) $ (0.09) $ (0.43) $ (1.04) Diluted $ (0.07) $ (0.09) $ (0.43) $ (1.04) __________________________________ (1) We excluded outstanding restricted stock units of 15.4 million and 11.6 million for the three months ended September 30, 2021 and 2020, respectively, and 15.0 million and 11.4 million for the nine months ended September 30, 2021 and 2020, respectively, from the computations of diluted net loss per share because the effect would have been anti-dilutive .

Additional Financial Informat_2

Additional Financial Information (Tables)	9 Months Ended
	Sep. 30, 2021
Additional Financial Information
Schedule of accrued liabilities	Accrued liabilities consisted of the following: September 30, December 31, (In thousands) Accrued liabilities: Exploration, development and production $ 56,941 $ 89,162 Revenue payable 20,737 15,079 Current asset retirement obligations 5,130 7,255 General and administrative expenses 19,773 4,988 Interest 34,222 23,725 Income taxes 15,443 37,344 Taxes other than income 3,765 2,815 Derivatives 19,850 17,475 Other 4,864 5,417 $ 180,725 $ 203,260
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 nine months ended September 30, 2021: September 30, (In thousands) Asset retirement obligations: Beginning asset retirement obligations $ 251,421 Liabilities incurred during period 6,419 Liabilities settled during period (2,828) Revisions in estimated retirement obligations 445 Accretion expense 15,082 Ending asset retirement obligations $ 270,539
Schedule of other expenses, net incurred	Other expenses, net incurred during the period is comprised of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) (Gain) loss on disposal of inventory $ (280) $ 1,200 $ 302 $ 3,028 (Gain) loss on asset retirement obligations liability settlements 58 (170) 444 1,952 Restructuring charges (127) (72) 710 13,268 Other, net 543 1,847 (453) 9,714 Other expenses, net $ 194 $ 2,805 $ 1,003 $ 27,962

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021 Revenues and other income: Oil and gas revenue $ 67,247 $ 35,063 $ — $ 96,626 $ — $ — $ 198,936 Gain on sale of assets — — — — 1,538 — 1,538 Other income, net — — — 256 65,941 (66,131) 66 Total revenues and other income 67,247 35,063 — 96,882 67,479 (66,131) 200,540 Costs and expenses: Oil and gas production 10,490 13,029 — 26,797 — — 50,316 Facilities insurance modifications, net 1,555 — — — (1) — 1,554 Exploration expenses 89 2,089 7,081 13,975 748 — 23,982 General and administrative 3,165 581 2,980 4,177 39,464 (27,908) 22,459 Depletion, depreciation and amortization 20,958 5,999 15 37,551 391 — 64,914 Impairment of long-lived assets — — — — — — — Interest and other financing costs, net(1) 16,836 (446) (11,604) 3,446 18,641 — 26,873 Derivatives, net — — — — 38,224 — 38,224 Other expenses, net 34,382 3,229 (106) 648 265 (38,224) 194 Total costs and expenses 87,475 24,481 (1,634) 86,594 97,732 (66,132) 228,516 Loss before income taxes (20,228) 10,582 1,634 10,288 (30,253) 1 (27,976) Income tax expense (benefit) (6,782) 5,758 — — 1,645 — 621 Net loss $ (13,446) $ 4,824 $ 1,634 $ 10,288 $ (31,898) $ 1 $ (28,597) Consolidated capital expenditures $ 30,935 $ 20,351 $ 13,734 $ 21,188 $ (162) $ — $ 86,046 Ghana Equatorial Guinea Mauritania/Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (In thousands) Nine months ended September 30, 2021 Revenues and other income: Oil and gas revenue $ 313,126 $ 147,424 $ — $ 298,905 $ — $ — $ 759,455 Gain on sale of assets — — — — 1,564 — 1,564 Other income, net 1 — — 1,028 347,866 (348,685) 210 Total revenues and other income 313,127 147,424 — 299,933 349,430 (348,685) 761,229 Costs and expenses: Oil and gas production 80,189 56,373 — 75,309 — — 211,871 Facilities insurance modifications, net 3,495 — — — — — 3,495 Exploration expenses 164 4,666 10,812 20,541 5,269 — 41,452 General and administrative 8,636 2,883 7,677 12,620 129,108 (94,296) 66,628 Depletion, depreciation and amortization 132,232 34,474 46 124,598 1,266 — 292,616 Impairment of long-lived assets — — — — — — — Interest and other financing costs, net(1) 36,890 (1,218) (33,816) 12,307 78,348 (1,784) 90,727 Derivatives, net — — — — 252,606 — 252,606 Other expenses, net 193,370 34,096 (2,348) 26,185 2,306 (252,606) 1,003 Total costs and expenses 454,976 131,274 (17,629) 271,560 468,903 (348,686) 960,398 Loss before income taxes (141,849) 16,150 17,629 28,373 (119,473) 1 (199,169) Income tax expense (benefit) (48,770) 19,957 — — 6,196 — (22,617) Net loss $ (93,079) $ (3,807) $ 17,629 $ 28,373 $ (125,669) $ 1 $ (176,552) Consolidated capital expenditures $ 61,570 $ 51,444 $ 169,158 $ 65,674 $ 5,564 $ — $ 353,410 As of September 30, 2021 Property and equipment, net $ 1,226,513 $ 447,795 $ 822,013 $ 925,384 $ 21,192 $ — $ 3,442,897 Total assets $ 1,297,303 $ 854,530 $ 1,329,267 $ 3,216,368 $ 14,315,531 $ (16,859,275) $ 4,153,724 ______________________________________ (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 Equatorial Guinea Mauritania/Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (In thousands) Three months ended September 30, 2020 Revenues and other income: Oil and gas revenue $ 125,636 $ 43,530 $ — $ 55,620 $ — $ — $ 224,786 Gain on sale of assets — — — — — — — Other income, net 1 — — 37 33,003 (33,040) 1 Total revenues and other income 125,637 43,530 — 55,657 33,003 (33,040) 224,787 Costs and expenses: Oil and gas production 48,709 14,072 — 21,496 — — 84,277 Facilities insurance modifications, net 2,465 — — — — — 2,465 Exploration expenses 48 1,561 806 5,485 6,077 — 13,977 General and administrative 3,101 1,017 1,168 3,580 39,472 (30,069) 18,269 Depletion, depreciation and amortization 63,487 15,421 15 31,499 809 — 111,231 Impairment of long-lived assets — — — — — — — Interest and other financing costs, net(1) 13,117 (344) (6,607) 4,372 18,314 (1,784) 27,068 Derivatives, net — — — — 1,187 — 1,187 Other expenses, net (1,818) 384 658 3,250 1,518 (1,187) 2,805 Total costs and expenses 129,109 32,111 (3,960) 69,682 67,377 (33,040) 261,279 Income (loss) before income taxes (3,472) 11,419 3,960 (14,025) (34,374) — (36,492) Income tax expense (benefit) (849) 7,048 — — (5,307) — 892 Net income (loss) $ (2,623) $ 4,371 $ 3,960 $ (14,025) $ (29,067) $ — $ (37,384) Consolidated capital expenditures $ 6,116 $ 9,853 $ 46,574 $ 30,677 $ 6,287 $ — $ 99,507 Ghana Equatorial Guinea Mauritania/Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (In thousands) Nine months ended September 30, 2020 Revenues and other income: Oil and gas revenue $ 236,536 $ 95,050 $ — $ 198,294 $ — $ — $ 529,880 Gain on sale of assets — — — — — — — Other income, net 2 — — 488 42,258 (42,746) 2 Total revenues and other income 236,538 95,050 — 198,782 42,258 (42,746) 529,882 Costs and expenses: Oil and gas production 113,319 50,961 — 70,347 — — 234,627 Facilities insurance modifications, net 10,555 — — — — — 10,555 Exploration expenses 146 6,397 5,265 26,046 36,439 — 74,293 General and administrative 10,123 3,977 5,453 10,433 99,551 (72,171) 57,366 Depletion, depreciation and amortization 148,135 43,724 46 132,213 2,272 — 326,390 Impairment of long-lived assets — — — 150,820 — — 150,820 Interest and other financing costs, net(1) 41,270 (1,044) (19,455) 12,052 55,705 (5,351) 83,177 Derivatives, net — — — — (34,776) — (34,776) Other expenses, net (64,142) (8,993) 3,129 46,995 16,197 34,776 27,962 Total costs and expenses 259,406 95,022 (5,562) 448,906 175,388 (42,746) 930,414 Income (loss) before income taxes (22,868) 28 5,562 (250,124) (133,130) — (400,532) Income tax expense (benefit) (6,679) (1,622) — 30,902 (3,591) — 19,010 Net income (loss) $ (16,189) $ 1,650 $ 5,562 $ (281,026) $ (129,539) $ — $ (419,542) Consolidated capital expenditures $ 31,192 $ 25,959 $ 51,897 $ 109,228 $ 32,082 $ — $ 250,358 As of September 30, 2020 Property and equipment, net $ 1,373,126 $ 449,020 $ 502,355 $ 1,015,905 $ 25,898 $ — $ 3,366,304 Total assets $ 1,511,667 $ 708,614 $ 717,323 $ 3,221,915 $ 12,782,894 $ (14,848,912) $ 4,093,501 ______________________________________ (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. Nine Months Ended September 30, 2021 2020 (In thousands) Consolidated capital expenditures: Consolidated Statements of Cash Flows - Investing activities: Oil and gas assets $ 377,125 $ 215,425 Other property 725 1,838 Adjustments: Changes in capital accruals (16,523) (6,284) Exploration expense, excluding unsuccessful well costs and leasehold impairments(1) 24,680 49,955 Capitalized interest (31,956) (18,062) Proceeds on sale of assets (3,395) — Other 2,754 7,486 Total consolidated capital expenditures $ 353,410 $ 250,358 ______________________________________ (1) Unsuccessful well costs are included in oil and gas assets when incurred.

Organization (Details)

Organization (Details)	9 Months Ended
	Sep. 30, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	4

Accounting Policies - Cash and

Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 111,329	$ 149,027
Restricted cash	43,208	195
Restricted cash - long-term	305	542
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$ 154,842	$ 149,764	$ 302,188	$ 229,346

Accounting Policies - Narrative

Accounting Policies - Narratives (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)	Jul. 01, 2021	Mar. 31, 2021	Dec. 31, 2020USD ($)	Apr. 30, 2019
Restricted Cash
Restricted cash	$ 43,208			$ 195
Materials and supplies inventory	127,900			127,500
Hydrocarbons inventory	$ 25,100			$ 1,500
Facility
Restricted Cash
Net leverage ratio	2.50
Facility Interest Or Senior Notes Plus The Corporate Revolver
Restricted Cash
Period for contractual future payments	6 months
Restricted cash	$ 42,900
7.125% Senior Notes | Senior Notes
Restricted Cash
Interest rate	7.125%	7.125%			7.125%
7.500% Senior Notes | Senior Notes
Restricted Cash
Interest rate	7.50%		7.50%

Accounting Policies - Summary o

Accounting Policies - Summary of Oil and Gas Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Provisional oil sales contracts	$ (36,130)	$ 540	$ (259,289)	$ 32,156
Oil and gas revenue	198,936	224,786	759,455	529,880
Oil and gas revenue
Disaggregation of Revenue [Line Items]
Provisional oil sales contracts	2,094	1,727	(6,683)	(2,620)
Oil and gas revenue	198,936	224,786	759,455	529,880
Equatorial Guinea
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	34,247	43,003	145,378	95,520
Ghana
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	65,969	124,436	321,855	238,686
U.S. Gulf of Mexico
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 96,626	$ 55,620	$ 298,905	$ 198,294

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)paymentwell	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)paymentwell
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Proceeds on sale of assets				$ 5,327	$ 1,713
Gain on sale of assets	$ 1,538		$ 0	$ 1,564	0
Farm Down Agreement | Blocks Offshore Sao Tome And Principe, Suriname, Namibia, And South Africa
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Amount of cash consideration received for frontier exploration portfolio			96,000		96,000
Farm Down Agreement | Blocks Offshore Sao Tome and Principe Suriname and Namibia
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Future contingent consideration			$ 50,000		$ 50,000
Proceeds on sale of assets		$ 95,000
Gain on sale of assets		$ 92,100
Number of wells | well			4		4
Number of payments | payment			2		2
Farm Down Agreement | Blocks Offshore Sao Tome and Principe Suriname and Namibia | Maximum
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Future contingent consideration			$ 100,000		$ 100,000
Farm Down Agreement | Block South Africa
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Proceeds on sale of assets	$ 1,000

Joint Interest Billings and L_2

Joint Interest Billings and Long-term Receivables (Details) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Feb. 28, 2019USD ($)agreement	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Aug. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Oil and Gas Joint Interest Billing Receivables [Line Items]
Joint interest billings, net		$ 26,147	$ 26,147		$ 26,002
Long-term receivables		271,295	271,295		117,497
BP Operator
Oil and Gas Joint Interest Billing Receivables [Line Items]
Long-term investments and receivables, net				$ 200,200
Settlement of payment obligation of capital expenditures		51,200
Settlement of accounts payable		42,700
National Oil Companies of Mauritania And Senegal | Carry Advance Agreements
Oil and Gas Joint Interest Billing Receivables [Line Items]
Long-term receivables		143,400	143,400		96,300
Number of agreements | agreement	2
Share of development costs to be financed, up to	$ 239,700
Greater Tortue FPSO | BP Operator
Oil and Gas Joint Interest Billing Receivables [Line Items]
Contract liability, noncurrent		200,200	200,200	$ 200,200
TEN Discoveries | GNPC
Oil and Gas Joint Interest Billing Receivables [Line Items]
Joint interest billings, net		5,800	5,800		5,800
Long-term receivables		$ 21,600	$ 21,600		$ 21,200
GNPC | TEN Discoveries
Oil and Gas Joint Interest Billing Receivables [Line Items]
GNPC's paying interest			5.00%

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Oil and gas properties:
Proved properties	$ 5,751,720	$ 5,369,737		$ 5,751,720		$ 5,369,737
Unproved properties	515,499	495,390		515,499		495,390
Total oil and gas properties	6,267,219	5,865,127		6,267,219		5,865,127
Accumulated depletion	(2,831,835)	(2,554,851)		(2,831,835)		(2,554,851)
Oil and gas properties, net	3,435,384	3,310,276		3,435,384		3,310,276
Other property	58,541	59,949		58,541		59,949
Accumulated depreciation	(51,028)	(49,312)		(51,028)		(49,312)
Other property, net	7,513	10,637		7,513		10,637
Property and equipment, net	3,442,897	3,320,913	$ 3,366,304	3,442,897	$ 3,366,304	3,320,913
Depletion expense	58,800		104,900	274,600	307,800
Impairment of long-lived assets	$ 0	$ 3,200	$ 0	$ 0	$ 150,820	$ 154,000

Suspended Well Costs - Summary

Suspended Well Costs - Summary of Suspended Well Costs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)project	Dec. 31, 2020USD ($)project
Reconciliation of capitalized exploratory well costs on completed wells
Beginning balance	$ 186,289
Additions to capitalized exploratory well costs pending the determination of proved reserves	20,257
Reclassification due to determination of proved reserves	(201)
Capitalized exploratory well costs charged to expense	0
Ending balance	206,345
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	11,393	$ 0
Exploratory well costs capitalized for a period of one to two years	30,684	28,692
Exploratory well costs capitalized for a period of three to five years	164,268	157,597
Ending balance	$ 206,345	$ 186,289
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year | project	3	3

Suspended Well Costs - Narrativ

Suspended Well Costs - Narrative (Details)	1 Months Ended
	Sep. 30, 2019km
Yakaar and Teranga Discoveries
Capitalized Contract Cost [Line Items]
Distance from Yakaar-2 well to Yakaar-1 exploration well	9

Debt - Schedule of Instruments

Debt - Schedule of Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jul. 01, 2021	Mar. 31, 2021	Dec. 31, 2020	Apr. 30, 2019
Line of Credit Facility [Line Items]
Total debt, gross	$ 2,450,000			$ 2,150,000
Unamortized deferred financing costs and discounts	(51,760)			(38,569)
Total debt, net	2,398,240			2,111,431
Less: Current maturities of long-term debt	(30,000)			(7,500)
Long-term debt, net	2,368,240			2,103,931
Facility | Revolving credit facility
Line of Credit Facility [Line Items]
Total debt, gross	1,150,000			1,200,000
Corporate Revolver | Revolving credit facility
Line of Credit Facility [Line Items]
Total debt, gross	$ 0			100,000
7.125% Senior Notes | Senior Notes
Line of Credit Facility [Line Items]
Interest rate	7.125%	7.125%			7.125%
Total debt, gross	$ 650,000			650,000
7.500% Senior Notes | Senior Notes
Line of Credit Facility [Line Items]
Interest rate	7.50%		7.50%
Total debt, gross	$ 450,000			0
GoM Term Loan | Secured Debt
Line of Credit Facility [Line Items]
Total debt, gross	$ 200,000			$ 200,000

Debt - Facility (Details)

Debt - Facility (Details) $ in Thousands

Mar. 31, 2024

May 31, 2021USD ($)

Jul. 31, 2020

Sep. 30, 2021USD ($)

Jun. 30, 2021USD ($)

Sep. 30, 2020USD ($)

Sep. 30, 2021USD ($)

Sep. 30, 2020USD ($)

Jul. 01, 2021

Mar. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Apr. 30, 2019

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 0

$ (678)

$ (15,223)

$ (2,893)

Restricted cash

$ 43,208

$ 43,208

$ 195

Facility

Debt Instrument [Line Items]

Net leverage ratio

2.50

2.50

Facility Interest Or Senior Notes Plus The Corporate Revolver

Debt Instrument [Line Items]

Period for contractual future payments

6 months

Restricted cash

$ 42,900

$ 42,900

7.125% Senior Notes | Senior Notes

Debt Instrument [Line Items]

Interest rate

7.125%

7.125%

7.125%

7.125%

7.500% Senior Notes | Senior Notes

Debt Instrument [Line Items]

Interest rate

7.50%

7.50%

7.50%

Revolving credit facility | Facility

Debt Instrument [Line Items]

Amount outstanding

$ 1,150,000

$ 1,150,000

Undrawn availability

85,200

85,200

Extension period

2 years

Frequency period of amortization of principal

6 months

Increase in margin

0.50%

Period for contractual future payments, applicable interest margin

3 years

Loan life coverage ratio

1.10

Maximum borrowing capacity

$ 1,250,000

$ 1,250,000

$ 1,250,000

$ 1,500,000

Available borrowing base

$ 1,240,000

Loss on extinguishment of debt

$ 15,200

Revolving credit facility | Facility | Forecast

Debt Instrument [Line Items]

Loan life coverage ratio

1.30

Revolving credit facility | Facility | London Interbank Offered Rate (LIBOR)

Debt Instrument [Line Items]

Applicable margin

3.75%

Revolving credit facility | Facility | Stated Period

Debt Instrument [Line Items]

Debt cover ratio

4.75

Revolving credit facility | Facility | Normal Period

Debt Instrument [Line Items]

Debt cover ratio

3.5

Debt - Corporate Revolver (Deta

Debt - Corporate Revolver (Details) - Corporate Revolver - Revolving credit facility	1 Months Ended
	Jul. 31, 2020	Aug. 31, 2018USD ($)	Sep. 30, 2021USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 400,000,000
Applicable margin		5.00%
Commitment fee percentage		30.00%
Amount outstanding			$ 0
Undrawn availability			$ 400,000,000
Stated Period
Debt Instrument [Line Items]
Debt cover ratio	4.75
Normal Period
Debt Instrument [Line Items]
Debt cover ratio	3.5

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) - USD ($) $ in Thousands	1 Months Ended		9 Months Ended
	Mar. 31, 2021	Apr. 30, 2019	Sep. 30, 2021	Sep. 30, 2020	Jul. 01, 2021
Debt Instrument [Line Items]
Net proceeds from issuance of senior notes			$ 444,375	$ 0
Senior Notes | 7.125% Senior Notes
Debt Instrument [Line Items]
Interest rate		7.125%	7.125%		7.125%
Debt, face amount		$ 650,000
Net proceeds from issuance of senior notes		$ 640,000
Senior Notes | 7.875% Senior Notes
Debt Instrument [Line Items]
Interest rate		7.875%
Senior Notes | 7.500% Senior Notes
Debt Instrument [Line Items]
Interest rate	7.50%		7.50%
Debt, face amount	$ 450,000
Net proceeds from issuance of senior notes	$ 444,400
Redemption price percentage following change of control	101.00%
Redemption price percentage following sell of certain assets	100.00%
Senior Notes | 7.500% Senior Notes | Any Time Prior to March 1, 2024
Debt Instrument [Line Items]
Maximum percentage of principal amount available to be redeemed with proceeds from equity offerings	40.00%
Redemption price percentage with proceeds from equity offerings	107.50%
Senior Notes | 7.500% Senior Notes | Any Time Prior to March 1, 2024 with Make-whole Premium
Debt Instrument [Line Items]
Redemption price percentage	100.00%

Debt - Redemption Prices (Detai

Debt - Redemption Prices (Details) - 7.500% Senior Notes - Senior Notes	1 Months Ended
	Mar. 31, 2021
On or after March 1, 2024, but before February 28, 2025
Debt Instrument [Line Items]
Redemption price percentage	103.75%
On or after March 1, 2025, but before February 28, 2026
Debt Instrument [Line Items]
Redemption price percentage	101.875%
On or after March 1, 2026 and thereafter
Debt Instrument [Line Items]
Redemption price percentage	100.00%

Debt - Production Prepayment Ag

Debt - Production Prepayment Agreement, net (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Advances under production prepayment agreement		$ 0	$ 50,000
Trafigura
Debt Instrument [Line Items]
Advances under production prepayment agreement	$ 50,000

Debt - GoM Term Loan (Details)

Debt - GoM Term Loan (Details) - GoM Term Loan - Secured Debt $ in Millions	1 Months Ended
	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Debt term	5 years
Debt, face amount	$ 200
Proceeds from debt, net of issuance costs	197.7
Additional incremental commitments	$ 100
Debt instrument, interest rate, effective percentage	6.00%

Debt - Principal Debt Repayment

Debt - Principal Debt Repayments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jul. 01, 2021	Mar. 31, 2021	Dec. 31, 2020	Apr. 30, 2019
Scheduled maturities of debt during the five year period and thereafter
Total	$ 2,450,000			$ 2,150,000
2021	7,500
2022	30,000
2023	142,621
2024	237,834
2025	402,692
Thereafter	1,629,353
Senior Notes | 7.125% Senior Notes
Scheduled maturities of debt during the five year period and thereafter
Total	$ 650,000			650,000
Interest rate	7.125%	7.125%			7.125%
Senior Notes | 7.500% Senior Notes
Scheduled maturities of debt during the five year period and thereafter
Total	$ 450,000			$ 0
Interest rate	7.50%		7.50%

Debt - Interest and Other Finan

Debt - Interest and Other Financing Costs, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt Disclosure [Abstract]
Interest expense	$ 36,055	$ 29,760	$ 103,229	$ 90,031
Amortization—deferred financing costs	2,597	2,255	7,788	6,730
Loss on extinguishment of debt	0	678	15,223	2,893
Capitalized interest	(12,252)	(5,806)	(31,956)	(18,062)
Deferred interest	(600)	531	(724)	2,028
Interest income	(2,237)	(1,269)	(8,309)	(3,371)
Other, net	3,310	919	5,476	2,928
Interest and other financing costs, net	$ 26,873	$ 27,068	$ 90,727	$ 83,177

Derivative Financial Instrume_3

Derivative Financial Instruments - Schedule of oil derivative contracts (Details)	9 Months Ended
	Sep. 30, 2021$ / bblMBbls
Dated Brent | Term October 2021 To December 2021 | Swaps with sold puts
Derivative Financial Instruments
Volume (mbbls) | MBbls	1,500
Weighted Average Price per Bbl
Net Deferred Premium Payable/(Receivable) (usd per bbl)	0
Swap (usd per bbl)	53.96
Sold Put (usd per bbl)	42.92
Floor (usd per bbl)	0
Ceiling (usd per bbl)	0
Dated Brent | Term October 2021 To December 2021 | Three-way collars
Derivative Financial Instruments
Volume (mbbls) | MBbls	750
Weighted Average Price per Bbl
Net Deferred Premium Payable/(Receivable) (usd per bbl)	0.45
Swap (usd per bbl)	0
Sold Put (usd per bbl)	32.50
Floor (usd per bbl)	40
Ceiling (usd per bbl)	53.47
Dated Brent | Term October 2021 To December 2021 | Sold calls
Derivative Financial Instruments
Volume (mbbls) | MBbls	1,750
Weighted Average Price per Bbl
Net Deferred Premium Payable/(Receivable) (usd per bbl)	0
Swap (usd per bbl)	0
Sold Put (usd per bbl)	0
Floor (usd per bbl)	0
Ceiling (usd per bbl)	70.09
Dated Brent | Term January 2022 To December 2022 | Three-way collars
Derivative Financial Instruments
Volume (mbbls) | MBbls	4,500
Weighted Average Price per Bbl
Net Deferred Premium Payable/(Receivable) (usd per bbl)	0.64
Swap (usd per bbl)	0
Sold Put (usd per bbl)	43.33
Floor (usd per bbl)	56.67
Ceiling (usd per bbl)	76.91
Dated Brent | Term January 2022 To December 2022 | Two-way collars
Derivative Financial Instruments
Volume (mbbls) | MBbls	3,000
Weighted Average Price per Bbl
Net Deferred Premium Payable/(Receivable) (usd per bbl)	1.26
Swap (usd per bbl)	0
Sold Put (usd per bbl)	0
Floor (usd per bbl)	55
Ceiling (usd per bbl)	76.67
Dated Brent | Term January 2022 To December 2022 | Sold calls
Derivative Financial Instruments
Volume (mbbls) | MBbls	1,581
Weighted Average Price per Bbl
Net Deferred Premium Payable/(Receivable) (usd per bbl)	0
Swap (usd per bbl)	0
Sold Put (usd per bbl)	0
Floor (usd per bbl)	0
Ceiling (usd per bbl)	60
NYMEX WTI | Term October 2021 To December 2021 | Three-way collars
Derivative Financial Instruments
Volume (mbbls) | MBbls	250
Weighted Average Price per Bbl
Net Deferred Premium Payable/(Receivable) (usd per bbl)	1
Swap (usd per bbl)	0
Sold Put (usd per bbl)	37.50
Floor (usd per bbl)	45
Ceiling (usd per bbl)	55

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - Dated Brent - Two-way collars - Term January 2022 To December 2022	1 Months Ended	9 Months Ended
	Oct. 31, 2021$ / bblMBbls	Sep. 30, 2021$ / bblMBbls
Derivative Financial Instruments
Volume (mbbls) | MBbls		3,000
Floor (usd per bbl)		55
Ceiling (usd per bbl)		76.67
Subsequent Event
Derivative Financial Instruments
Volume (mbbls) | MBbls	2,000
Floor (usd per bbl)	70
Ceiling (usd per bbl)	90

Derivative Financial Instrume_5

Derivative Financial Instruments - Derivatives instrument and gain/loss from derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivative instruments, Balance Sheet Location
Derivatives assets—current	$ 0	$ 15,414
Derivatives assets—long-term	0	964
Derivatives liabilities—current	(107,863)	(28,009)
Derivatives liabilities—long-term	(21,548)	(8,069)
Derivatives not designated as hedging instruments
Derivative instruments, Balance Sheet Location
Total derivatives not designated as hedging instruments	(129,411)	(20,377)
Derivatives not designated as hedging instruments | Commodity
Derivative instruments, Balance Sheet Location
Derivatives assets—current	0	15,414
Derivatives assets—long-term	0	964
Derivatives liabilities—current	(107,863)	(28,009)
Derivatives liabilities—long-term	(21,548)	(8,069)
Derivatives not designated as hedging instruments | Provisional oil sales | Receivables: Oil Sales
Derivative instruments, Balance Sheet Location
Derivatives assets—current	$ 0	$ (677)

Derivative Financial Instrume_6

Derivative Financial Instruments - Schedule of derivative instruments by location of gain/(loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative instruments, Location of Gain/(Loss)
Amount of Gain/(Loss)	$ (36,130)	$ 540	$ (259,289)	$ 32,156
Provisional oil sales | Oil and gas revenue
Derivative instruments, Location of Gain/(Loss)
Amount of Gain/(Loss)	2,094	1,727	(6,683)	(2,620)
Commodity | Derivatives, net
Derivative instruments, Location of Gain/(Loss)
Amount of Gain/(Loss)	$ (38,224)	$ (1,187)	$ (252,606)	$ 34,776

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Jul. 01, 2021	Mar. 31, 2021	Mar. 31, 2020	Apr. 30, 2019
Liabilities:
Impairment of long-lived assets	$ 0	$ 3,200	$ 0	$ 0	$ 150,820	$ 154,000
Carrying Value
Liabilities:
Long-term debt	2,439,034	2,143,524		2,439,034		2,143,524
Fair Value
Liabilities:
Long-term debt	$ 2,424,633	2,113,412		$ 2,424,633		2,113,412
7.125% Senior Notes | Senior Notes
Liabilities:
Interest rate	7.125%			7.125%			7.125%			7.125%
7.125% Senior Notes | Senior Notes | Carrying Value
Liabilities:
Long-term debt	$ 644,302	643,524		$ 644,302		643,524
7.125% Senior Notes | Senior Notes | Fair Value
Liabilities:
Long-term debt	$ 637,728	613,412		$ 637,728		613,412
7.500% Senior Notes | Senior Notes
Liabilities:
Interest rate	7.50%			7.50%				7.50%
7.500% Senior Notes | Senior Notes | Carrying Value
Liabilities:
Long-term debt	$ 444,732	0		$ 444,732		0
7.500% Senior Notes | Senior Notes | Fair Value
Liabilities:
Long-term debt	436,905	0		436,905		0
GoM Term Loan | Secured Debt | Carrying Value
Liabilities:
Long-term debt	200,000	200,000		200,000		200,000
GoM Term Loan | Secured Debt | Fair Value
Liabilities:
Long-term debt	200,000	200,000		200,000		200,000
Corporate Revolver | Facility | Carrying Value
Liabilities:
Long-term debt	0	100,000		0		100,000
Corporate Revolver | Facility | Fair Value
Liabilities:
Long-term debt	0	100,000		0		100,000
Facility | Facility | Carrying Value
Liabilities:
Long-term debt	1,150,000	1,200,000		1,150,000		1,200,000
Facility | Facility | Fair Value
Liabilities:
Long-term debt	1,150,000	1,200,000		1,150,000		1,200,000
Recurring basis
Liabilities:
Total fair value, net	(129,411)	(20,377)		(129,411)		(20,377)
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Liabilities:
Total fair value, net	0	0		0		0
Recurring basis | Significant Other Observable Inputs (Level 2)
Liabilities:
Total fair value, net	(129,411)	(20,377)		(129,411)		(20,377)
Recurring basis | Significant Unobservable Inputs (Level 3)
Liabilities:
Total fair value, net	0	0		0		0
Recurring basis | Commodity derivatives
Assets:
Derivative asset, fair value	0	16,378		0		16,378
Liabilities:
Derivative liability, fair value	(129,411)	(36,078)		(129,411)		(36,078)
Recurring basis | Commodity derivatives | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Derivative asset, fair value	0	0		0		0
Liabilities:
Derivative liability, fair value	0	0		0		0
Recurring basis | Commodity derivatives | Significant Other Observable Inputs (Level 2)
Assets:
Derivative asset, fair value	0	16,378		0		16,378
Liabilities:
Derivative liability, fair value	(129,411)	(36,078)		(129,411)		(36,078)
Recurring basis | Commodity derivatives | Significant Unobservable Inputs (Level 3)
Assets:
Derivative asset, fair value	0	0		0		0
Liabilities:
Derivative liability, fair value	0	0		0		0
Recurring basis | Provisional oil sales
Assets:
Derivative asset, fair value	0	(677)		0		(677)
Recurring basis | Provisional oil sales | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Derivative asset, fair value	0	0		0		0
Recurring basis | Provisional oil sales | Significant Other Observable Inputs (Level 2)
Assets:
Derivative asset, fair value	0	(677)		0		(677)
Recurring basis | Provisional oil sales | Significant Unobservable Inputs (Level 3)
Assets:
Derivative asset, fair value	$ 0	$ 0		$ 0		$ 0
Nonrecurring basis
Liabilities:
Proved oil and gas reserves, fair value									$ 243,700

Equity-based Compensation - Nar

Equity-based Compensation - Narrative (Details) - LTIP - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized		$ 8,100,000	$ 8,700,000	$ 24,000,000	$ 26,400,000
Tax benefit		1,500,000	1,800,000	4,500,000	5,600,000
Net tax shortfall (windfall) related to equity-based compensation		1,500,000	100,000	6,300,000	1,200,000
Fair value of awards vested		$ 1,000,000	$ 200,000	$ 9,400,000	$ 26,000,000
Vesting period				3 years
Number of additional shares authorized (in shares)	11
Number of shares remaining available for grant (in shares)		10.8		10.8
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense not yet recognized		$ 27,300,000		$ 27,300,000
Weighted average period over which compensation expense is to be recognized				1 year 8 months 15 days
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)				$ 3.91
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				0.20%
Expected quarterly dividends (in dollars per share)				$ 0
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)				$ 9.52
Expected volatility				52.00%
Risk-free interest rate				2.50%
Expected quarterly dividends (in dollars per share)				$ 0.050

Equity-based Compensation - Sch

Equity-based Compensation - Schedule of Awards (Details) - LTIP - $ / shares shares in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Service Vesting Restricted Stock Units
Outstanding unvested awards activity
Outstanding at the beginning of the period (in shares)	4,840
Granted (in shares)	2,856
Forfeited (in shares)	(524)
Vested (in shares)	(2,379)
Outstanding at the end of the period (in shares)	4,793
Weighted-Average Grant-Date Fair Value
Outstanding (in dollars per share)	$ 3.90	$ 5.34
Granted (in dollars per share)	2.56
Forfeited (in dollars per share)	4.05
Vested (in dollars per share)	$ 5.18
Market/Service Vesting Restricted Stock Units
Outstanding unvested awards activity
Outstanding at the beginning of the period (in shares)	7,859
Granted (in shares)	6,727
Forfeited (in shares)	(1,918)
Vested (in shares)	(1,371)
Outstanding at the end of the period (in shares)	11,297
Weighted-Average Grant-Date Fair Value
Outstanding (in dollars per share)	$ 5.29	$ 8.11
Granted (in dollars per share)	3.91
Forfeited (in dollars per share)	5.47
Vested (in dollars per share)	9.95
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	0.00%
Market/Service Vesting Restricted Stock Units | Maximum
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share)	$ 9.52
Vesting percentage of the awards granted	200.00%
Percent threshold target for grants and forfeitures	100.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Taxes
Income (loss) before income taxes	$ (27,976)	$ (36,492)	$ (199,169)	$ (400,532)
Effective tax rate	2.00%	2.00%	11.00%	5.00%
Statutory tax rate	21.00%		21.00%
United States
Income Taxes
Income (loss) before income taxes	$ (19,129)	$ (41,359)	$ (57,769)	$ (311,200)
Change in deferred tax expense related to valuation allowances				30,900
Tax benefit from CARES Act				4,900
Foreign
Income Taxes
Income (loss) before income taxes	$ (8,847)	$ 4,867	$ (141,400)	$ (89,332)
Statutory tax rate	0.00%		0.00%
Ghanaian and Equatorial Guinean
Income Taxes
Statutory tax rate	35.00%		35.00%

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net loss allocable to common stockholders	$ (28,597)	$ (57,187)	$ (90,768)	$ (37,384)	$ (199,391)	$ (182,767)	$ (176,552)	$ (419,542)
Weighted average number of shares outstanding:
Basic (in shares)	408,520			405,409			408,009	405,131
Restricted stock awards and units (in shares)	0			0			0	0
Diluted (in shares)	408,520			405,409			408,009	405,131
Net loss per share:
Basic (in dollars per share)	$ (0.07)			$ (0.09)			$ (0.43)	$ (1.04)
Diluted (in dollars per share)	$ (0.07)			$ (0.09)			$ (0.43)	$ (1.04)
Outstanding restricted stock units excluded from the computations of diluted net income per share (in shares)	15,400			11,600			15,000	11,400

Commitments and Contingencies (

Commitments and Contingencies (Details) $ / shares in Units, $ in Millions	Mar. 26, 2020$ / shares	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2020$ / shares	Mar. 31, 2020$ / shares	Sep. 30, 2021USD ($)well$ / shares	Sep. 30, 2020$ / shares	Aug. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Operating Leased Assets [Line Items]
Dividends declared per common share (in dollars per share) | $ / shares	$ 0.0452	$ 0	$ 0	$ 0.0452	$ 0	$ 0.0452
Greater Tortue FPSO | BP Operator
Operating Leased Assets [Line Items]
Contract liability, noncurrent		$ 200.2			$ 200.2		$ 200.2
Mauritania
Operating Leased Assets [Line Items]
Number of exploration wells | well					1
U.S. Gulf of Mexico | Surety Bond
Operating Leased Assets [Line Items]
Cash collateral		0			$ 0			$ 0
U.S. Gulf of Mexico | Bureau of Ocean Energy Management | Surety Bond
Operating Leased Assets [Line Items]
Required performance bonds		229.3			229.3			195.5
U.S. Gulf of Mexico | Third Party | Surety Bond
Operating Leased Assets [Line Items]
Required performance bonds		$ 3.5			$ 3.5			$ 7.1

Additional Financial Informat_3

Additional Financial Information - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accrued liabilities:
Exploration, development and production	$ 56,941	$ 89,162
Revenue payable	20,737	15,079
Current asset retirement obligations	5,130	7,255
General and administrative expenses	19,773	4,988
Interest	34,222	23,725
Income taxes	15,443	37,344
Taxes other than income	3,765	2,815
Derivatives	19,850	17,475
Other	4,864	5,417
Accrued liabilities	$ 180,725	$ 203,260

Additional Financial Informat_4

Additional Financial Information - Schedule of Changes in Asset Retirement Obligations (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Asset retirement obligations:
Beginning asset retirement obligations	$ 251,421
Liabilities incurred during period	6,419
Liabilities settled during period	(2,828)
Revisions in estimated retirement obligations	445
Accretion expense	15,082
Ending asset retirement obligations	$ 270,539

Additional Financial Informat_5

Additional Financial Information - Other Expenses, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Additional Financial Information
(Gain) loss on disposal of inventory	$ (280)	$ 1,200	$ 302	$ 3,028
(Gain) loss on asset retirement obligations liability settlements	58	(170)	444	1,952
Restructuring charges	(127)	(72)	710	13,268
Other, net	543	1,847	(453)	9,714
Other expenses, net	$ 194	$ 2,805	$ 1,003	$ 27,962

Business Segment Information -

Business Segment Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	4

Business Segment Information _2

Business Segment Information - Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Oil and gas revenue	$ 198,936				$ 224,786			$ 759,455	$ 529,880
Gain on sale of assets	1,538				0			1,564	0
Other income, net	66				1			210	2
Total revenues and other income	200,540				224,787			761,229	529,882
Oil and gas production	50,316				84,277			211,871	234,627
Facilities insurance modifications, net	1,554				2,465			3,495	10,555
Exploration expenses	23,982				13,977			41,452	74,293
General and administrative	22,459				18,269			66,628	57,366
Depletion, depreciation and amortization	64,914				111,231			292,616	326,390
Impairment of long-lived assets	0			$ 3,200	0			0	150,820	$ 154,000
Interest and other financing costs, net	26,873				27,068			90,727	83,177
Derivatives, net	38,224				1,187			252,606	(34,776)
Other expenses, net	194				2,805			1,003	27,962
Total costs and expenses	228,516				261,279			960,398	930,414
Loss before income taxes	(27,976)				(36,492)			(199,169)	(400,532)
Income tax expense (benefit)	621				892			(22,617)	19,010
Net loss	(28,597)	$ (57,187)	$ (90,768)		(37,384)	$ (199,391)	$ (182,767)	(176,552)	(419,542)
Total consolidated capital expenditures	86,046				99,507			353,410	250,358
Property and equipment, net	3,442,897			3,320,913	3,366,304			3,442,897	3,366,304	3,320,913
Total assets	4,153,724			$ 3,867,593	4,093,501			4,153,724	4,093,501	$ 3,867,593
Corporate & Other
Segment Reporting Information [Line Items]
Oil and gas revenue	0				0			0	0
Gain on sale of assets	1,538				0			1,564	0
Other income, net	65,941				33,003			347,866	42,258
Total revenues and other income	67,479				33,003			349,430	42,258
Oil and gas production	0				0			0	0
Facilities insurance modifications, net	(1)				0			0	0
Exploration expenses	748				6,077			5,269	36,439
General and administrative	39,464				39,472			129,108	99,551
Depletion, depreciation and amortization	391				809			1,266	2,272
Impairment of long-lived assets	0				0			0	0
Interest and other financing costs, net	18,641				18,314			78,348	55,705
Derivatives, net	38,224				1,187			252,606	(34,776)
Other expenses, net	265				1,518			2,306	16,197
Total costs and expenses	97,732				67,377			468,903	175,388
Loss before income taxes	(30,253)				(34,374)			(119,473)	(133,130)
Income tax expense (benefit)	1,645				(5,307)			6,196	(3,591)
Net loss	(31,898)				(29,067)			(125,669)	(129,539)
Total consolidated capital expenditures	(162)				6,287			5,564	32,082
Property and equipment, net	21,192				25,898			21,192	25,898
Total assets	14,315,531				12,782,894			14,315,531	12,782,894
Eliminations
Segment Reporting Information [Line Items]
Oil and gas revenue	0				0			0	0
Gain on sale of assets	0				0			0	0
Other income, net	(66,131)				(33,040)			(348,685)	(42,746)
Total revenues and other income	(66,131)				(33,040)			(348,685)	(42,746)
Oil and gas production	0				0			0	0
Facilities insurance modifications, net	0				0			0	0
Exploration expenses	0				0			0	0
General and administrative	(27,908)				(30,069)			(94,296)	(72,171)
Depletion, depreciation and amortization	0				0			0	0
Impairment of long-lived assets	0				0			0	0
Interest and other financing costs, net	0				(1,784)			(1,784)	(5,351)
Derivatives, net	0				0			0	0
Other expenses, net	(38,224)				(1,187)			(252,606)	34,776
Total costs and expenses	(66,132)				(33,040)			(348,686)	(42,746)
Loss before income taxes	1				0			1	0
Income tax expense (benefit)	0				0			0	0
Net loss	1				0			1	0
Total consolidated capital expenditures	0				0			0	0
Property and equipment, net	0				0			0	0
Total assets	(16,859,275)				(14,848,912)			(16,859,275)	(14,848,912)
Ghana | Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue	67,247				125,636			313,126	236,536
Gain on sale of assets	0				0			0	0
Other income, net	0				1			1	2
Total revenues and other income	67,247				125,637			313,127	236,538
Oil and gas production	10,490				48,709			80,189	113,319
Facilities insurance modifications, net	1,555				2,465			3,495	10,555
Exploration expenses	89				48			164	146
General and administrative	3,165				3,101			8,636	10,123
Depletion, depreciation and amortization	20,958				63,487			132,232	148,135
Impairment of long-lived assets	0				0			0	0
Interest and other financing costs, net	16,836				13,117			36,890	41,270
Derivatives, net	0				0			0	0
Other expenses, net	34,382				(1,818)			193,370	(64,142)
Total costs and expenses	87,475				129,109			454,976	259,406
Loss before income taxes	(20,228)				(3,472)			(141,849)	(22,868)
Income tax expense (benefit)	(6,782)				(849)			(48,770)	(6,679)
Net loss	(13,446)				(2,623)			(93,079)	(16,189)
Total consolidated capital expenditures	30,935				6,116			61,570	31,192
Property and equipment, net	1,226,513				1,373,126			1,226,513	1,373,126
Total assets	1,297,303				1,511,667			1,297,303	1,511,667
Equatorial Guinea | Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue	35,063				43,530			147,424	95,050
Gain on sale of assets	0				0			0	0
Other income, net	0				0			0	0
Total revenues and other income	35,063				43,530			147,424	95,050
Oil and gas production	13,029				14,072			56,373	50,961
Facilities insurance modifications, net	0				0			0	0
Exploration expenses	2,089				1,561			4,666	6,397
General and administrative	581				1,017			2,883	3,977
Depletion, depreciation and amortization	5,999				15,421			34,474	43,724
Impairment of long-lived assets	0				0			0	0
Interest and other financing costs, net	(446)				(344)			(1,218)	(1,044)
Derivatives, net	0				0			0	0
Other expenses, net	3,229				384			34,096	(8,993)
Total costs and expenses	24,481				32,111			131,274	95,022
Loss before income taxes	10,582				11,419			16,150	28
Income tax expense (benefit)	5,758				7,048			19,957	(1,622)
Net loss	4,824				4,371			(3,807)	1,650
Total consolidated capital expenditures	20,351				9,853			51,444	25,959
Property and equipment, net	447,795				449,020			447,795	449,020
Total assets	854,530				708,614			854,530	708,614
Mauritania/Senegal | Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue	0				0			0	0
Gain on sale of assets	0				0			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			0	0
Exploration expenses	7,081				806			10,812	5,265
General and administrative	2,980				1,168			7,677	5,453
Depletion, depreciation and amortization	15				15			46	46
Impairment of long-lived assets	0				0			0	0
Interest and other financing costs, net	(11,604)				(6,607)			(33,816)	(19,455)
Derivatives, net	0				0			0	0
Other expenses, net	(106)				658			(2,348)	3,129
Total costs and expenses	(1,634)				(3,960)			(17,629)	(5,562)
Loss before income taxes	1,634				3,960			17,629	5,562
Income tax expense (benefit)	0				0			0	0
Net loss	1,634				3,960			17,629	5,562
Total consolidated capital expenditures	13,734				46,574			169,158	51,897
Property and equipment, net	822,013				502,355			822,013	502,355
Total assets	1,329,267				717,323			1,329,267	717,323
U.S. Gulf of Mexico | Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue	96,626				55,620			298,905	198,294
Gain on sale of assets	0				0			0	0
Other income, net	256				37			1,028	488
Total revenues and other income	96,882				55,657			299,933	198,782
Oil and gas production	26,797				21,496			75,309	70,347
Facilities insurance modifications, net	0				0			0	0
Exploration expenses	13,975				5,485			20,541	26,046
General and administrative	4,177				3,580			12,620	10,433
Depletion, depreciation and amortization	37,551				31,499			124,598	132,213
Impairment of long-lived assets	0				0			0	150,820
Interest and other financing costs, net	3,446				4,372			12,307	12,052
Derivatives, net	0				0			0	0
Other expenses, net	648				3,250			26,185	46,995
Total costs and expenses	86,594				69,682			271,560	448,906
Loss before income taxes	10,288				(14,025)			28,373	(250,124)
Income tax expense (benefit)	0				0			0	30,902
Net loss	10,288				(14,025)			28,373	(281,026)
Total consolidated capital expenditures	21,188				30,677			65,674	109,228
Property and equipment, net	925,384				1,015,905			925,384	1,015,905
Total assets	$ 3,216,368				$ 3,221,915			$ 3,216,368	$ 3,221,915

Business Segment Information _3

Business Segment Information - Consolidated Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting [Abstract]
Oil and gas assets			$ 377,125	$ 215,425
Other property			725	1,838
Changes in capital accruals			(16,523)	(6,284)
Exploration expense, excluding unsuccessful well costs and leasehold impairments			24,680	49,955
Capitalized interest			(31,956)	(18,062)
Proceeds on sale of assets			(3,395)	0
Other			2,754	7,486
Total consolidated capital expenditures	$ 86,046	$ 99,507	$ 353,410	$ 250,358

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended
	Oct. 31, 2021	Sep. 30, 2021
Jubilee Unit
Subsequent Event [Line Items]
Participating interest percentage		24.10%
TEN fields
Subsequent Event [Line Items]
Participating interest percentage		17.00%
Subsequent Event | Public Issuance
Subsequent Event [Line Items]
Proceeds from issuance	$ 136.6
Number of shares issued (in shares)	43.1
Subsequent Event | Bridge Notes | Senior Notes
Subsequent Event [Line Items]
Debt, face amount	$ 400
Subsequent Event | Facility | Facility
Subsequent Event [Line Items]
Borrowings under long-term debt	75
Subsequent Event | 7.750% Senior Notes Due 2027 | Senior Notes
Subsequent Event [Line Items]
Debt, face amount	$ 400
Interest rate	7.75%
Subsequent Event | Anadarko WCTP
Subsequent Event [Line Items]
Payments to acquire businesses, gross	$ 460
Business combination, consideration transferred	550.6
Business combination, purchase price adjustments	$ 94.7
Subsequent Event | Jubilee Unit | Deepwater Tano Block Joint Operating Agreement
Subsequent Event [Line Items]
Reduction of ultimate interest upon full exercise of pre-emption rights	3.80%
Ultimate interest upon full exercise of pre-emption rights	38.30%
Subsequent Event | Jubilee Unit | Anadarko WCTP
Subsequent Event [Line Items]
Participating interest percentage	18.00%
Participating interest percentage after acquired interest	42.10%
Subsequent Event | TEN fields | Deepwater Tano Block Joint Operating Agreement
Subsequent Event [Line Items]
Reduction of ultimate interest upon full exercise of pre-emption rights	8.30%
Ultimate interest upon full exercise of pre-emption rights	19.80%
Subsequent Event | TEN fields | Anadarko WCTP
Subsequent Event [Line Items]
Participating interest percentage	11.10%
Participating interest percentage after acquired interest	28.10%