Kosmos Energy (KOS) 10-K 28 Feb 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 24, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
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
City Area Code	214
Local Phone Number	445 9600
Title of 12(b) Security	Common Stock $0.01 par value
Trading Symbol	KOS
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,384,993,421
Entity Common Stock, Shares Outstanding		455,265,466
Documents Incorporated by Reference	Part III, Items 10‑14, is incorporated by reference from the Proxy Statement for the Annual Meeting of Shareholders which will be filed with the Securities and Exchange Commission not later than 120 days subsequent to December 31, 2021. Certain exhibits previously filed with the Securities and Exchange Commission are incorporated by reference into Part IV of this report.
Entity Central Index Key	0001509991
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Dallas, Texas

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 131,620	$ 149,027
Restricted cash	42,971	195
Receivables:
Joint interest billings, net	36,908	26,002
Oil sales	134,004	44,491
Other	6,614	8,320
Inventories	165,247	128,972
Prepaid expenses and other	18,899	27,870
Derivatives	5,689	15,414
Total current assets	541,952	400,291
Property and equipment:
Oil and gas properties, net	4,177,323	3,310,276
Other property, net	6,664	10,637
Property and equipment, net	4,183,987	3,320,913
Other assets:
Restricted cash	305	542
Long-term receivables	191,150	117,497
Deferred financing costs, net of accumulated amortization of $19,912 and $17,296 at December 31, 2021 and December 31, 2020, respectively	1,090	3,706
Deferred tax assets	0	0
Derivatives	1,026	964
Other	21,141	23,680
Total assets	4,940,651	3,867,593
Current liabilities:
Accounts payable	184,403	221,430
Accrued liabilities	250,670	203,260
Current maturities of long-term debt	30,000	7,500
Derivatives	65,879	28,009
Total current liabilities	530,952	460,199
Long-term liabilities:
Long-term debt, net	2,590,495	2,103,931
Derivatives	6,298	8,069
Asset retirement obligations	322,237	244,166
Deferred tax liabilities	711,038	573,619
Other long-term liabilities	250,394	37,455
Total long-term liabilities	3,880,462	2,967,240
Stockholders’ equity:
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at December 31, 2021 and December 31, 2020	0	0
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 496,152,331 and 449,718,317 issued at December 31, 2021 and December 31, 2020, respectively	4,962	4,497
Additional paid-in capital	2,473,674	2,307,220
Accumulated deficit	(1,712,392)	(1,634,556)
Treasury stock, at cost, 44,263,269 shares at December 31, 2021 and December 31, 2020, respectively	(237,007)	(237,007)
Total stockholders’ equity	529,237	440,154
Total liabilities and stockholders’ equity	$ 4,940,651	$ 3,867,593

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Deferred financing costs, accumulated amortization	$ 19,912	$ 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)	496,152,331	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	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 26, 2020	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues and other income:
Oil and gas revenue				$ 1,332,013,000	$ 804,033,000	$ 1,499,416,000
Gain on sale of assets				1,564,000	92,163,000	10,528,000
Other income, net				262,000	2,000	(35,000)
Total revenues and other income				1,333,839,000	896,198,000	1,509,909,000
Costs and expenses:
Oil and gas production				346,006,000	338,477,000	402,613,000
Facilities insurance modifications, net				(1,586,000)	13,161,000	(24,254,000)
Exploration expenses				65,382,000	84,616,000	180,955,000
General and administrative				91,529,000	72,142,000	110,010,000
Depletion, depreciation and amortization				467,221,000	485,862,000	563,861,000
Impairment of long-lived assets		$ 3,200,000	$ 150,800,000	0	153,959,000	0
Interest and other financing costs, net				128,371,000	109,794,000	155,074,000
Derivatives, net				270,185,000	17,180,000	71,885,000
Other expenses, net				10,111,000	37,802,000	24,648,000
Total costs and expenses				1,377,219,000	1,312,993,000	1,484,792,000
Income (loss) before income taxes				(43,380,000)	(416,795,000)	25,117,000
Income tax expense (benefit)				34,456,000	(5,209,000)	80,894,000
Net loss				$ (77,836,000)	$ (411,586,000)	$ (55,777,000)
Net loss per share:
Basic (in dollars per share)				$ (0.19)	$ (1.02)	$ (0.14)
Diluted (in dollars per share)				$ (0.19)	$ (1.02)	$ (0.14)
Weighted average number of shares used to compute net loss per share:
Basic (in shares)				416,943	405,212	401,368
Diluted (in shares)				416,943	405,212	401,368
Dividends declared per common share (in dollars per share)	$ 0.0452				$ 0.0452	$ 0.1808

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock
Balance (in shares) at Dec. 31, 2018		442,915
Balance at Dec. 31, 2018	$ 941,478	$ 4,429	$ 2,341,249	$ (1,167,193)	$ (237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	(74,813)		(74,813)
Equity-based compensation	32,797		32,797
Restricted stock awards and units (in shares)		2,864
Restricted stock awards and units	0	$ 29	(29)
Tax withholdings on restricted stock units	(1,983)		(1,983)
Net loss	(55,777)			(55,777)
Balance (in shares) at Dec. 31, 2019		445,779
Balance at Dec. 31, 2019	841,702	$ 4,458	2,297,221	(1,222,970)	(237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	(18,576)		(18,576)
Equity-based compensation	33,561		33,561
Restricted stock awards and units (in shares)		3,939
Restricted stock awards and units	0	$ 39	(39)
Tax withholdings on restricted stock units	(4,947)		(4,947)
Net loss	(411,586)			(411,586)
Balance (in shares) at Dec. 31, 2020		449,718
Balance at Dec. 31, 2020	440,154	$ 4,497	2,307,220	(1,634,556)	(237,007)
Increase (Decrease) in Shareholders' Equity
Public offering of common stock (in shares)		43,125
Public offering of common stock	136,006	$ 432	135,574
Dividends	227		227
Equity-based compensation	31,786		31,786
Restricted stock awards and units (in shares)		3,309
Restricted stock awards and units	0	$ 33	(33)
Tax withholdings on restricted stock units	(1,100)		(1,100)
Net loss	(77,836)			(77,836)
Balance (in shares) at Dec. 31, 2021		496,152
Balance at Dec. 31, 2021	$ 529,237	$ 4,962	$ 2,473,674	$ (1,712,392)	$ (237,007)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	1 Months Ended	12 Months Ended
	Mar. 26, 2020	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared per common stock (in dollars per share)	$ 0.0452	$ 0.0452	$ 0.1808

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net loss	$ (77,836,000)	$ (411,586,000)	$ (55,777,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depletion, depreciation and amortization (including deferred financing costs)	477,801,000	495,209,000	573,118,000
Deferred income taxes	(69,174,000)	(42,587,000)	(90,370,000)
Unsuccessful well costs and leasehold impairments	18,819,000	23,157,000	87,813,000
Impairment of long-lived assets	0	153,959,000	0
Change in fair value of derivatives	277,705,000	22,800,000	67,436,000
Cash settlements on derivatives, net (including $(224.4) million and $(2.7) million and $(36.3) million on commodity hedges during 2021, 2020, and 2019)	(231,767,000)	(10,944,000)	(31,458,000)
Equity-based compensation	31,651,000	32,706,000	32,370,000
Gain on sale of assets	(1,564,000)	(92,163,000)	(10,528,000)
Loss on extinguishment of debt	19,625,000	2,902,000	24,794,000
Other	(3,538,000)	15,922,000	9,069,000
Changes in assets and liabilities:
(Increase) decrease in receivables	(34,246,000)	92,093,000	(29,735,000)
Increase in inventories	(14,581,000)	(23,167,000)	(28,970,000)
Decrease in prepaid expenses and other	15,218,000	7,882,000	34,586,000
Increase (decrease) in accounts payable	(33,359,000)	71,947,000	(83,921,000)
Increase (decrease) in accrued liabilities	(410,000)	(141,985,000)	129,723,000
Net cash provided by operating activities	374,344,000	196,145,000	628,150,000
Investing activities
Oil and gas assets	(472,631,000)	(379,593,000)	(352,013,000)
Acquisition of oil and gas properties	(465,367,000)	0	0
Proceeds on sale of assets	6,354,000	99,118,000	15,000,000
Notes receivable from partners	(41,733,000)	(65,112,000)	(26,918,000)
Net cash used in investing activities	(973,377,000)	(345,587,000)	(363,931,000)
Financing activities
Borrowings under long-term debt	725,000,000	300,000,000	175,000,000
Payments on long-term debt	(1,050,000,000)	(250,000,000)	(425,000,000)
Advances under production prepayment agreement	0	50,000,000	0
Net proceeds from issuance of senior notes	839,375,000	0	641,875,000
Redemption of senior secured notes	0	0	(535,338,000)
Net proceeds from issuance of common stock	136,006,000	0	0
Tax withholdings on restricted stock units	(1,100,000)	(4,947,000)	(1,983,000)
Dividends	(512,000)	(19,271,000)	(72,599,000)
Deferred financing costs	(24,604,000)	(5,922,000)	(2,444,000)
Net cash provided by (used in) financing activities	624,165,000	69,860,000	(220,489,000)
Net increase (decrease) in cash, cash equivalents and restricted cash	25,132,000	(79,582,000)	43,730,000
Cash, cash equivalents and restricted cash at beginning of period	174,896,000	149,764,000	229,346,000
Cash, cash equivalents and restricted cash at end of period	149,764,000	229,346,000	185,616,000
Cash paid for:
Interest, net of capitalized interest	91,032,000	103,674,000	99,928,000
Income taxes, net of refund received	137,421,000	104,061,000	43,909,000
Non-cash activity:
Production Prepayment Agreement converted to GoM Term Loan	$ 0	$ 50,000,000	$ 0

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Cash Flows [Abstract]
Cash settlements on commodity hedges derivatives	$ (224.4)	$ (2.7)	$ (36.3)

Organization

Organization	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Kosmos Energy Ltd. changed our jurisdiction of incorporation from Bermuda to the State of Delaware in December 2018 as a holding company for Kosmos Energy Delaware Holdings, LLC, a Delaware limited liability company. As a holding company, Kosmos Energy Ltd.’s management operations are conducted through a wholly-owned subsidiary, Kosmos Energy, LLC. The terms “Kosmos,” the “Company,” “we,” “us,” “our,” “ours,” and similar terms refer to Kosmos Energy Ltd. and its wholly-owned subsidiaries, unless the context indicates otherwise. Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and the 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 the U.S. Gulf of Mexico. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. Kosmos is engaged in a single line of business, which is the exploration, development, and production of oil and natural gas. Substantially all of our long-lived assets and all of our product sales are related to operations in four geographic areas: Ghana, Equatorial Guinea, Mauritania/Senegal and the U.S. Gulf of Mexico.

Accounting Policies

Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of Kosmos Energy Ltd. and its wholly-owned subsidiaries. They also include the Company’s share of the undivided interest in certain assets, liabilities, revenues and expenses. Investments in corporate joint ventures, which we exercise significant influence over, are accounted for using the equity method of accounting. All intercompany transactions have been eliminated. Investments in companies that are partially owned by the Company are integral to the Company’s operations. The other parties, who also have an equity interest in these companies, are independent third parties that share in the business results according to their ownership. Kosmos does not invest in these companies in order to remove liabilities from its balance sheet. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities. These estimates could change materially if different information or assumptions were used. We base our assumptions and estimates on historical experience and other sources that we believe to be reasonable at the time. Actual results could differ from these estimates. Reclassifications Certain prior period amounts have been reclassified to conform with the current year presentation. Such reclassifications had no significant impact on our reported net loss, current assets, total assets, current liabilities, total liabilities, shareholders’ equity or cash flows, except as disclosed related to the adoption of recent accounting pronouncements. Cash, Cash Equivalents and Restricted Cash December 31, 2021 2020 2019 (In thousands) Cash and cash equivalents $ 131,620 $ 149,027 $ 224,502 Restricted cash - current 42,971 195 4,302 Restricted cash - long-term 305 542 542 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 174,896 $ 149,764 $ 229,346 Cash and cash equivalents includes 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, the 7.750% Senior Notes, and the 7.500% Senior Notes plus the Corporate Revolver or the Facility, whichever is greater. As of December 31, 2021, we exceeded this ratio and restricted approximately $42.9 million in cash to meet our requirements. In the first quarter of 2022 we restricted an additional $16.2 million in cash. Receivables Our receivables consist of joint interest billings, oil and gas sales, related party and other receivables. Receivables from joint interest owners are stated at amounts due, net of any allowances for doubtful accounts. As required by ASU 2016-13, "Measurement of Credit Losses on Financial Instruments", we determine our allowance based on historical experience, current conditions and reasonable and supportable forecasts by considering the length of time past due, future net revenues of the debtor’s ownership interest in oil and natural gas properties we operate, and the owner’s ability to pay its obligation, among other things. We had an allowance for doubtful accounts of $5.2 million and $5.7 million in current joint interest billings receivables as of December 31, 2021 and 2020, respectively. Inventories Inventories consisted of $149.5 million and $127.5 million of materials and supplies and $15.7 million and $1.5 million of hydrocarbons as of December 31, 2021 and 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. We recorded write downs of $1.2 million, $8.6 million and $4.6 million during the years ended December 31, 2021, 2020 and 2019 for materials and supplies inventories as Other expenses, net in the consolidated statements of operations and other in the consolidated statements of cash flows. 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. Leases We account for leases in accordance with ASC Topic 842, Leases, (“ASC 842”). We determine if an arrangement is a lease at contract inception. In the normal course of business, the Company enters into various lease agreements for real estate and equipment related to its exploration, development and production activities that are currently accounted for as operating leases. Operating leases are included in Other assets, Accrued liabilities, and Other long-term liabilities on our consolidated balance sheets. The lease liabilities are initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. We monitor for events or changes in circumstances that require a reassessment of a lease. When a reassessment results in the re-measurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero. In that case, the amount of the adjustment that would result in a negative ROU asset balance is recorded in profit or loss. Exploration and Development Costs The Company follows the successful efforts method of accounting for its oil and gas properties. Acquisition costs for proved and unproved properties are capitalized when incurred. Costs of unproved properties are transferred to proved properties when a determination that proved reserves have been found. Exploration costs, including geological and geophysical costs and costs of carrying unproved properties, are expensed as incurred. Exploratory drilling costs are capitalized when incurred. If exploratory wells are determined to be commercially unsuccessful or dry holes, the applicable costs are expensed and recorded in exploration expense on the consolidated statement of operations. Costs incurred to drill and equip development wells, including unsuccessful development wells, are capitalized. Costs incurred to operate and maintain wells and equipment and to lift oil and natural gas to the surface are expensed as oil and gas production expense. The Company evaluates unproved property periodically for impairment. The impairment assessment considers results of exploration activities, commodity price outlooks, planned future sales or expiration of all or a portion of such projects. If it is determined that future appraisal drilling or development activities are unlikely to occur, the associated capitalized costs are recorded as exploration expense in the consolidated statement of operations. Depletion, Depreciation and Amortization Proved properties and support equipment and facilities are depleted using the unit‑of‑production method based on estimated proved oil and natural gas reserves. Capitalized exploratory drilling costs that result in a discovery of proved reserves and development costs are depleted using the unit‑of‑production method based on estimated proved developed oil and natural gas reserves for the related field. Depreciation and amortization of other property is computed using the straight-line method over the assets’ estimated useful lives (not to exceed the lease term for leasehold improvements), ranging from one Years Leasehold improvements 1 to 8 Office furniture, fixtures and computer equipment 3 to 7 Amortization of deferred financing costs is computed using the straight‑line method over the life of the related debt. Capitalized Interest Interest costs from external borrowings are capitalized on major projects with an expected construction period of one year or longer. Capitalized interest is added to the cost of the underlying asset and is depleted on the unit‑of‑production method in the same manner as the underlying assets. Asset Retirement Obligations The Company accounts for asset retirement obligations as required by ASC 410—Asset Retirement and Environmental Obligations. Under these standards, the fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. If a reasonable estimate of fair value cannot be made in the period the asset retirement obligation is incurred, the liability is recognized when a reasonable estimate of fair value can be made. If a tangible long‑lived asset with an existing asset retirement obligation is acquired, a liability for that obligation is recognized at the asset’s acquisition or in service date. In addition, a liability for the fair value of a conditional asset retirement obligation is recorded if the fair value of the liability can be reasonably estimated. We capitalize the asset retirement costs by increasing the carrying amount of the related long‑lived asset by the same amount as the liability. We record increases in the discounted abandonment liability resulting from the passage of time in depletion, depreciation and amortization in the consolidated statement of operations. Estimating the future restoration and removal costs requires management to make estimates and judgments because most of the removal obligations are many years in the future and contracts and regulations often have vague descriptions of what constitutes removal. Additionally, asset removal technologies and costs are constantly changing, as are regulatory, political, environmental, safety and public relations considerations. Inherent in the present value calculation are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit adjusted discount rates, timing of settlement and changes in the legal, regulatory, environmental and political environments. To the extent future revisions to these assumptions impact the present value of the existing asset retirement obligations, a corresponding adjustment is made to the oil and gas property balance. Acquisition Accounting The purchase price in an acquisition (business combination or asset acquisition) is allocated to the assets acquired and liabilities assumed based on their relative fair values as of the acquisition date, which may occur many months after the deal announcement date. Therefore, while the consideration to be paid may be fixed, the fair value of the assets acquired, and liabilities assumed is subject to change during the period between the announcement date and the acquisition date. The most significant estimates in the allocation typically relate to the value assigned to future recoverable oil and natural gas reserves and unproved properties. As the allocation of the purchase price is subject to significant estimates and subjective judgments, the accuracy of this assessment is inherently uncertain. Impairment of Long‑lived Assets We review our long‑lived assets for impairment when changes in circumstances indicate that the carrying amount of an asset may not be recoverable. ASC 360 — Property, Plant and Equipment requires an impairment loss to be recognized if the carrying amount of a long‑lived asset is not recoverable and exceeds its fair value. The carrying amount of a long‑lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. That assessment shall be based on the carrying amount of the asset at the date it is tested for recoverability, whether in use or under development. Assets to be disposed of and assets not expected to provide any future service potential to us are recorded at the lower of carrying amount or fair value. Oil and gas properties are grouped in accordance with ASC 932 — Extractive Activities-Oil and Gas. The basis for grouping is a reasonable aggregation of properties typically by field or by logical grouping of assets with significant shared infrastructure. For long-lived assets whereby the carrying value exceeds the estimated future undiscounted cash flows, the carrying amount is reduced to fair value. Fair value is generally estimated using the income approach described in the ASC 820 — Fair Value Measurement. If applicable, we utilize prices and other relevant information generated by market transactions involving assets and liabilities that are identical or comparable to the item being measured as the basis for determining fair value. The expected future cash flows used for impairment reviews and related fair value measurements are typically based on judgmental assessments of future production, pricing estimates, capital and operating costs, market-based weighted average cost of capital, and risk adjustment factors applied to reserves. These assumptions are applied to develop future cash flow projections that are then discounted to estimated fair value, using a market-based weighted-average cost of capital. Although we base the fair value estimate of each asset group on assumptions we believe to be reasonable, those assumptions are inherently unpredictable and uncertain, and actual results could differ from the estimate. Negative revisions of estimated reserve quantities, increases in future cost estimates, divestiture of a significant component of the asset group, or sustained decreases in crude oil prices could lead to a reduction in expected future cash flows and possibly an additional impairment of long-lived assets in future periods. We believe the assumptions used in our analysis to test for impairment are appropriate and result in a reasonable estimate of future cash flows and fair value. Kosmos has consistently used an average of third-party industry forecasts to determine our pricing assumptions. Where unproved reserves exist, an appropriately risk-adjusted amount of these reserves may be included in the evaluation. Derivative Instruments and Hedging Activities We utilize oil derivative contracts to mitigate our exposure to commodity price risk associated with our anticipated future oil production. These derivative contracts consist of collars, put options, call options and swaps. We also have used interest rate derivative contracts to mitigate our exposure to interest rate fluctuations related to our long‑term debt. Our derivative financial instruments are recorded on the balance sheet as either assets or liabilities and are measured at fair value. We do not apply hedge accounting to our derivative contracts. See Note 9—Derivative Financial Instruments. Estimates of Proved Oil and Natural Gas Reserves Reserve quantities and the related estimates of future net cash flows affect our periodic calculations of depletion and assessment of impairment of our oil and natural gas properties. Proved oil and natural gas reserves are the estimated quantities of crude oil, natural gas and natural gas liquids that geological and engineering data demonstrate with reasonable certainty to be recoverable in future periods from known reservoirs under existing economic and operating conditions. As additional proved reserves are discovered, reserve quantities and future cash flows will be estimated by independent petroleum consultants and prepared in accordance with guidelines established by the SEC and the FASB. The accuracy of these reserve estimates is a function of: • the engineering and geological interpretation of available data; • estimates of the amount and timing of future operating cost, production taxes, development cost and workover cost; • the accuracy of various mandated economic assumptions; and • the judgments of the persons preparing the estimates. Revenue Recognition We recognize revenues on the volumes of hydrocarbons sold to a purchaser. The volumes sold may be more or less than the volumes to which we are entitled based on our ownership interest in the property. These differences result in a condition known in the industry as a production imbalance. A receivable or liability is recognized only to the extent that we have an imbalance on a specific property greater than the expected remaining proved reserves on such property. As of December 31, 2021 and 2020, we had no oil and gas imbalances recorded in our consolidated financial statements. 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: Years Ended December 31, 2021 2020 2019 (In thousands) Revenues from contract with customer - Equatorial Guinea $ 257,628 $ 149,033 $ 297,831 Revenues from contract with customer - Ghana 654,644 375,603 740,464 Revenues from contract with customers - U.S. Gulf of Mexico 427,261 285,017 459,960 Provisional oil sales contracts (7,520) (5,620) 1,161 Oil and gas revenue $ 1,332,013 $ 804,033 $ 1,499,416 Equity‑based Compensation For equity‑based compensation awards, compensation expense is recognized in the Company’s financial statements over the awards’ vesting periods based on their grant date fair value. The Company utilizes (i) the closing stock price on the date of grant to determine the fair value of service vesting restricted stock units and (ii) a Monte Carlo simulation to determine the fair value of restricted stock units with a combination of market and service vesting criteria. Forfeitures are recognized in the period in which they occur. Restructuring Charges The Company accounts for restructuring charges and related termination benefits in accordance with ASC 712-Compensation-Nonretirement Postemployment Benefits. Under this standard, the costs associated with termination benefits are recorded during the period in which the liability is incurred. During the years ended December 31, 2021, 2020 and 2019, we recognized $2.6 million, $16.5 million and $11.5 million, respectively, in restructuring charges for employee severance and related benefit costs incurred as part of a corporate reorganization in Other expenses, net in the consolidated statement of operations. Income Taxes The Company accounts for income taxes as required by ASC 740—Income Taxes. Under this method, deferred income taxes are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. On a quarterly basis, management evaluates the need for and adequacy of valuation allowances based on the expected realizability of the deferred tax assets and adjusts the amount of such allowances, if necessary. We recognize tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained upon examination by the tax authorities, based on the technical merits of the position. Accordingly, we measure tax benefits from such positions based on the most likely outcome to be realized. Foreign Currency Translation The U.S. dollar is the functional currency for all of the Company’s material foreign operations. Foreign currency transaction gains and losses and adjustments resulting from translating monetary assets and liabilities denominated in foreign currencies are included in other expenses. Cash balances held in foreign currencies are not significant, and as such, the effect of exchange rate changes is not material to any reporting period. Concentration of Credit Risk Our revenue can be materially affected by current economic conditions and the price of oil and natural gas. However, based on the current demand for crude oil and natural gas and the fact that alternative purchasers are readily available, we believe that the loss of our 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 international 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 Recently Adopted 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. Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848),” which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by the cessation of the LIBOR. The guidance was effective beginning March 12, 2020 and can be applied prospectively through December 31, 2022. As we implement the cessation of LIBOR into our current contracts and hedging relationships, the Company is evaluating whether to apply any of these expedients and, if elected, will adopt these standards when LIBOR is discontinued.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures 2021 Transactions 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 $455.9 million in cash based on an initial purchase price of $550.6 million reduced by certain purchase price adjustments totaling $94.7 million. Additionally, we incurred $9.5 million of transaction related costs, which were capitalized as part of the purchase price. 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%. Under the Deepwater Tano Block Joint Operating Agreement, certain joint venture partners have pre-emption rights that, if fully exercised, could reduce our ultimate interest in the Jubilee Unit Area by 3.8% to 38.3%, and our ultimate interest in the TEN fields by 8.3% to 19.8%. In November 2021, we received notice from certain joint venture partners that they intend to exercise their pre-emption rights in relation to Kosmos' acquisition of Anadarko WCTP. The exercise of pre-emption rights is subject to finalizing definitive agreements with Kosmos and requires approval from GNPC and the Ghanaian Ministry of Energy. The initial purchase price for the pre-empted portion of transaction is approximately $150 million and is subject to certain closing adjustments. Kosmos would anticipate using any potential proceeds to accelerate debt repayment. Kosmos initially funded the purchase price through the issuance of $400.0 million aggregate principal amount of floating rate senior notes due 2022 (“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 proceeds used to repay a portion of outstanding borrowings under the Facility during the fourth quarter of 2021. The purchase price allocation was based on the estimated fair value of identifiable assets acquired and liabilities assumed. The estimated fair value measurements of oil and gas assets acquired and asset retirement obligations liabilities assumed are based on inputs that are not observable in the market and therefore represent Level 3 inputs. The fair value of oil and gas properties and asset retirement obligations were measured using the discounted cash flow technique of valuation. Significant inputs to the valuation of oil and gas properties include estimates of: (i) reserves, (ii) future operating and development costs, (iii) future commodity prices, (iv) future plugging and abandonment costs, (v) estimated future cash flows, and (vi) a market-based weighted average cost of capital rate. Purchase Price Allocation (in thousands) Fair value of assets acquired: Proved oil and gas properties $ 718,159 Accounts receivable and other 95,847 Total assets acquired $ 814,006 Fair value of liabilities assumed: Asset retirement obligations $ 28,342 Accounts payable and accrued liabilities 113,704 Deferred tax liabilities 206,593 Total liabilities assumed $ 348,639 Purchase price: Cash consideration paid $ 455,886 Transaction related costs 9,481 Total purchase price $ 465,367 As a result of the acquisition of Anadarko WCTP, we have included $104.4 million of revenues and $10.3 million of direct operating expenses in our consolidated statements of operations for the period from October 13, 2021 to December 31, 2021. In 2021, at the conclusion of the second exploration period, Block C13 offshore Mauritania was relinquished. 2020 Transactions During 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 potential contingent consideration is payable by Shell depending on the results of the first four exploration wells drilled by Shell in the purchased assets, excluding South Africa. Upon approval of the relevant operating committee of an appraisal plan for submission to the relevant governmental authority under the relevant host government contract for any of the first four exploration wells, Shell will be required to pay Kosmos $50.0 million of consideration for each discovery for which an appraisal plan is approved by the relevant operating committee, capped in the aggregate at a maximum of $100.0 million. In February 2022, there was an oil discovery announced in Namibia on the first well drilled. Under the terms of Shell’s Petroleum Agreement with Namibia, if Shell decides to appraise the discovery, an appraisal plan is required to be submitted within 150 days from completion of tests on the discovery well. In October 2020, Kosmos withdrew from Block C6 offshore Mauritania. In May 2020, a withdrawal notice for our blocks offshore Cote d'Ivoire was issued to partners and the Government of Cote d’Ivoire. In July 2020, we provided notice that we declined to enter the final exploration phase of the Suriname Block 45 petroleum agreement. 2019 Transactions In March 2019, we completed an agreement to acquire Ophir's remaining interest in Block EG-24, offshore Equatorial Guinea, which increased our participating interest to 80% and named Kosmos as operator. The Equatorial Guinean national oil company, GEPetrol, has a 20% carried interest during the exploration period. Should a commercial discovery be made, GEPetrol's 20% carried interest will convert to a 20% participating interest.

Joint Interest Billings and Lon

Joint Interest Billings and Long-term Receivables	12 Months Ended
	Dec. 31, 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 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 December 31, 2021 and 2020, the current portion of the joint interest billing receivables due from GNPC for the TEN fields' development costs were $7.9 million and $5.8 million, respectively, and the long-term portion were $20.9 million and $21.2 million. Notes Receivables In February 2019, Kosmos signed Carry Advance Agreements with the national oil companies of Mauritania and Senegal obligating us to finance a portion of the respective national oil company’s share of certain development costs incurred through first gas production for Greater Tortue Ahmeyim Phase 1, currently projected in the third quarter of 2023. Kosmos’ share for the two agreements combined is currently estimated at approximately $240.0 million, which is to be repaid with interest through the national oil companies’ share of future revenues. As of December 31, 2021 and 2020, the balance due from the national oil companies was $145.2 million, and $96.3 million, respectively, which is classified as Long-term receivables in our consolidated balance sheets. Interest income on the long-term notes receivable was $7.1 million, $3.8 million and $0.5 million for the years ended December 31, 2021, 2020 and 2019, respectively. 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	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment is stated at cost and consisted of the following: December 31, 2021 2020 (In thousands) Oil and gas properties: Proved properties $ 6,725,453 $ 5,369,737 Unproved properties 451,454 495,390 Total oil and gas properties 7,176,907 5,865,127 Accumulated depletion (2,999,584) (2,554,851) Oil and gas properties, net 4,177,323 3,310,276 Other property 58,598 59,949 Accumulated depreciation (51,934) (49,312) Other property, net 6,664 10,637 Property and equipment, net $ 4,183,987 $ 3,320,913 We recorded depletion expense of $442.3 million, $460.9 million and $542.9 million and depreciation expense of $3.9 million, $5.5 million and $6.9 million for the years ended December 31, 2021, 2020 and 2019, respectively. During the years ended December 31, 2021, 2020 and 2019, we recorded asset impairments totaling zero, $154.0 million and zero, 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	12 Months Ended
	Dec. 31, 2021
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Suspended Well Costs	Suspended Well Costs The Company capitalizes exploratory well costs as unproved properties within oil and gas properties until a determination is made that the well has either found proved reserves or is impaired. If proved reserves are found, the capitalized exploratory well costs are reclassified to proved properties. Well costs are charged to exploration expense if the exploratory well is determined to be impaired. The following table reflects the Company’s capitalized exploratory well costs on drilled wells as of and during the years ended December 31, 2021, 2020 and 2019. Years Ended December 31, 2021 2020 2019 (In thousands) Beginning balance $ 186,289 $ 445,790 $ 367,665 Additions to capitalized exploratory well costs pending the determination of proved reserves 31,891 4,001 78,125 Reclassification due to determination of proved reserves(1) — (263,502) — Capitalized exploratory well costs charged to expense — — — Ending balance $ 218,180 $ 186,289 $ 445,790 ______________________________________ (1) Represents the reclassification of exploratory well costs associated with the Greater Tortue Ahmeyim Unit as a result of the execution of the Tortue Phase 1 SPA in February 2020. The following table provides 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: Years Ended December 31, 2021 2020 2019 (In thousands, except well counts) Exploratory well costs capitalized for a period of one year or less $ 20,903 $ — $ 40,313 Exploratory well costs capitalized for a period of one to three years 30,389 66,573 279,861 Exploratory well costs capitalized for a period of four to six years 166,888 119,716 125,616 Ending balance $ 218,180 $ 186,289 $ 445,790 Number of projects that have exploratory well costs that have been capitalized for a period greater than one year 3 3 3 As of December 31, 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 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. In 2021, we continued progressing appraisal studies and maturing concept design. We are currently in discussions with the government of Mauritania to extend the exploration phase of Block C8 which is currently set to expire in June 2022. As of December 31, 2021, capitalized costs related to BirAllah and Orca discoveries approximates $62.0 million 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. In 2021, we continued progressing appraisal studies and maturing concept design. 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, in 2021 engineering continues to progress 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.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases We have commitments under operating leases primarily related to office leases. Our leases have initial lease terms ranging from one year to ten years. Certain lease agreements contain provisions for future rent increases. The components of lease cost for the years ended December 31, 2021 and 2020 is as follows: December 31, 2021 2020 (In thousands) Operating lease cost $ 3,971 $ 4,076 Variable lease cost 1,780 1,793 Short-term lease cost(1) 10,790 13,705 Total lease cost $ 16,541 $ 19,574 __________________________________ (1) Includes $9.4 million and $12.6 million during the years ended December 31, 2021 and 2020, respectively, of costs associated with short-term drilling contracts. Other information related to operating leases at December 31, 2021 and 2020, is as follows: December 31 2021 2020 (In thousands, except lease term and discount rate) Balance sheet classifications Other assets (right-of-use assets) $ 17,578 $ 19,799 Accrued liabilities (current maturities of leases) 1,905 1,405 Other long-term liabilities (non-current maturities of leases) 20,351 22,771 Weighted average remaining lease term 7.5 years 8.4 years Weighted average discount rate 9.8 % 9.8 % The table below presents supplemental cash flow information related to leases during the years ended December 31, 2021 and 2020: December 31, 2021 2020 (In thousands) Operating cash flows for operating leases $ 6,460 $ 5,225 Investing cash flows for operating leases(1) 9,350 12,586 __________________________________ (1) Represents costs associated with short-term drilling contracts. Future minimum rental commitments under our leases at December 31, 2021, are as follows: Operating Leases(1) (In thousands) 2022 $ 3,974 2023 4,077 2024 4,148 2025 4,219 2026 4,290 Thereafter 10,874 Total undiscounted lease payments $ 31,582 Less: Imputed interest (9,326) Total lease liabilities $ 22,256 __________________________________ (1) Does not include purchase commitments for jointly owned fields and facilities where we are not the operator and excludes commitments for exploration activities, including well commitments, in our petroleum contracts.

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt December 31, 2021 2020 (In thousands) Outstanding debt principal balances: Facility $ 1,000,000 $ 1,200,000 Corporate Revolver — 100,000 7.125% Senior Notes 650,000 650,000 7.750% Senior Notes 400,000 — 7.500% Senior Notes 450,000 — GoM Term Loan 175,000 200,000 Total 2,675,000 2,150,000 Unamortized deferred financing costs and discounts(1) (54,505) (38,569) Total debt, net 2,620,495 2,111,431 Less: Current maturities of long-term debt (30,000) (7,500) Long-term debt, net $ 2,590,495 $ 2,103,931 ________________________________________ (1) Includes $31.0 million and $25.6 million of unamortized deferred financing costs related to the Facility; $20.2 million and $8.4 million of unamortized deferred financing costs and discounts related to the Senior Notes; and $3.3 million and $4.6 million of unamortized deferred financing costs related to the GoM Term Loan as of December 31, 2021 and December 31, 2020, respectively. Facility The Facility supports our oil and gas exploration, appraisal and development programs and corporate activities with a borrowing base calculation that includes value related to the Jubilee, TEN, Ceiba and Okume fields, however, the additional interests in Jubilee and TEN acquired in the recent acquisition of Anadarko WCTP are not included in the borrowing base calculation. 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 available borrowing base was approximately $1.24 billion. As part of the amendment, the Company incurred $15.2 million for loss on extinguishment of debt during the year ended December 31, 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. As of December 31, 2021, borrowings under the Facility totaled $1.0 billion and the undrawn availability under the Facility was $235.2 million, (limited by current commitments). 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, the 7.750% Senior Notes and the 7.500% Senior Notes plus the Corporate Revolver or the Facility, whichever is greater. As of December 31, 2021, we exceeded this ratio and restricted approximately $42.9 million in cash to meet our requirements. In the first quarter of 2022 we restricted an additional $16.2 million in cash. Interest on the Facility is the aggregate of the applicable margin (3.75% to 5.00%, depending on the length of time that has passed from the date the Facility was entered into) and LIBOR. Interest is payable on the last day of each interest period (and, if the interest period is longer than six months, on the dates falling at six-month intervals after the first day of the interest period). We pay commitment fees on the undrawn and unavailable portion of the total commitments, if any. Commitment fees are equal to 30% per annum of the then-applicable respective margin when a commitment is available for utilization and, equal to 20% per annum of the then-applicable respective margin when a commitment is not available for utilization. We recognize interest expense in accordance with ASC 835—Interest, which requires interest expense to be recognized using the effective interest method. We determined the effective interest rate based on the estimated level of borrowings under the Facility. The Facility provides a revolving credit and letter of credit facility. The availability period for the revolving credit facility expires one month prior to the final maturity date. The letter of credit facility expires on the final maturity date. The available facility amount is subject to borrowing base constraints and, beginning on March 31, 2024, outstanding borrowings will be constrained by an amortization schedule. The Facility has a final maturity date of March 31, 2027. As of December 31, 2021, we had no letters of credit issued under the Facility. We have the right to cancel all the undrawn commitments under the amended and restated Facility. The amount of funds available to be borrowed under the Facility, also known as the borrowing base amount, is determined every March and September. The borrowing base amount is based on the sum of the net present values of net cash flows and relevant capital expenditures reduced by certain percentages as well as value attributable to certain assets’ reserves and/or resources in Ghana and Equatorial Guinea, however, the additional interests in Jubilee and TEN acquired in the recent acquisition of Anadarko WCTP are not included in the borrowing base calculation. If an event of default exists under the Facility, the lenders can accelerate the maturity and exercise other rights and remedies, including the enforcement of security granted pursuant to the Facility over certain assets held by our subsidiaries. We were in compliance with the financial covenants below contained in the Facility as of September 30, 2021 (the most recent assessment date), which requires the maintenance of: • the field life cover ratio (as defined in the glossary), not less than 1.30x; and • the loan life cover ratio (as defined in the glossary), not less than 1.10x; and • the interest cover ratio (as defined in the glossary), not less than 2.25x; and • the debt cover ratio (as defined in the glossary), not more than 4.0x as amended. The Facility 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 100 basis points 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 December 31, 2021, we have $1.1 million of net deferred financing costs related to the Corporate Revolver, which will be amortized over the remaining term. These deferred financing costs are included in the Other assets section of our consolidated balance sheets. As of December 31, 2021, there were no outstanding borrowings under the Corporate Revolver and the undrawn availability under the Corporate Revolver was $400.0 million. Interest is the aggregate of the applicable margin (5.0%); LIBOR; and mandatory cost (if any, as defined in the Corporate Revolver). Interest is payable on the last day of each interest period (and, if the interest period is longer than six months, on the dates falling at six‑month intervals after the first day of the interest period). We pay commitment fees on the undrawn portion of the total commitments. Commitment fees for the lenders are equal to 30% per annum of the respective margin when a commitment is available for utilization. The Corporate Revolver expires on May 31, 2022. The available amount is not subject to borrowing base constraints. we have the right to cancel all the undrawn commitments under the Corporate Revolver. We are required to repay certain amounts due under the Corporate Revolver with sales of certain subsidiaries or sales of certain assets. If an event of default exists under the Corporate Revolver, the lenders can accelerate the maturity and exercise other rights and remedies, including the enforcement of security granted pursuant to the Corporate Revolver over certain assets held by us. We were in compliance with the financial covenants below contained in the Corporate Revolver as of September 30, 2021 (the most recent assessment date), which requires the maintenance of: • the interest cover ratio (as defined in the glossary), not less than 2.25x; and • the debt cover ratio (as defined in the glossary), not more than 4.0x as amended. The Corporate Revolver contains customary cross default provisions. 7.875% Senior Secured Notes due 2021 In April 2019, all of the 7.875% Senior Secured Notes were redeemed for $543.8 million, including accrued interest and the early redemption premium. The redemption resulted in a $22.9 million loss on extinguishment of debt, which is included in Interest and other financing costs, net on the consolidated statement of operations for the year ended December 31, 2019. 7.125% Senior Notes due 2026 In April 2019, the Company issued $650.0 million of 7.125% Senior Notes and received net proceeds of approximately $640.0 million after deducting commissions and other expenses. We used the net proceeds to redeem all of the 7.875% Senior Secured Notes, 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. We will pay interest in arrears on the 7.125% Senior Notes 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, the 7.750% Senior Notes and the 7.500% Senior Notes ) and rank effectively junior in right of payment to all of its existing and future secured indebtedness (including all borrowings under the Facility) and all borrowings under the GoM Term Loan. The 7.125% Senior Notes are guaranteed on a senior, unsecured basis by certain subsidiaries owning the Company's U.S. Gulf of Mexico assets and the interests acquired in the Anadarko WCTP acquisition, and on a subordinated, unsecured basis by certain subsidiaries that borrow under, or guarantee, the Facility and that guarantee the Corporate Revolver, the 7.750% Senior Notes and the 7.500% Senior Notes. At any time prior to April 4, 2022, and subject to certain conditions, the Company may, on one or more occasions, redeem up to 40% of the original principal amount of the 7.125% Senior Notes with an amount not to exceed the net cash proceeds of certain equity offerings at a redemption price of 107.125% of the outstanding principal amount of the 7.125% 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 April 4, 2022 the Company may, on any one or more occasions, redeem all or a part of the 7.125% Senior Notes at a redemption price equal to 100%, plus any accrued and unpaid interest, and plus a “make-whole” premium. On or after April 4, 2022, the Company may redeem all or a part of the 7.125% 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 April 4, 2022 103.563 % On or after April 4, 2023 101.781 % On or after April 4, 2024 100.000 % We may also redeem the 7.125% 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 7.125% Senior Notes at a price equal to the principal amount of the 7.125% 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 7.125% 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 7.125% Senior Notes indenture, the Company will be required to make an offer to repurchase the 7.125% 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 7.125% Senior Notes indenture, we will be required to use the net proceeds to make an offer to purchase the 7.125% Senior Notes at an offer price in cash in an amount equal to 100% of the principal amount of the 7.125% Senior Notes, plus accrued and unpaid interest to, but excluding, the repurchase date. The 7.125% 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. These covenants are subject to a number of important qualifications and exceptions. Certain of these covenants will be terminated if the 7.125% 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 and is continuing. The 7.125% Senior Notes contain customary cross default provisions. 7.750% Senior Notes due 2027 In October 2021, the Company issued $400.0 million of 7.750% Senior Notes and received net proceeds of approximately $395.0 million after deducting fees. We used the net proceeds, together with cash on hand, to refinance the Bridge Notes and to pay expenses related to the issuance of the 7.750% Senior Notes. The 7.750% Senior Notes mature on May 1, 2027. Interest is payable in arrears each May 1 and November 1, commencing on May 1, 2022. The 7.750% Senior Notes are senior, unsecured obligations of Kosmos Energy Ltd. and rank equal in right of payment with all of its existing and future senior indebtedness (including all borrowings under the Corporate Revolver, the 7.125% Senior Notes and the 7.500% Senior Notes) and rank effectively junior in right of payment to all of its existing and future secured indebtedness (including all borrowings under the Facility) and all borrowings under the GoM Term Loan. The 7.750% Senior Notes are guaranteed on a senior, unsecured basis by certain subsidiaries owning the Company's U.S. Gulf of Mexico assets and the interests acquired in the Anadarko WCTP acquisition, and on a subordinated, unsecured basis by certain subsidiaries that borrow under, or guarantee, the Facility and that guarantee the Corporate Revolver, the 7.125% Senior Notes and the 7.500% Senior Notes. At any time prior to November 1, 2023, and subject to certain conditions, the Company may, on one or more occasions, redeem up to 40% of the original principal amount of the 7.750% Senior Notes with an amount not to exceed the net cash proceeds of certain equity offerings at a redemption price of 107.750% of the outstanding principal amount of the 7.750% 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 November 1, 2023 the Company may, on any one or more occasions, redeem all or a part of the 7.750% Senior Notes at a redemption price equal to 100%, plus any accrued and unpaid interest, and plus a “make-whole” premium. On or after November 1, 2023, the Company may redeem all or a part of the 7.750% 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 November 1, 2023 103.875 % On or after November 1, 2024 101.938 % On or after November 1, 2025 100.000 % We may also redeem the 7.750% 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 7.750% Senior Notes at a price equal to the principal amount of the 7.750% 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 7.750% 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 7.750% Senior Notes indenture, the Company will be required to make an offer to repurchase the 7.750% 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 7.750% Senior Notes indenture, we will be required to use the net proceeds to make an offer to purchase the 7.750% Senior Notes at an offer price in cash in an amount equal to 100% of the principal amount of the 7.750% Senior Notes, plus accrued and unpaid interest to, but excluding, the repurchase date. The 7.750% 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. These covenants are subject to a number of important qualifications and exceptions. Certain of these covenants will be terminated if the 7.750% 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 and is continuing. The 7.750% Senior Notes contain customary cross default provisions. 7.500% Senior Notes due 2028 In March 2021, the Company issued $450.0 million of 7.500% Senior Notes and received net proceeds of approximately $444.4 million after deducting fees. 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, the 7.125% Senior Notes and the 7.750% Senior Notes) and rank effectively junior in right of payment to all of its existing and future secured indebtedness (including all borrowings under the Facility) and all borrowings under the GoM Term Loan. The 7.500% Senior Notes are guaranteed on a senior, unsecured basis by certain subsidiaries owning the Company's U.S. Gulf of Mexico assets and the interests acquired in the Anadarko WCTP acquisition, and on a subordinated, unsecured basis by certain subsidiaries that borrow under, or guarantee, the Facility and that guarantee the Corporate Revolver, the 7.125% Senior Notes and the 7.750% 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 103.750 % On or after March 1, 2025 101.875 % On or after March 1, 2026 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. These covenants are subject to a number of important qualifications and exceptions. 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 and is continuing. The 7.500% Senior Notes contain customary cross default provisions. Bridge Notes In connection with the completion of the acquisition of additional interests in Ghana, the Company issued $400 million aggregate principal amount of floating rate senior notes due 2022 (the “Bridge Notes”) in a private placement to Barclays Bank PLC and Standard Chartered Bank. In October 2021, the Company refinanced the Bridge Notes with the 7.750% Senior Notes. As a result, the Company incurred a $4.4 million loss on extinguishment of debt, which is included in Interest and other financing costs, net on the consolidated statement of operations for the year ended December 31, 2021. Production Prepayment Agreement, net In June 2020, the Company received $50 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 has terminated the Production Prepayment Agreement and the initial prepayment of $50 million advanced under the Production Prepayment Agreement by Trafigura in the second quarter of 2020 has been 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 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 million subject to certain conditions. The net proceeds were used to pay down a portion of the Facility and to fund U.S. Gulf of Mexico working capital and general operating expenses. The $50 million advanced under the Production Prepayment Agreement with Trafigura in the second quarter of 2020 has been extinguished and converted as part of the GoM Term Loan. 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. During the fourth quarter of 2021, the Company made principal repayments totaling $25 million on the GoM Term Loan, of which $7.5 million was regular scheduled maturity and $17.5 million as a voluntary early repayment. As of December 31, 2021, borrowings under the GoM Term Loan totaled $175 million. The GoM Term Loan contains customary affirmative and negative covenants, including covenants that affect our ability to incur additional indebtedness, create liens, merge, dispose of assets, and make distributions, dividends, investments or capital expenditures, among other things. The GoM Term Loan is guaranteed on a senior, secured basis by certain subsidiaries owning the Company's U.S. Gulf of Mexico assets. The GoM Term Loan includes certain representations and warranties, indemnities and events of default that, subject to certain materiality thresholds and grace periods, arise as a result of a payment default, failure to comply with covenants, material inaccuracy of representation or warranty, and certain bankruptcy or insolvency proceedings. If there is an event of default, all or any portion of the outstanding indebtedness may be immediately due and payable and other rights may be exercised including against the collateral. At December 31, 2021, the estimated repayments of debt during the five years and thereafter are as follows: Payments Due by Year Total 2022 2023 2024 2025 2026 Thereafter (In thousands) Principal debt repayments(1) $ 2,675,000 $ 30,000 $ 30,000 $ 337,785 $ 327,977 $ 939,350 $ 1,009,888 _______________________________________ (1) Includes the scheduled maturities for outstanding principal debt balances. The scheduled maturities of debt related to the Facility as of December 31, 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. Interest and other financing costs, net Interest and other financing costs, net incurred during the period comprised of the following: Years Ended December 31, 2021 2020 2019 (In thousands) Interest expense $ 146,706 $ 119,857 $ 145,507 Amortization—deferred financing costs 10,580 9,347 9,257 Loss on extinguishment of debt 19,625 2,902 24,794 Capitalized interest (46,098) (25,013) (28,077) Deferred interest (3,401) 2,402 1,919 Interest income (10,257) (4,773) (3,692) Other, net 11,216 5,072 5,366 Interest and other financing costs, net $ 128,371 $ 109,794 $ 155,074 Capitalized interest for the years ended December 31, 2021, 2020 and 2019 was $46.1 million, $25.0 million and $28.1 million, respectively, primarily related to spend on the Greater Tortue Ahmeyim project.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 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 Measurements and Disclosures. 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 December 31, 2021. Volumes and weighted average prices are net of any offsetting derivative contracts entered into. Weighted Average Price per Bbl Term Type of Contract Index MBbl Net Deferred Premium Payable/(Receivable) Swap Sold Put Floor Ceiling 2022: January — December Three-way collars Dated Brent 4,500 $ 0.64 $ — $ 43.33 $ 56.67 $ 76.91 January — December Three-way collars NYMEX WTI 1,000 1.45 — 50.00 65.00 85.00 January — December Two-way collars Dated Brent 7,000 1.12 — — 63.57 84.29 January — December Sold calls(1) Dated Brent 1,581 — — — — 60.00 ______________________________________ (1) Represents call option contracts sold to counterparties to enhance other derivative positions. In January 2022, we entered into Dated Brent three-way collar contracts for 2.0 MMBbl from January 2023 through December 2023 with an average sold put price of $47.50 per barrel, a floor price of $65.00 per barrel and an average ceiling price of $95.25 per barrel. See Note 10—Fair Value Measurements for additional information regarding the Company’s derivative instruments. The following tables disclose the Company’s derivative instruments as of December 31, 2021 and 2020 and gain/(loss) from derivatives during the years ended December 31, 2021, 2020 and 2019. Estimated Fair Value Asset (Liability) December 31, Type of Contract Balance Sheet Location 2021 2020 (In thousands) Derivatives not designated as hedging instruments: Derivative assets: Commodity Derivatives assets—current $ 5,689 $ 15,414 Provisional oil sales Receivables: Oil sales (853) (677) Commodity Derivatives assets—long-term 1,026 964 Derivative liabilities: Commodity Derivatives liabilities—current (65,879) (28,009) Commodity Derivatives liabilities—long-term (6,298) (8,069) Total derivatives not designated as hedging instruments $ (66,315) $ (20,377) Amount of Gain/(Loss) Years Ended December 31, Type of Contract Location of Gain/(Loss) 2021 2020 2019 (In thousands) Derivatives not designated as hedging instruments: Commodity(1) Oil and gas revenue $ (7,520) $ (5,620) $ 1,161 Commodity Derivatives, net (270,185) (17,180) (71,885) Total derivatives not designated as hedging instruments $ (277,705) $ (22,800) $ (70,724) ______________________________________ (1) Amounts represent the change in fair value of our provisional oil sales contracts. 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 December 31, 2021 and 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	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements In accordance with ASC 820—Fair Value Measurements, 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 December 31, 2021 and 2020, for each fair value hierarchy level: Fair Value Measurements Using: Quoted Prices in Active Markets for Identical Assets Significant Other Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total (In thousands) December 31, 2021 Assets: Commodity derivatives $ — $ 6,715 $ — $ 6,715 Provisional oil sales — (853) — (853) Liabilities: Commodity derivatives — (72,177) — (72,177) Total $ — $ (66,315) $ — $ (66,315) 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 doubtful accounts, 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 9—Derivative Financial Instruments for additional information regarding the Company’s derivative instruments. Provisional Oil Sales The value attributable to the provisional oil sales derivative 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 December 31, 2021 and 2020: December 31, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value (In thousands) 7.125% Senior Notes $ 644,572 $ 632,587 $ 643,524 $ 613,412 7.750% Senior Notes 395,131 386,428 — — 7.500% Senior Notes 444,892 424,688 — — GoM Term Loan 175,000 175,000 200,000 200,000 Corporate Revolver — — 100,000 100,000 Facility 1,000,000 1,000,000 1,200,000 1,200,000 Total $ 2,659,595 $ 2,618,703 $ 2,143,524 $ 2,113,412 The carrying values of our 7.125% Senior Notes, 7.750% Senior Notes and 7.500% Senior Notes represent the principal amounts outstanding less unamortized discounts. The fair values of our 7.125% Senior Notes, 7.750% Senior Notes and 7.500% Senior Notes are based on quoted market prices, which results in a Level 1 fair value measurement. The carrying values of the GoM Term Loan, 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. As part of our impairment analysis, the average per barrel Dated Brent price of third-party industry forecasts used for purposes of determining discounted future cash flows ranged from the mid-$30s in 2020 increasing to the mid-$50s over several years. The expected future cash flows were discounted using a rate of approximately 10 percent, which the Company believes is a market-based weighted average cost of capital for industry peers determined appropriate at the time of the valuation. These impairment charges are included in Impairments of long-lived assets on the consolidated statement of operations.

Asset Retirement Obligations

Asset Retirement Obligations	12 Months Ended
	Dec. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The following table summarizes the changes in the Company’s asset retirement obligations: December 31, 2021 2020 (In thousands) Asset retirement obligations: Beginning asset retirement obligations $ 251,421 $ 235,053 Liabilities incurred during period 38,967 3,436 Liabilities settled during period (8,705) (2,782) Revisions in estimated retirement obligations 22,744 (3,736) Accretion expense 21,032 19,450 Ending asset retirement obligations $ 325,459 $ 251,421

Equity-based Compensation

Equity-based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Equity-based Compensation	Equity‑based Compensation Restricted Stock Awards and Restricted Stock Units Our Long-Term Incentive Plan (“LTIP”) provides for the granting of incentive awards in the form of stock options, stock appreciation rights, restricted stock awards, restricted stock units, among other award types. In April 2021, the board of directors approved amendments to the LTIP which added 11.0 million shares to the LTIP which were approved at the corresponding Annual Stockholders Meeting. The LTIP as amended provides for the issuance of 61.5 million shares pursuant to awards under the LTIP. As of December 31, 2021, the Company had approximately 11.0 million shares that remain available for issuance under the LTIP. The Company granted restricted stock units with service vesting criteria and with a combination of market and service vesting criteria under the LTIP. Substantially, all of these awards vest over a three year period. Upon vesting, restricted stock units become issued and outstanding stock. The following table reflects the outstanding restricted stock units as of December 31, 2021: Service Vesting Weighted- Average Grant-Date Fair Value Market / Service Vesting Restricted Stock Units Weighted-Average Grant-Date Fair Value (In thousands) (In thousands) Outstanding at December 31, 2018: 4,115 $ 6.42 6,716 $ 9.02 Granted 3,228 5.01 3,195 6.02 Forfeited (591) 5.90 (813) 7.93 Vested (2,021) 5.95 (1,300) 6.32 Outstanding at December 31, 2019: 4,731 5.71 7,798 8.42 Granted 3,481 5.48 3,394 8.37 Forfeited (1,187) 6.12 (726) 8.03 Vested (2,185) 5.91 (2,607) 9.47 Outstanding at December 31, 2020: 4,840 5.34 7,859 8.11 Granted 2,905 2.57 6,744 3.91 Forfeited (649) 4.05 (1,998) 5.50 Vested (2,400) 5.19 (1,372) 9.95 Outstanding at December 31, 2021: 4,696 3.88 11,233 5.28 As of December 31, 2021, total equity‑based compensation to be recognized on unvested restricted stock units is $18.9 million over a weighted average period of 1.6 years. For restricted stock units with a combination of market and service vesting criteria, the number of shares of common stock 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 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 utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the award grant and calculates 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 ranged from 0.2% to 2.5% for restricted stock units. The expected quarterly dividends ranged from $0.000 to $0.050 commensurate with our current dividend experience. In January 2022, we granted 2.5 million service vesting restricted stock units and 3.3 million market and service vesting restricted stock units to our employees under our long-term incentive plan. We expect to recognize approximately $34.2 million of non-cash compensation expense related to these grants over the next three years. We record equity-based compensation expense equal to the grant date fair value of share‑based payments over the vesting periods of the LTIP awards. The following table summarizes certain information related to our share-based payments: Years Ended December 31, 2021 2020 2019 (In thousands) Share-based compensation expense $ 31,651 $ 32,706 $ 32,370 Total tax benefit 5,786 4,694 4,898 Net tax shortfall (windfall) 6,307 1,175 1,224 Fair value of awards vested 9,435 26,039 20,253

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We provide for income taxes based on the laws and rates in effect in the countries in which our operations are conducted. The relationship between our pre‑tax income or loss from continuing operations and our income tax expense or benefit varies from period to period as a result of various factors which include changes in total pre‑tax income or loss, the jurisdictions in which our income (loss) is earned and the tax laws in those jurisdictions. In March 2020, the Coronavirus Aid, Relief, and Economic Security ACT (“CARES Act”) became law. Among other things, the CARES Act permits taxpayers to carry back U.S. taxable losses generated during tax years 2018 through 2020 to the five tax years preceding the loss year to obtain tax refunds. Certain of our U.S. legal entities qualify for such relief and we recorded a current tax benefit of $4.9 million during the first quarter of 2020, with a total $12.2 million income tax refund claim. Other provisions of the CARES Act are not expected to have a material impact to our tax expense. The components of loss before income taxes were as follows: Years Ended December 31, 2021 2020 2019 (In thousands) United States $ (75,948) $ (338,746) $ (149,919) Foreign 32,568 (78,049) 175,036 Income (loss) before income taxes $ (43,380) $ (416,795) $ 25,117 The components of the provision for income taxes attributable to our income (loss) before income taxes consist of the following: Years Ended December 31, 2021 2020 2019 (In thousands) Current: United States $ 282 $ (12,208) $ 185 Foreign 103,348 49,586 171,079 Total current 103,630 37,378 171,264 Deferred: United States 1,202 34,831 (18,776) Foreign (70,376) (77,418) (71,594) Total deferred (69,174) (42,587) (90,370) Income tax expense (benefit) $ 34,456 $ (5,209) $ 80,894 Our reconciliation of income tax expense (benefit) computed by applying our statutory rate and the reported effective tax rate on income or (loss) from continuing operations is as follows: Years Ended December 31, 2021 2020 2019 (In thousands) Tax at statutory rate $ (9,110) $ (87,527) $ 5,275 Foreign income (loss) taxed at different rates 17,344 (1,771) 32,690 Net non-taxable expense / insurance recoveries — — (13,352) Non-deductible insurance premiums — — 2,625 Non-deductible compensation 2,775 890 3,545 Non-deductible and other items 1,719 387 3,998 Tax shortfall (windfall) on equity-based compensation, net 6,307 1,175 1,224 Change in valuation allowance 15,421 86,539 44,889 U.S. tax loss carryback rate differential — (4,902) — Total tax expense $ 34,456 $ (5,209) $ 80,894 Effective tax rate(1) 79 % 1 % 322 % ______________________________________ (1) The effective tax rate during the years ended December 31, 2021, 2020 and 2019, were impacted by (gains) and losses of $61.6 million, $(2.9) million and $132.1 million, respectively, incurred in jurisdictions in which we are not subject to taxes and therefore do not generate any income tax benefits or where there are valuation allowances offsetting the corresponding deferred tax assets. The effective tax rate for the United States is approximately 2%, 7% and 12% for the years ended December 31, 2021, 2020 and 2019, respectively. The effective tax rate in the United States is impacted by the effect of non-deductible expenditures and equity-based compensation tax shortfalls and tax windfalls equal to the difference between the income tax benefit recognized for financial statement reporting purposes compared to the income tax benefit realized for tax return purposes. For the years ended December 31, 2021, 2020 and 2019, our effective tax rate in the United States is impacted by valuation allowances on a portion of our deferred tax assets totaling $6.6 million, $96.6 million and $6.8 million, respectively. The effective tax rate for Ghana is approximately 35%, 35% and 29% for the years ended December 31, 2021, 2020 and 2019, respectively. The effective tax rate in Ghana is impacted by non-deductible expenditures. The effective tax rate for the year ended December 31, 2019 was impacted by amounts associated with damage to the turret bearing, which we expect to recover from insurance proceeds. Any such insurance recoveries would not be subject to income tax. The effective tax rate for Equatorial Guinea is approximately 35%, 34% and 37% for the years ended December 31, 2021, 2020 and 2019, respectively, and is impacted by non-deductible expenditures. Our operations in other foreign jurisdictions have a 0% effective tax rate because they reside in countries with a 0% statutory rate or we have incurred losses in those countries and have full valuation allowances against the corresponding net deferred tax assets. Deferred tax assets and liabilities, which are computed on the estimated income tax effect of temporary differences between financial and tax bases in assets and liabilities, are determined using the tax rates expected to be in effect when taxes are actually paid or recovered. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The tax effects of significant temporary differences giving rise to deferred tax assets and liabilities are as follows: December 31, 2021 2020 (In thousands) Deferred tax assets: Foreign capitalized operating expenses $ 172,836 $ 152,106 Foreign net operating losses 35,518 32,762 United States net operating losses 109,094 113,427 United States deferred interest expense 6,725 — Equity compensation 12,424 14,089 Unrealized derivative losses 21,710 3,482 Asset retirement obligation and other 55,859 41,759 Total deferred tax assets 414,166 357,625 Valuation allowance (318,343) (288,288) Total deferred tax assets, net 95,823 69,337 Deferred tax liabilities: Depletion, depreciation and amortization related to property and equipment (806,861) (642,956) Total deferred tax liabilities (806,861) (642,956) Net deferred tax liability $ (711,038) $ (573,619) The Company has foreign net operating loss carryforwards of $95.2 million. Of these losses, we expect $0.5 million, $0.6 million, $0.7 million, and $43.3 million to expire in 2022, 2023, 2024, and 2027 respectively, and $50.1 million do not expire. All of these losses currently have offsetting valuation allowances. The Company has $519.5 million of United States net operating loss that will not expire. The Company is open to tax examinations in the United States for federal income tax return years 2018 through 2020 in Ghana to federal income tax return years 2018 through 2020, and in Equatorial Guinea to federal income tax return years 2019-2020. As of December 31, 2021, the Company had no material uncertain tax positions. The Company’s policy is to recognize potential interest and penalties related to income tax matters in income tax expense.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share In the calculation of basic net income per share, participating securities are allocated earnings based on actual dividend distributions received plus a proportionate share of undistributed net income, if any. We calculate basic net income per share under the two‑class method. Diluted net income (loss) per share is calculated under both the two-class method and the treasury stock method and the more dilutive of the two calculations is presented. The computation of diluted net income (loss) per share reflects the potential dilution that could occur if all outstanding awards under our LTIP were converted into shares of common stock or resulted in the issuance of shares of common stock that would then share in the earnings of the Company. During periods in which the Company realizes a loss from continuing operations securities would not be dilutive to net loss per share and conversion into shares of common stock is assumed not to occur. Basic net income (loss) per share is computed as (i) net income (loss), (ii) less income allocable to participating securities (iii) divided by weighted average basic shares outstanding. The Company’s diluted net income (loss) per share is computed as (i) basic net income (loss), (ii) plus diluted adjustments to income allocable to participating securities (iii) divided by weighted average diluted shares outstanding. Years Ended December 31, 2021 2020 2019 (In thousands, except per share data) Numerator: Net loss allocable to common stockholders $ (77,836) $ (411,586) $ (55,777) Denominator: Weighted average number of shares outstanding: Basic 416,943 405,212 401,368 Restricted stock units(1)(2) — — — Diluted 416,943 405,212 401,368 Net loss per share: Basic $ (0.19) $ (1.02) $ (0.14) Diluted $ (0.19) $ (1.02) $ (0.14) ______________________________________ (1) Our restricted stock units are not considered to be participating securities and, therefore, are excluded from the basic net income (loss) per share calculation.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 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. The Jubilee Field in Ghana covers an area within both the WCTP and DT petroleum contract areas. It was agreed the Jubilee Field would be unitized for optimal resource recovery. Kosmos and its partners executed a comprehensive unitization and unit operating agreement, the Jubilee UUOA, to unitize the Jubilee Field and govern each party’s respective rights and duties in the Jubilee Unit, which was effective July 16, 2009. Pursuant to the terms of the Jubilee UUOA, the tract participations are subject to a process of redetermination. The initial redetermination process was completed on October 14, 2011. As a result of the initial redetermination process, our Unit Interest is 24.1%. Following the acquisition of Anadarko WCTP, which owned a participating interest in the WCTP Block and DT Block, our Unit Interest (participating interest in the Jubilee Unit) has since increased from 24.1% to 42.1%. These consolidated financial statements are based on these redetermined tract participations. Our unit interest may change in the future should another redetermination occur. Under the Deepwater Tano Block Joint Operating Agreement, certain joint venture partners have pre-emption rights that, if fully exercised and approved by the Government of Ghana, could reduce our ultimate interest in the Jubilee Unit Area by 3.8% to 38.3%. In November 2021, we received notice from certain joint venture partners that they intend to exercise their pre-emption rights in relation to Kosmos' acquisition of Anadarko WCTP. The exercise of pre-emption rights is subject to finalizing definitive agreements with Kosmos and requires approval from GNPC and the Ghanaian Ministry of Energy. The Greater Tortue Ahmeyim Unit, which includes the Ahmeyim discovery in Mauritania Block C8 and the Guembeul discovery in the Senegal Saint Louis Offshore Profond Block, straddles the border between Mauritania and Senegal. To optimize resource recovery in this field, we entered into the GTA UUOA in February 2019 with the governments of Mauritania and Senegal. The GTA UUOA governs interests in and development of the Greater Tortue Ahmeyim Field and created the Greater Tortue Ahmeyim Unit from portions of the Mauritania Block C8 and the Senegal Saint Louis Offshore Profond Block areas. These interest percentages are subject to redetermination of the participating interests in the Greater Tortue Ahmeyim Field pursuant to the terms of the GTA UUOA. These consolidated financial statements are based our current payment interest on development activities in the Greater Tortue Ahmeyim Unit of 26.7%. Our unit interest may change in the future should a redetermination occur. 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 December 31, 2021 and 2020, the Company had performance bonds totaling $195.5 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. Dividends On March 26, 2020, the quarterly cash dividend of $0.0452 per common share was paid to stockholders of record as of March 5, 2020. In March 2020, in response to economic conditions, including oil price volatility and the impact of COVID-19 pandemic, the Board of Directors decided to suspend the dividend. During the year ended December 31, 2019 we declared and issued cash dividends to stockholders totaling $0.1808 per common share.

Additional Financial Informatio

Additional Financial Information	12 Months Ended
	Dec. 31, 2021
Additional Financial Information
Additional Financial Information	Additional Financial Information Accrued Liabilities Accrued liabilities consisted of the following: December 31, 2021 2020 (In thousands) Accrued liabilities: Exploration, development and production $ 61,881 $ 89,162 Revenue payable 31,986 15,079 Current asset retirement obligations 3,222 7,255 General and administrative expenses 27,980 4,988 Interest 31,117 23,725 Income taxes 69,392 37,344 Taxes other than income 2,854 2,815 Derivatives 19,302 17,475 Other 2,936 5,417 $ 250,670 $ 203,260 Gain on sale of assets During the year ended December 31, 2020, we recognized a $92.1 million gain related to the farm down of interests in blocks offshore Sao Tome & Principe, Suriname and Namibia to Shell. During the year ended December 31, 2019, we recognized a $10.5 million gain related to the farm-out of Blocks 6 and 11 offshore Sao Tome and Principe. Facilities Insurance Modifications, net Facilities insurance modifications, net consists of costs associated with the long-term solution to convert the Jubilee FPSO to a permanently spread moored facility, net of any insurance reimbursements. Other Expenses, net Other expenses, net incurred during the period is comprised of the following: Years Ended December 31, 2021 2020 2019 (In thousands) Loss on disposal of inventory $ 1,239 $ 8,607 $ 4,590 Gain on insurance settlements — — (3,509) Loss on asset retirement obligations liability settlements 6,351 1,966 193 Restructuring charges 2,584 16,474 11,528 Other, net (63) 10,755 11,846 Other expenses, net $ 10,111 $ 37,802 $ 24,648

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information Kosmos is engaged in a single line of business, which is the exploration and development of oil and gas. At December 31, 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(2) Equatorial Guinea Mauritania / Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (in thousands) Years ended December 31, 2021 Revenues and other income: Oil and gas revenue $ 644,232 $ 260,520 $ — $ 427,261 $ — $ — $ 1,332,013 Gain on sale of assets — — — — 1,564 — 1,564 Other income, net 6 — — 1,279 395,073 (396,096) 262 Total revenues and other income 644,238 260,520 — 428,540 396,637 (396,096) 1,333,839 Costs and expenses: Oil and gas production 151,079 93,032 — 101,895 — — 346,006 Facilities insurance modifications, net (1,586) — — — — — (1,586) Exploration expenses 1,527 5,700 10,639 41,230 6,286 — 65,382 General and administrative 12,179 4,343 8,601 17,665 172,869 (124,128) 91,529 Depletion, depreciation and amortization 240,901 56,468 61 168,142 1,649 — 467,221 Impairment of long-lived assets — — — — — — — Interest and other financing costs, net(1) 51,279 (1,661) (44,831) 15,875 109,493 (1,784) 128,371 Derivatives, net — — — — 270,185 — 270,185 Other expenses, net 206,466 41,891 (2,189) 30,118 4,010 (270,185) 10,111 Total costs and expenses 661,845 199,773 (27,719) 374,925 564,492 (396,097) 1,377,219 Income (loss) before income taxes (17,607) 60,747 27,719 53,615 (167,855) 1 (43,380) Income tax expense (benefit) (4,290) 37,487 — (4,958) 6,217 — 34,456 Net income (loss) $ (13,317) $ 23,260 $ 27,719 $ 58,573 $ (174,072) $ 1 $ (77,836) Consolidated capital expenditures $ 575,472 $ 77,364 $ 170,690 $ 96,897 $ 3,791 $ — $ 924,214 As of December 31, 2021 Property and equipment, net $ 1,885,116 $ 460,975 $ 918,683 $ 901,392 $ 17,821 $ — $ 4,183,987 Total assets $ 3,125,835 $ 911,159 $ 1,346,622 $ 3,258,264 $ 17,108,138 $ (20,809,367) $ 4,940,651 ______________________________________ (1) Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside. (2) Includes activity related to our acquisition of additional interests in Ghana commencing October 13, 2021, the acquisition date. Additionally, the acquisition purchase price of $465.4 million is included in Consolidated capital expenditures. Ghana Equatorial Guinea Mauritania / Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (in thousands) Year ended December 31, 2020 Revenues and other income: Oil and gas revenue $ 366,515 $ 152,501 $ — $ 285,017 $ — $ — $ 804,033 Gain on sale of assets — — — 84 92,079 — 92,163 Other income, net 2 — — 280 120,135 (120,415) 2 Total revenues and other income 366,517 152,501 — 285,381 212,214 (120,415) 896,198 Costs and expenses: Oil and gas production 169,357 80,813 — 88,307 — — 338,477 Facilities insurance modifications, net 13,161 — — — — — 13,161 Exploration expenses 182 8,290 8,189 26,792 41,163 — 84,616 General and administrative 13,506 4,865 7,464 12,607 129,801 (96,101) 72,142 Depletion, depreciation and amortization 235,772 64,786 61 181,898 3,345 — 485,862 Impairment of long-lived assets — — — 153,959 — 153,959 Interest and other financing costs, net(1) 54,530 (1,248) (27,339) 17,373 73,612 (7,134) 109,794 Derivatives, net — — — — 17,180 — 17,180 Other expenses, net (27,925) 2,281 4,829 54,485 21,312 (17,180) 37,802 Total costs and expenses 458,583 159,787 (6,796) 535,421 286,413 (120,415) 1,312,993 Income (loss) before income taxes (92,066) (7,286) 6,796 (250,040) (74,199) — (416,795) Income tax expense (benefit) (30,486) 2,428 — 26,061 (3,212) — (5,209) Net income (loss) $ (61,580) $ (9,714) $ 6,796 $ (276,101) $ (70,987) $ — $ (411,586) Consolidated capital expenditures $ 44,146 $ 38,126 $ 126,803 $ 123,197 $ (58,293) $ — $ 273,979 As of December 31, 2020 Property and equipment, net $ 1,293,372 $ 426,365 $ 580,920 $ 998,204 $ 22,052 $ — $ 3,320,913 Total assets $ 1,397,802 $ 689,222 $ 823,411 $ 3,171,851 $ 12,654,827 $ (14,869,520) $ 3,867,593 ______________________________________ (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) Year ended December 31, 2019 Revenues and other income: Oil and gas revenue $ 738,909 $ 300,547 $ — $ 459,960 $ — $ — $ 1,499,416 Gain on sale of assets — — — — 10,528 — 10,528 Other income, net 5 — — 1,194 155,866 (157,100) (35) Total revenues and other income 738,914 300,547 — 461,154 166,394 (157,100) 1,509,909 Costs and expenses: Oil and gas production 188,207 90,607 — 123,799 — — 402,613 Facilities insurance modifications, net (24,254) — — — — — (24,254) Exploration expenses 204 13,350 11,181 115,765 40,455 — 180,955 General and administrative 18,618 6,643 8,222 25,456 159,539 (108,468) 110,010 Depletion, depreciation and amortization 268,866 75,565 62 214,592 4,776 — 563,861 Interest and other financing costs, net(1) 72,226 (634) (26,537) 21,266 95,887 (7,134) 155,074 Derivatives, net — — — 30,387 41,498 — 71,885 Other expenses, net 40,382 (563) 12,056 2,691 11,580 (41,498) 24,648 Total costs and expenses 564,249 184,968 4,984 533,956 353,735 (157,100) 1,484,792 Income (loss) before income taxes 174,665 115,579 (4,984) (72,802) (187,341) — 25,117 Income tax expense (benefit) 50,293 49,192 — (8,419) (10,172) — 80,894 Net income (loss) $ 124,372 $ 66,387 $ (4,984) $ (64,383) $ (177,169) $ — $ (55,777) Consolidated capital expenditures $ 98,285 $ 63,798 $ 12,556 $ 232,891 $ 33,206 $ — $ 440,736 As of December 31, 2019 Property and equipment, net $ 1,487,114 $ 464,420 $ 438,800 $ 1,216,453 $ 35,545 $ — $ 3,642,332 Total assets $ 1,654,266 $ 650,607 $ 581,317 $ 3,251,420 $ 12,144,312 $ (13,964,690) $ 4,317,232 ______________________________________ (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. Years Ended December 31, 2021 2020 2019 (In thousands) Consolidated capital expenditures: Consolidated Statements of Cash Flows - Investing activities: Oil and gas assets $ 472,631 $ 379,593 $ 352,013 Acquisition of oil and gas properties 465,367 — — Adjustments: Changes in capital accruals (18,534) (42,315) 33,717 Exploration expense, excluding unsuccessful well costs and leasehold impairments(1) 46,563 61,459 93,142 Capitalized interest (46,098) (25,013) (28,077) Proceeds on sale of assets (4,422) (99,337) (16,713) Other 8,707 (408) 6,654 Total consolidated capital expenditures $ 924,214 $ 273,979 $ 440,736 ______________________________________ (1) Unsuccessful well costs are included in oil and gas assets when incurred.

Condensed Parent Company Financ

Condensed Parent Company Financial Statements	12 Months Ended
	Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Schedule I - Condensed Parent Company Financial Statements	Schedule I—Condensed Parent Company Financial Statements Under the terms of agreements governing the indebtedness of subsidiaries of Kosmos Energy Ltd. for 2021, 2020 and 2019 (collectively “KEL,” the “Parent Company”), such subsidiaries may be restricted from making dividend payments, loans or advances to KEL. Schedule I of Article 5‑04 of Regulation S‑X requires the condensed financial information of the Parent Company to be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. The following condensed parent‑only financial statements of KEL have been prepared in accordance with Rule 12‑04, Schedule I of Regulation S‑X and included herein. The Parent Company’s 100% investment in its subsidiaries has been recorded using the equity basis of accounting in the accompanying condensed parent‑only financial statements. The condensed financial statements should be read in conjunction with the consolidated financial statements of Kosmos Energy Ltd. and subsidiaries and notes thereto. KOSMOS ENERGY LTD. CONDENSED PARENT COMPANY BALANCE SHEETS (In thousands, except share data) December 31, 2021 2020 Assets Current assets: Cash and cash equivalents $ 6,693 $ 1,166 Derivatives receivable - related party 1,474 — Prepaid expenses and other 957 908 Derivatives 5,689 — Derivatives—related party 1,217 2,502 Total current assets 16,030 4,576 Investment in subsidiaries at equity 2,092,915 1,034,226 Long-term note receivable from subsidiary — 176,540 Deferred financing costs, net of accumulated amortization of $19,912 and $17,296 at December 31, 2021 and December 31, 2020, respectively 1,090 3,706 Derivatives 1,026 — Derivatives—related party 84 140 Restricted cash 305 305 Long-term deferred tax asset 18,687 18,687 Total assets $ 2,130,137 $ 1,238,180 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 242 $ 153 Accounts payable to subsidiaries 80,595 38,558 Accrued liabilities 32,239 14,157 Derivatives 1,217 2,502 Derivatives - related party 5,689 — Total current liabilities 119,982 55,370 Long-term debt, net 1,479,808 741,606 Derivatives 84 140 Derivatives - related party 1,026 — Other long-term liabilities — 910 Shareholders’ equity: Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at December 31, 2021 and December 31, 2020 — — Common stock, $0.01 par value; 2,000,000,000 authorized shares; 496,152,331 and 449,718,317 issued at December 31, 2021 and December 31, 2020, respectively 4,962 4,497 Additional paid-in capital 2,473,674 2,307,220 Accumulated deficit (1,712,392) (1,634,556) Treasury stock, at cost, 44,263,269 shares at December 31, 2021 and 2020, respectively (237,007) (237,007) Total shareholders’ equity 529,237 440,154 Total liabilities and shareholders’ equity $ 2,130,137 $ 1,238,180 CONDENSED PARENT COMPANY STATEMENTS OF OPERATIONS (In thousands) Years Ended December 31, 2021 2020 2019 Revenues and other income: Oil and gas revenue $ — $ — $ — Other income—related party 20,307 2,642 — Total revenues and other income 20,307 2,642 — Costs and expenses: General and administrative 38,810 40,162 40,840 General and administrative recoveries—related party 79 4,112 (30,822) Interest and other financing costs, net 98,649 59,200 86,104 Interest and other financing costs, net—related party (2,446) (5,889) (7,144) Derivatives, net 20,307 2,642 — Other expenses, net (61) — 10 Equity in (earnings) losses of subsidiaries (57,195) 315,423 (15,064) Total costs and expenses 98,143 415,650 73,924 Loss before income taxes (77,836) (413,008) (73,924) Income tax expense — (1,422) (18,147) Net loss $ (77,836) $ (411,586) $ (55,777) Dividends declared per common share $ — $ 0.0452 $ 0.1808 CONDENSED PARENT COMPANY STATEMENTS OF CASH FLOWS (In thousands) Years Ended December 31, 2021 2020 2019 Operating activities Net loss $ (77,836) $ (411,586) $ (55,777) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Equity in (earnings) losses of subsidiaries (57,195) 315,423 (15,064) Equity-based compensation 31,651 32,706 32,370 Depreciation and amortization 5,638 8,644 5,039 Deferred income taxes — (1,422) (18,397) Other income—related party 6,582 (2,642) — Change in fair value on derivatives 20,307 2,642 — Cash settlements on derivatives (28,363) — — Loss on extinguishment of debt 4,403 — 22,913 Changes in assets and liabilities: Decrease in receivables 134 856 427 (Increase) decrease in prepaid expenses and other (49) (480) (115) Decrease due to/from related party 218,008 162,897 43,974 Increase (decrease) in accounts payable and accrued liabilities 18,003 2,509 (8,754) Net cash provided by (used in) operating activities 141,283 109,547 6,616 Investing activities Investment in subsidiaries (1,001,494) (190,089) 287,972 Net cash provided by (used in) investing activities (1,001,494) (190,089) 287,972 Financing activities Borrowings under long-term debt 100,000 100,000 — Payments on long-term debt (200,000) — (325,000) Net proceeds from issuance of senior notes 839,375 — 641,875 Redemption of senior secured notes — — (535,338) Net proceeds from issuance of common stock 136,006 — — Tax withholdings on restricted stock units (1,100) (4,947) (1,983) Dividends (512) (19,271) (72,599) Deferred financing costs (8,031) (496) (1,897) Net cash provided by (used in) financing activities 865,738 75,286 (294,942) Net increase (decrease) in cash and cash equivalents 5,527 (5,256) (354) Cash, cash equivalents and restricted cash at beginning of period 1,471 6,727 7,081 Cash, cash equivalents and restricted cash at end of period $ 6,998 $ 1,471 $ 6,727

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	Valuation and Qualifying Accounts For the Years Ended December 31, 2021, 2020 and 2019 Additions Description Balance January 1, Charged to Costs and Expenses Charged To Other Accounts Deductions From Reserves Balance December 31, 2021 Allowance for credit losses $ 5,675 $ 1,019 $ (1,505) $ — $ 5,189 Allowance for deferred tax assets $ 288,288 $ 30,055 $ — $ — $ 318,343 2020 Allowance for credit losses $ 2,748 $ 1,800 $ 1,127 $ — $ 5,675 Allowance for deferred tax assets $ 201,749 $ 86,539 $ — $ — $ 288,288 2019 Allowance for doubtful receivables $ 1,211 $ 1,324 $ 228 $ (15) $ 2,748 Allowance for deferred tax assets $ 156,860 $ 44,889 $ — $ — $ 201,749 Schedules other than Schedule I and Schedule II have been omitted because they are not applicable or the required information is presented in the consolidated financial statements or the notes to consolidated financial statements.

Accounting Policies (Policies)

Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of Kosmos Energy Ltd. and its wholly-owned subsidiaries. They also include the Company’s share of the undivided interest in certain assets, liabilities, revenues and expenses. Investments in corporate joint ventures, which we exercise significant influence over, are accounted for using the equity method of accounting. All intercompany transactions have been eliminated. Investments in companies that are partially owned by the Company are integral to the Company’s operations. The other parties, who also have an equity interest in these companies, are independent third parties that share in the business results according to their ownership. Kosmos does not invest in these companies in order to remove liabilities from its balance sheet.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities. These estimates could change materially if different information or assumptions were used. We base our assumptions and estimates on historical experience and other sources that we believe to be reasonable at the time. Actual results could differ from these estimates.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform with the current year presentation. Such reclassifications had no significant impact on our reported net loss, current assets, total assets, current liabilities, total liabilities, shareholders’ equity or cash flows, except as disclosed related to the adoption of recent accounting pronouncements.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted CashCash and cash equivalents includes 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, the 7.750% Senior Notes, and the 7.500% Senior Notes plus the Corporate Revolver or the Facility, whichever is greater. As of December 31, 2021, we exceeded this ratio and restricted approximately $42.9 million in cash to meet our requirements. In the first quarter of 2022 we restricted an additional $16.2 million in cash.
Receivables	ReceivablesOur receivables consist of joint interest billings, oil and gas sales, related party and other receivables. Receivables from joint interest owners are stated at amounts due, net of any allowances for doubtful accounts. As required by ASU 2016-13, "Measurement of Credit Losses on Financial Instruments", we determine our allowance based on historical experience, current conditions and reasonable and supportable forecasts by considering the length of time past due, future net revenues of the debtor’s ownership interest in oil and natural gas properties we operate, and the owner’s ability to pay its obligation, among other things.
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. We recorded write downs of $1.2 million, $8.6 million and $4.6 million during the years ended December 31, 2021, 2020 and 2019 for materials and supplies inventories as Other expenses, net in the consolidated statements of operations and other in the consolidated statements of cash flows.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.
Leases	Leases We account for leases in accordance with ASC Topic 842, Leases, (“ASC 842”). We determine if an arrangement is a lease at contract inception. In the normal course of business, the Company enters into various lease agreements for real estate and equipment related to its exploration, development and production activities that are currently accounted for as operating leases. Operating leases are included in Other assets, Accrued liabilities, and Other long-term liabilities on our consolidated balance sheets. The lease liabilities are initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. We monitor for events or changes in circumstances that require a reassessment of a lease. When a reassessment results in the re-measurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero. In that case, the amount of the adjustment that would result in a negative ROU asset balance is recorded in profit or loss.
Exploration and Development Costs	Exploration and Development Costs The Company follows the successful efforts method of accounting for its oil and gas properties. Acquisition costs for proved and unproved properties are capitalized when incurred. Costs of unproved properties are transferred to proved properties when a determination that proved reserves have been found. Exploration costs, including geological and geophysical costs and costs of carrying unproved properties, are expensed as incurred. Exploratory drilling costs are capitalized when incurred. If exploratory wells are determined to be commercially unsuccessful or dry holes, the applicable costs are expensed and recorded in exploration expense on the consolidated statement of operations. Costs incurred to drill and equip development wells, including unsuccessful development wells, are capitalized. Costs incurred to operate and maintain wells and equipment and to lift oil and natural gas to the surface are expensed as oil and gas production expense. The Company evaluates unproved property periodically for impairment. The impairment assessment considers results of exploration activities, commodity price outlooks, planned future sales or expiration of all or a portion of such projects. If it is determined that future appraisal drilling or development activities are unlikely to occur, the associated capitalized costs are recorded as exploration expense in the consolidated statement of operations.
Depletion, Depreciation and Amortization	Depletion, Depreciation and Amortization Proved properties and support equipment and facilities are depleted using the unit‑of‑production method based on estimated proved oil and natural gas reserves. Capitalized exploratory drilling costs that result in a discovery of proved reserves and development costs are depleted using the unit‑of‑production method based on estimated proved developed oil and natural gas reserves for the related field. Depreciation and amortization of other property is computed using the straight-line method over the assets’ estimated useful lives (not to exceed the lease term for leasehold improvements), ranging from one Years Leasehold improvements 1 to 8 Office furniture, fixtures and computer equipment 3 to 7 Amortization of deferred financing costs is computed using the straight‑line method over the life of the related debt.
Capitalized Interest	Capitalized Interest Interest costs from external borrowings are capitalized on major projects with an expected construction period of one year or longer. Capitalized interest is added to the cost of the underlying asset and is depleted on the unit‑of‑production method in the same manner as the underlying assets.
Asset Retirement Obligations	Asset Retirement Obligations The Company accounts for asset retirement obligations as required by ASC 410—Asset Retirement and Environmental Obligations. Under these standards, the fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. If a reasonable estimate of fair value cannot be made in the period the asset retirement obligation is incurred, the liability is recognized when a reasonable estimate of fair value can be made. If a tangible long‑lived asset with an existing asset retirement obligation is acquired, a liability for that obligation is recognized at the asset’s acquisition or in service date. In addition, a liability for the fair value of a conditional asset retirement obligation is recorded if the fair value of the liability can be reasonably estimated. We capitalize the asset retirement costs by increasing the carrying amount of the related long‑lived asset by the same amount as the liability. We record increases in the discounted abandonment liability resulting from the passage of time in depletion, depreciation and amortization in the consolidated statement of operations. Estimating the future restoration and removal costs requires management to make estimates and judgments because most of the removal obligations are many years in the future and contracts and regulations often have vague descriptions of what constitutes removal. Additionally, asset removal technologies and costs are constantly changing, as are regulatory, political, environmental, safety and public relations considerations. Inherent in the present value calculation are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit adjusted discount rates, timing of settlement and changes in the legal, regulatory, environmental and political environments. To the extent future revisions to these assumptions impact the present value of the existing asset retirement obligations, a corresponding adjustment is made to the oil and gas property balance.
Acquisition Accounting	Acquisition Accounting The purchase price in an acquisition (business combination or asset acquisition) is allocated to the assets acquired and liabilities assumed based on their relative fair values as of the acquisition date, which may occur many months after the deal announcement date. Therefore, while the consideration to be paid may be fixed, the fair value of the assets acquired, and liabilities assumed is subject to change during the period between the announcement date and the acquisition date. The most significant estimates in the allocation typically relate to the value assigned to future recoverable oil and natural gas reserves and unproved properties. As the allocation of the purchase price is subject to significant estimates and subjective judgments, the accuracy of this assessment is inherently uncertain.
Impairment of Long-lived Assets	Impairment of Long‑lived Assets We review our long‑lived assets for impairment when changes in circumstances indicate that the carrying amount of an asset may not be recoverable. ASC 360 — Property, Plant and Equipment requires an impairment loss to be recognized if the carrying amount of a long‑lived asset is not recoverable and exceeds its fair value. The carrying amount of a long‑lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. That assessment shall be based on the carrying amount of the asset at the date it is tested for recoverability, whether in use or under development. Assets to be disposed of and assets not expected to provide any future service potential to us are recorded at the lower of carrying amount or fair value. Oil and gas properties are grouped in accordance with ASC 932 — Extractive Activities-Oil and Gas. The basis for grouping is a reasonable aggregation of properties typically by field or by logical grouping of assets with significant shared infrastructure. For long-lived assets whereby the carrying value exceeds the estimated future undiscounted cash flows, the carrying amount is reduced to fair value. Fair value is generally estimated using the income approach described in the ASC 820 — Fair Value Measurement. If applicable, we utilize prices and other relevant information generated by market transactions involving assets and liabilities that are identical or comparable to the item being measured as the basis for determining fair value. The expected future cash flows used for impairment reviews and related fair value measurements are typically based on judgmental assessments of future production, pricing estimates, capital and operating costs, market-based weighted average cost of capital, and risk adjustment factors applied to reserves. These assumptions are applied to develop future cash flow projections that are then discounted to estimated fair value, using a market-based weighted-average cost of capital. Although we base the fair value estimate of each asset group on assumptions we believe to be reasonable, those assumptions are inherently unpredictable and uncertain, and actual results could differ from the estimate. Negative revisions of estimated reserve quantities, increases in future cost estimates, divestiture of a significant component of the asset group, or sustained decreases in crude oil prices could lead to a reduction in expected future cash flows and possibly an additional impairment of long-lived assets in future periods.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging ActivitiesWe utilize oil derivative contracts to mitigate our exposure to commodity price risk associated with our anticipated future oil production. These derivative contracts consist of collars, put options, call options and swaps. We also have used interest rate derivative contracts to mitigate our exposure to interest rate fluctuations related to our long‑term debt. Our derivative financial instruments are recorded on the balance sheet as either assets or liabilities and are measured at fair value. We do not apply hedge accounting to our derivative contracts.
Estimates of Proved Oil and Natural Gas Reserves	Estimates of Proved Oil and Natural Gas Reserves Reserve quantities and the related estimates of future net cash flows affect our periodic calculations of depletion and assessment of impairment of our oil and natural gas properties. Proved oil and natural gas reserves are the estimated quantities of crude oil, natural gas and natural gas liquids that geological and engineering data demonstrate with reasonable certainty to be recoverable in future periods from known reservoirs under existing economic and operating conditions. As additional proved reserves are discovered, reserve quantities and future cash flows will be estimated by independent petroleum consultants and prepared in accordance with guidelines established by the SEC and the FASB. The accuracy of these reserve estimates is a function of: • the engineering and geological interpretation of available data; • estimates of the amount and timing of future operating cost, production taxes, development cost and workover cost; • the accuracy of various mandated economic assumptions; and • the judgments of the persons preparing the estimates.
Revenue Recognition	Revenue Recognition We recognize revenues on the volumes of hydrocarbons sold to a purchaser. The volumes sold may be more or less than the volumes to which we are entitled based on our ownership interest in the property. These differences result in a condition known in the industry as a production imbalance. A receivable or liability is recognized only to the extent that we have an imbalance on a specific property greater than the expected remaining proved reserves on such property. As of December 31, 2021 and 2020, we had no oil and gas imbalances recorded in our consolidated financial statements. 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.
Equity-based Compensation	Equity‑based Compensation For equity‑based compensation awards, compensation expense is recognized in the Company’s financial statements over the awards’ vesting periods based on their grant date fair value. The Company utilizes (i) the closing stock price on the date of grant to determine the fair value of service vesting restricted stock units and (ii) a Monte Carlo simulation to determine the fair value of restricted stock units with a combination of market and service vesting criteria. Forfeitures are recognized in the period in which they occur.
Restructuring Charges	Restructuring Charges The Company accounts for restructuring charges and related termination benefits in accordance with ASC 712-Compensation-Nonretirement Postemployment Benefits. Under this standard, the costs associated with termination benefits are recorded during the period in which the liability is incurred. During the years ended December 31, 2021, 2020 and 2019, we recognized $2.6 million, $16.5 million and $11.5 million, respectively, in restructuring charges for employee severance and related benefit costs incurred as part of a corporate reorganization in Other expenses, net in the consolidated statement of operations.
Income Taxes	Income Taxes The Company accounts for income taxes as required by ASC 740—Income Taxes. Under this method, deferred income taxes are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. On a quarterly basis, management evaluates the need for and adequacy of valuation allowances based on the expected realizability of the deferred tax assets and adjusts the amount of such allowances, if necessary.
Foreign Currency Translation	Foreign Currency Translation The U.S. dollar is the functional currency for all of the Company’s material foreign operations. Foreign currency transaction gains and losses and adjustments resulting from translating monetary assets and liabilities denominated in foreign currencies are included in other expenses. Cash balances held in foreign currencies are not significant, and as such, the effect of exchange rate changes is not material to any reporting period.
Concentration of Credit Risk	Concentration of Credit Risk Our revenue can be materially affected by current economic conditions and the price of oil and natural gas. However, based on the current demand for crude oil and natural gas and the fact that alternative purchasers are readily available, we believe that the loss of our 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 international 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 Recently Adopted 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. Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848),” which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by the cessation of the LIBOR. The guidance was effective beginning March 12, 2020 and can be applied prospectively through December 31, 2022. As we implement the cessation of LIBOR into our current contracts and hedging relationships, the Company is evaluating whether to apply any of these expedients and, if elected, will adopt these standards when LIBOR is discontinued.

Accounting Policies (Tables)

Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of cash and cash equivalents	December 31, 2021 2020 2019 (In thousands) Cash and cash equivalents $ 131,620 $ 149,027 $ 224,502 Restricted cash - current 42,971 195 4,302 Restricted cash - long-term 305 542 542 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 174,896 $ 149,764 $ 229,346
Schedule of estimated useful lives of other property	Depreciation and amortization of other property is computed using the straight-line method over the assets’ estimated useful lives (not to exceed the lease term for leasehold improvements), ranging from one Years Leasehold improvements 1 to 8 Office furniture, fixtures and computer equipment 3 to 7
Schedule of oil and gas revenue	Oil and gas revenue is composed of the following: Years Ended December 31, 2021 2020 2019 (In thousands) Revenues from contract with customer - Equatorial Guinea $ 257,628 $ 149,033 $ 297,831 Revenues from contract with customer - Ghana 654,644 375,603 740,464 Revenues from contract with customers - U.S. Gulf of Mexico 427,261 285,017 459,960 Provisional oil sales contracts (7,520) (5,620) 1,161 Oil and gas revenue $ 1,332,013 $ 804,033 $ 1,499,416

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The estimated fair value measurements of oil and gas assets acquired and asset retirement obligations liabilities assumed are based on inputs that are not observable in the market and therefore represent Level 3 inputs. The fair value of oil and gas properties and asset retirement obligations were measured using the discounted cash flow technique of valuation. Significant inputs to the valuation of oil and gas properties include estimates of: (i) reserves, (ii) future operating and development costs, (iii) future commodity prices, (iv) future plugging and abandonment costs, (v) estimated future cash flows, and (vi) a market-based weighted average cost of capital rate. Purchase Price Allocation (in thousands) Fair value of assets acquired: Proved oil and gas properties $ 718,159 Accounts receivable and other 95,847 Total assets acquired $ 814,006 Fair value of liabilities assumed: Asset retirement obligations $ 28,342 Accounts payable and accrued liabilities 113,704 Deferred tax liabilities 206,593 Total liabilities assumed $ 348,639 Purchase price: Cash consideration paid $ 455,886 Transaction related costs 9,481 Total purchase price $ 465,367

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment is stated at cost and consisted of the following: December 31, 2021 2020 (In thousands) Oil and gas properties: Proved properties $ 6,725,453 $ 5,369,737 Unproved properties 451,454 495,390 Total oil and gas properties 7,176,907 5,865,127 Accumulated depletion (2,999,584) (2,554,851) Oil and gas properties, net 4,177,323 3,310,276 Other property 58,598 59,949 Accumulated depreciation (51,934) (49,312) Other property, net 6,664 10,637 Property and equipment, net $ 4,183,987 $ 3,320,913

Suspended Well Costs (Tables)

Suspended Well Costs (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2021, 2020 and 2019. Years Ended December 31, 2021 2020 2019 (In thousands) Beginning balance $ 186,289 $ 445,790 $ 367,665 Additions to capitalized exploratory well costs pending the determination of proved reserves 31,891 4,001 78,125 Reclassification due to determination of proved reserves(1) — (263,502) — Capitalized exploratory well costs charged to expense — — — Ending balance $ 218,180 $ 186,289 $ 445,790 ______________________________________ (1) Represents the reclassification of exploratory well costs associated with the Greater Tortue Ahmeyim Unit as a result of the execution of the Tortue Phase 1 SPA in February 2020.
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 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: Years Ended December 31, 2021 2020 2019 (In thousands, except well counts) Exploratory well costs capitalized for a period of one year or less $ 20,903 $ — $ 40,313 Exploratory well costs capitalized for a period of one to three years 30,389 66,573 279,861 Exploratory well costs capitalized for a period of four to six years 166,888 119,716 125,616 Ending balance $ 218,180 $ 186,289 $ 445,790 Number of projects that have exploratory well costs that have been capitalized for a period greater than one year 3 3 3

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of components of lease cost	The components of lease cost for the years ended December 31, 2021 and 2020 is as follows: December 31, 2021 2020 (In thousands) Operating lease cost $ 3,971 $ 4,076 Variable lease cost 1,780 1,793 Short-term lease cost(1) 10,790 13,705 Total lease cost $ 16,541 $ 19,574 __________________________________ (1) Includes $9.4 million and $12.6 million during the years ended December 31, 2021 and 2020, respectively, of costs associated with short-term drilling contracts. The table below presents supplemental cash flow information related to leases during the years ended December 31, 2021 and 2020: December 31, 2021 2020 (In thousands) Operating cash flows for operating leases $ 6,460 $ 5,225 Investing cash flows for operating leases(1) 9,350 12,586 __________________________________ (1) Represents costs associated with short-term drilling contracts.
Schedule of other information leases	Other information related to operating leases at December 31, 2021 and 2020, is as follows: December 31 2021 2020 (In thousands, except lease term and discount rate) Balance sheet classifications Other assets (right-of-use assets) $ 17,578 $ 19,799 Accrued liabilities (current maturities of leases) 1,905 1,405 Other long-term liabilities (non-current maturities of leases) 20,351 22,771 Weighted average remaining lease term 7.5 years 8.4 years Weighted average discount rate 9.8 % 9.8 %
Schedule of future minimum rental commitments	Future minimum rental commitments under our leases at December 31, 2021, are as follows: Operating Leases(1) (In thousands) 2022 $ 3,974 2023 4,077 2024 4,148 2025 4,219 2026 4,290 Thereafter 10,874 Total undiscounted lease payments $ 31,582 Less: Imputed interest (9,326) Total lease liabilities $ 22,256 __________________________________ (1) Does not include purchase commitments for jointly owned fields and facilities where we are not the operator and excludes commitments for exploration activities, including well commitments, in our petroleum contracts.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of debt	December 31, 2021 2020 (In thousands) Outstanding debt principal balances: Facility $ 1,000,000 $ 1,200,000 Corporate Revolver — 100,000 7.125% Senior Notes 650,000 650,000 7.750% Senior Notes 400,000 — 7.500% Senior Notes 450,000 — GoM Term Loan 175,000 200,000 Total 2,675,000 2,150,000 Unamortized deferred financing costs and discounts(1) (54,505) (38,569) Total debt, net 2,620,495 2,111,431 Less: Current maturities of long-term debt (30,000) (7,500) Long-term debt, net $ 2,590,495 $ 2,103,931 ________________________________________ (1) Includes $31.0 million and $25.6 million of unamortized deferred financing costs related to the Facility; $20.2 million and $8.4 million of unamortized deferred financing costs and discounts related to the Senior Notes; and $3.3 million and $4.6 million of unamortized deferred financing costs related to the GoM Term Loan as of December 31, 2021 and December 31, 2020, respectively.
Schedule of redemption price	On or after April 4, 2022, the Company may redeem all or a part of the 7.125% 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 April 4, 2022 103.563 % On or after April 4, 2023 101.781 % On or after April 4, 2024 100.000 % Year Percentage On or after November 1, 2023 103.875 % On or after November 1, 2024 101.938 % On or after November 1, 2025 100.000 % Year Percentage On or after March 1, 2024 103.750 % On or after March 1, 2025 101.875 % On or after March 1, 2026 100.000 %
Schedule of estimated repayments of debt	At December 31, 2021, the estimated repayments of debt during the five years and thereafter are as follows: Payments Due by Year Total 2022 2023 2024 2025 2026 Thereafter (In thousands) Principal debt repayments(1) $ 2,675,000 $ 30,000 $ 30,000 $ 337,785 $ 327,977 $ 939,350 $ 1,009,888 _______________________________________ (1) Includes the scheduled maturities for outstanding principal debt balances. The scheduled maturities of debt related to the Facility as of December 31, 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.
Schedule of interest and other financing costs, net	Interest and other financing costs, net incurred during the period comprised of the following: Years Ended December 31, 2021 2020 2019 (In thousands) Interest expense $ 146,706 $ 119,857 $ 145,507 Amortization—deferred financing costs 10,580 9,347 9,257 Loss on extinguishment of debt 19,625 2,902 24,794 Capitalized interest (46,098) (25,013) (28,077) Deferred interest (3,401) 2,402 1,919 Interest income (10,257) (4,773) (3,692) Other, net 11,216 5,072 5,366 Interest and other financing costs, net $ 128,371 $ 109,794 $ 155,074

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2021. Volumes and weighted average prices are net of any offsetting derivative contracts entered into. Weighted Average Price per Bbl Term Type of Contract Index MBbl Net Deferred Premium Payable/(Receivable) Swap Sold Put Floor Ceiling 2022: January — December Three-way collars Dated Brent 4,500 $ 0.64 $ — $ 43.33 $ 56.67 $ 76.91 January — December Three-way collars NYMEX WTI 1,000 1.45 — 50.00 65.00 85.00 January — December Two-way collars Dated Brent 7,000 1.12 — — 63.57 84.29 January — December Sold calls(1) Dated Brent 1,581 — — — — 60.00 ______________________________________ (1) Represents call option contracts sold to counterparties to enhance other derivative positions.
Schedule of derivative instruments by balance sheet location	The following tables disclose the Company’s derivative instruments as of December 31, 2021 and 2020 and gain/(loss) from derivatives during the years ended December 31, 2021, 2020 and 2019. Estimated Fair Value Asset (Liability) December 31, Type of Contract Balance Sheet Location 2021 2020 (In thousands) Derivatives not designated as hedging instruments: Derivative assets: Commodity Derivatives assets—current $ 5,689 $ 15,414 Provisional oil sales Receivables: Oil sales (853) (677) Commodity Derivatives assets—long-term 1,026 964 Derivative liabilities: Commodity Derivatives liabilities—current (65,879) (28,009) Commodity Derivatives liabilities—long-term (6,298) (8,069) Total derivatives not designated as hedging instruments $ (66,315) $ (20,377)
Schedule of derivative instruments by location of gain/(loss)	Amount of Gain/(Loss) Years Ended December 31, Type of Contract Location of Gain/(Loss) 2021 2020 2019 (In thousands) Derivatives not designated as hedging instruments: Commodity(1) Oil and gas revenue $ (7,520) $ (5,620) $ 1,161 Commodity Derivatives, net (270,185) (17,180) (71,885) Total derivatives not designated as hedging instruments $ (277,705) $ (22,800) $ (70,724) ______________________________________ (1) Amounts represent the change in fair value of our provisional oil sales contracts.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2021 and 2020, for each fair value hierarchy level: Fair Value Measurements Using: Quoted Prices in Active Markets for Identical Assets Significant Other Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total (In thousands) December 31, 2021 Assets: Commodity derivatives $ — $ 6,715 $ — $ 6,715 Provisional oil sales — (853) — (853) Liabilities: Commodity derivatives — (72,177) — (72,177) Total $ — $ (66,315) $ — $ (66,315) 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 December 31, 2021 and 2020: December 31, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value (In thousands) 7.125% Senior Notes $ 644,572 $ 632,587 $ 643,524 $ 613,412 7.750% Senior Notes 395,131 386,428 — — 7.500% Senior Notes 444,892 424,688 — — GoM Term Loan 175,000 175,000 200,000 200,000 Corporate Revolver — — 100,000 100,000 Facility 1,000,000 1,000,000 1,200,000 1,200,000 Total $ 2,659,595 $ 2,618,703 $ 2,143,524 $ 2,113,412

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	12 Months Ended
	Dec. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]
Schedule of changes in asset retirement obligations	The following table summarizes the changes in the Company’s asset retirement obligations: December 31, 2021 2020 (In thousands) Asset retirement obligations: Beginning asset retirement obligations $ 251,421 $ 235,053 Liabilities incurred during period 38,967 3,436 Liabilities settled during period (8,705) (2,782) Revisions in estimated retirement obligations 22,744 (3,736) Accretion expense 21,032 19,450 Ending asset retirement obligations $ 325,459 $ 251,421

Equity-based Compensation (Tabl

Equity-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Outstanding Restricted Stock Units	The following table reflects the outstanding restricted stock units as of December 31, 2021: Service Vesting Weighted- Average Grant-Date Fair Value Market / Service Vesting Restricted Stock Units Weighted-Average Grant-Date Fair Value (In thousands) (In thousands) Outstanding at December 31, 2018: 4,115 $ 6.42 6,716 $ 9.02 Granted 3,228 5.01 3,195 6.02 Forfeited (591) 5.90 (813) 7.93 Vested (2,021) 5.95 (1,300) 6.32 Outstanding at December 31, 2019: 4,731 5.71 7,798 8.42 Granted 3,481 5.48 3,394 8.37 Forfeited (1,187) 6.12 (726) 8.03 Vested (2,185) 5.91 (2,607) 9.47 Outstanding at December 31, 2020: 4,840 5.34 7,859 8.11 Granted 2,905 2.57 6,744 3.91 Forfeited (649) 4.05 (1,998) 5.50 Vested (2,400) 5.19 (1,372) 9.95 Outstanding at December 31, 2021: 4,696 3.88 11,233 5.28
Schedule of Share-based Payment Arrangement, Activity	The following table summarizes certain information related to our share-based payments: Years Ended December 31, 2021 2020 2019 (In thousands) Share-based compensation expense $ 31,651 $ 32,706 $ 32,370 Total tax benefit 5,786 4,694 4,898 Net tax shortfall (windfall) 6,307 1,175 1,224 Fair value of awards vested 9,435 26,039 20,253

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of components of income (loss) before income taxes	The components of loss before income taxes were as follows: Years Ended December 31, 2021 2020 2019 (In thousands) United States $ (75,948) $ (338,746) $ (149,919) Foreign 32,568 (78,049) 175,036 Income (loss) before income taxes $ (43,380) $ (416,795) $ 25,117
Schedule of components of the provision for income taxes attributable to the entity's income (loss) before income taxes	The components of the provision for income taxes attributable to our income (loss) before income taxes consist of the following: Years Ended December 31, 2021 2020 2019 (In thousands) Current: United States $ 282 $ (12,208) $ 185 Foreign 103,348 49,586 171,079 Total current 103,630 37,378 171,264 Deferred: United States 1,202 34,831 (18,776) Foreign (70,376) (77,418) (71,594) Total deferred (69,174) (42,587) (90,370) Income tax expense (benefit) $ 34,456 $ (5,209) $ 80,894
Schedule of reconciliation of income tax expense and the reported effective tax rate	Our reconciliation of income tax expense (benefit) computed by applying our statutory rate and the reported effective tax rate on income or (loss) from continuing operations is as follows: Years Ended December 31, 2021 2020 2019 (In thousands) Tax at statutory rate $ (9,110) $ (87,527) $ 5,275 Foreign income (loss) taxed at different rates 17,344 (1,771) 32,690 Net non-taxable expense / insurance recoveries — — (13,352) Non-deductible insurance premiums — — 2,625 Non-deductible compensation 2,775 890 3,545 Non-deductible and other items 1,719 387 3,998 Tax shortfall (windfall) on equity-based compensation, net 6,307 1,175 1,224 Change in valuation allowance 15,421 86,539 44,889 U.S. tax loss carryback rate differential — (4,902) — Total tax expense $ 34,456 $ (5,209) $ 80,894 Effective tax rate(1) 79 % 1 % 322 % ______________________________________
Schedule of tax effects of significant temporary differences to deferred tax assets and liabilities	The tax effects of significant temporary differences giving rise to deferred tax assets and liabilities are as follows: December 31, 2021 2020 (In thousands) Deferred tax assets: Foreign capitalized operating expenses $ 172,836 $ 152,106 Foreign net operating losses 35,518 32,762 United States net operating losses 109,094 113,427 United States deferred interest expense 6,725 — Equity compensation 12,424 14,089 Unrealized derivative losses 21,710 3,482 Asset retirement obligation and other 55,859 41,759 Total deferred tax assets 414,166 357,625 Valuation allowance (318,343) (288,288) Total deferred tax assets, net 95,823 69,337 Deferred tax liabilities: Depletion, depreciation and amortization related to property and equipment (806,861) (642,956) Total deferred tax liabilities (806,861) (642,956) Net deferred tax liability $ (711,038) $ (573,619)

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of reconciliation between net income (loss) and the amounts used to compute basic and diluted net income (loss) per share and the weighted average shares outstanding used to compute basic and diluted net income (loss) per share	Basic net income (loss) per share is computed as (i) net income (loss), (ii) less income allocable to participating securities (iii) divided by weighted average basic shares outstanding. The Company’s diluted net income (loss) per share is computed as (i) basic net income (loss), (ii) plus diluted adjustments to income allocable to participating securities (iii) divided by weighted average diluted shares outstanding. Years Ended December 31, 2021 2020 2019 (In thousands, except per share data) Numerator: Net loss allocable to common stockholders $ (77,836) $ (411,586) $ (55,777) Denominator: Weighted average number of shares outstanding: Basic 416,943 405,212 401,368 Restricted stock units(1)(2) — — — Diluted 416,943 405,212 401,368 Net loss per share: Basic $ (0.19) $ (1.02) $ (0.14) Diluted $ (0.19) $ (1.02) $ (0.14) ______________________________________ (1) Our restricted stock units are not considered to be participating securities and, therefore, are excluded from the basic net income (loss) per share calculation.

Additional Financial Informat_2

Additional Financial Information (Tables)	12 Months Ended
	Dec. 31, 2021
Additional Financial Information
Schedule of accrued liabilities	Accrued liabilities consisted of the following: December 31, 2021 2020 (In thousands) Accrued liabilities: Exploration, development and production $ 61,881 $ 89,162 Revenue payable 31,986 15,079 Current asset retirement obligations 3,222 7,255 General and administrative expenses 27,980 4,988 Interest 31,117 23,725 Income taxes 69,392 37,344 Taxes other than income 2,854 2,815 Derivatives 19,302 17,475 Other 2,936 5,417 $ 250,670 $ 203,260
Schedule of other expenses, net incurred	Other expenses, net incurred during the period is comprised of the following: Years Ended December 31, 2021 2020 2019 (In thousands) Loss on disposal of inventory $ 1,239 $ 8,607 $ 4,590 Gain on insurance settlements — — (3,509) Loss on asset retirement obligations liability settlements 6,351 1,966 193 Restructuring charges 2,584 16,474 11,528 Other, net (63) 10,755 11,846 Other expenses, net $ 10,111 $ 37,802 $ 24,648

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Business Segment Information	Ghana(2) Equatorial Guinea Mauritania / Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (in thousands) Years ended December 31, 2021 Revenues and other income: Oil and gas revenue $ 644,232 $ 260,520 $ — $ 427,261 $ — $ — $ 1,332,013 Gain on sale of assets — — — — 1,564 — 1,564 Other income, net 6 — — 1,279 395,073 (396,096) 262 Total revenues and other income 644,238 260,520 — 428,540 396,637 (396,096) 1,333,839 Costs and expenses: Oil and gas production 151,079 93,032 — 101,895 — — 346,006 Facilities insurance modifications, net (1,586) — — — — — (1,586) Exploration expenses 1,527 5,700 10,639 41,230 6,286 — 65,382 General and administrative 12,179 4,343 8,601 17,665 172,869 (124,128) 91,529 Depletion, depreciation and amortization 240,901 56,468 61 168,142 1,649 — 467,221 Impairment of long-lived assets — — — — — — — Interest and other financing costs, net(1) 51,279 (1,661) (44,831) 15,875 109,493 (1,784) 128,371 Derivatives, net — — — — 270,185 — 270,185 Other expenses, net 206,466 41,891 (2,189) 30,118 4,010 (270,185) 10,111 Total costs and expenses 661,845 199,773 (27,719) 374,925 564,492 (396,097) 1,377,219 Income (loss) before income taxes (17,607) 60,747 27,719 53,615 (167,855) 1 (43,380) Income tax expense (benefit) (4,290) 37,487 — (4,958) 6,217 — 34,456 Net income (loss) $ (13,317) $ 23,260 $ 27,719 $ 58,573 $ (174,072) $ 1 $ (77,836) Consolidated capital expenditures $ 575,472 $ 77,364 $ 170,690 $ 96,897 $ 3,791 $ — $ 924,214 As of December 31, 2021 Property and equipment, net $ 1,885,116 $ 460,975 $ 918,683 $ 901,392 $ 17,821 $ — $ 4,183,987 Total assets $ 3,125,835 $ 911,159 $ 1,346,622 $ 3,258,264 $ 17,108,138 $ (20,809,367) $ 4,940,651 ______________________________________ (1) Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside. (2) Includes activity related to our acquisition of additional interests in Ghana commencing October 13, 2021, the acquisition date. Additionally, the acquisition purchase price of $465.4 million is included in Consolidated capital expenditures. Ghana Equatorial Guinea Mauritania / Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (in thousands) Year ended December 31, 2020 Revenues and other income: Oil and gas revenue $ 366,515 $ 152,501 $ — $ 285,017 $ — $ — $ 804,033 Gain on sale of assets — — — 84 92,079 — 92,163 Other income, net 2 — — 280 120,135 (120,415) 2 Total revenues and other income 366,517 152,501 — 285,381 212,214 (120,415) 896,198 Costs and expenses: Oil and gas production 169,357 80,813 — 88,307 — — 338,477 Facilities insurance modifications, net 13,161 — — — — — 13,161 Exploration expenses 182 8,290 8,189 26,792 41,163 — 84,616 General and administrative 13,506 4,865 7,464 12,607 129,801 (96,101) 72,142 Depletion, depreciation and amortization 235,772 64,786 61 181,898 3,345 — 485,862 Impairment of long-lived assets — — — 153,959 — 153,959 Interest and other financing costs, net(1) 54,530 (1,248) (27,339) 17,373 73,612 (7,134) 109,794 Derivatives, net — — — — 17,180 — 17,180 Other expenses, net (27,925) 2,281 4,829 54,485 21,312 (17,180) 37,802 Total costs and expenses 458,583 159,787 (6,796) 535,421 286,413 (120,415) 1,312,993 Income (loss) before income taxes (92,066) (7,286) 6,796 (250,040) (74,199) — (416,795) Income tax expense (benefit) (30,486) 2,428 — 26,061 (3,212) — (5,209) Net income (loss) $ (61,580) $ (9,714) $ 6,796 $ (276,101) $ (70,987) $ — $ (411,586) Consolidated capital expenditures $ 44,146 $ 38,126 $ 126,803 $ 123,197 $ (58,293) $ — $ 273,979 As of December 31, 2020 Property and equipment, net $ 1,293,372 $ 426,365 $ 580,920 $ 998,204 $ 22,052 $ — $ 3,320,913 Total assets $ 1,397,802 $ 689,222 $ 823,411 $ 3,171,851 $ 12,654,827 $ (14,869,520) $ 3,867,593 ______________________________________ (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) Year ended December 31, 2019 Revenues and other income: Oil and gas revenue $ 738,909 $ 300,547 $ — $ 459,960 $ — $ — $ 1,499,416 Gain on sale of assets — — — — 10,528 — 10,528 Other income, net 5 — — 1,194 155,866 (157,100) (35) Total revenues and other income 738,914 300,547 — 461,154 166,394 (157,100) 1,509,909 Costs and expenses: Oil and gas production 188,207 90,607 — 123,799 — — 402,613 Facilities insurance modifications, net (24,254) — — — — — (24,254) Exploration expenses 204 13,350 11,181 115,765 40,455 — 180,955 General and administrative 18,618 6,643 8,222 25,456 159,539 (108,468) 110,010 Depletion, depreciation and amortization 268,866 75,565 62 214,592 4,776 — 563,861 Interest and other financing costs, net(1) 72,226 (634) (26,537) 21,266 95,887 (7,134) 155,074 Derivatives, net — — — 30,387 41,498 — 71,885 Other expenses, net 40,382 (563) 12,056 2,691 11,580 (41,498) 24,648 Total costs and expenses 564,249 184,968 4,984 533,956 353,735 (157,100) 1,484,792 Income (loss) before income taxes 174,665 115,579 (4,984) (72,802) (187,341) — 25,117 Income tax expense (benefit) 50,293 49,192 — (8,419) (10,172) — 80,894 Net income (loss) $ 124,372 $ 66,387 $ (4,984) $ (64,383) $ (177,169) $ — $ (55,777) Consolidated capital expenditures $ 98,285 $ 63,798 $ 12,556 $ 232,891 $ 33,206 $ — $ 440,736 As of December 31, 2019 Property and equipment, net $ 1,487,114 $ 464,420 $ 438,800 $ 1,216,453 $ 35,545 $ — $ 3,642,332 Total assets $ 1,654,266 $ 650,607 $ 581,317 $ 3,251,420 $ 12,144,312 $ (13,964,690) $ 4,317,232 ______________________________________ (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. Years Ended December 31, 2021 2020 2019 (In thousands) Consolidated capital expenditures: Consolidated Statements of Cash Flows - Investing activities: Oil and gas assets $ 472,631 $ 379,593 $ 352,013 Acquisition of oil and gas properties 465,367 — — Adjustments: Changes in capital accruals (18,534) (42,315) 33,717 Exploration expense, excluding unsuccessful well costs and leasehold impairments(1) 46,563 61,459 93,142 Capitalized interest (46,098) (25,013) (28,077) Proceeds on sale of assets (4,422) (99,337) (16,713) Other 8,707 (408) 6,654 Total consolidated capital expenditures $ 924,214 $ 273,979 $ 440,736 ______________________________________ (1) Unsuccessful well costs are included in oil and gas assets when incurred.

Organization (Details)

Organization (Details)	12 Months Ended
	Dec. 31, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable geographic areas	4

Accounting Policies - Cash, Cas

Accounting Policies - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 131,620	$ 149,027	$ 224,502
Restricted cash - current	42,971	195	4,302
Restricted cash - long-term	305	542	542
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$ 174,896	$ 149,764	$ 229,346	$ 185,616

Accounting Policies - Narrative

Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2022USD ($)
Cash, Cash Equivalents and Restricted Cash
Restricted cash - current	$ 42,971,000	$ 195,000	$ 4,302,000
Receivables
Allowance for doubtful accounts	5,200,000	5,700,000
Inventories
Materials and supplies inventory	149,500,000	127,500,000
Hydrocarbons inventory	15,700,000	1,500,000
Write down of materials and supplies	1,239,000	8,607,000	4,590,000
Revenue Recognition
Oil and gas imbalances	0	0
Restructuring Charges
Restructuring charges	$ 2,584,000	$ 16,474,000	$ 11,528,000
Minimum
Depletion, Depreciation and Amortization
Estimated useful lives	1 year
Maximum
Depletion, Depreciation and Amortization
Estimated useful lives	8 years
Capitalized Interest | Minimum
Capitalized Interest
Expected construction period for capitalization of interest costs on major projects	1 year
Facility
Cash, Cash Equivalents and Restricted Cash
Net leverage ratio	2.50
Facility Interest Or Senior Notes Plus The Corporate Revolver
Cash, Cash Equivalents and Restricted Cash
Period for contractual future interest payments	6 months
Restricted cash - current	$ 42,900,000
Facility Interest Or Senior Notes Plus The Corporate Revolver | Forecast
Cash, Cash Equivalents and Restricted Cash
Restricted cash - current				$ 16,200,000
7.125% Senior Notes
Cash, Cash Equivalents and Restricted Cash
Interest rate	7.125%
7.750% Senior Notes
Cash, Cash Equivalents and Restricted Cash
Interest rate	7.75%
7.500% Senior Notes
Cash, Cash Equivalents and Restricted Cash
Interest rate	7.50%

Accounting Policies - Useful Li

Accounting Policies - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2021
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	1 year
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	8 years
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	1 year
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	8 years
Office furniture, fixtures and computer equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Office furniture, fixtures and computer equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years

Accounting Policies - Summary o

Accounting Policies - Summary of Oil and Gas Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Provisional oil sales contracts	$ (277,705)	$ (22,800)	$ (70,724)
Oil and gas revenue	1,332,013	804,033	1,499,416
Equatorial Guinea
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	257,628	149,033	297,831
Ghana
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	654,644	375,603	740,464
Gulf of Mexico
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	427,261	285,017	459,960
Oil and Gas Revenue
Disaggregation of Revenue [Line Items]
Provisional oil sales contracts	(7,520)	(5,620)	1,161
Oil and gas revenue	$ 1,332,013	$ 804,033	$ 1,499,416

Acquisitions and Divestitures -

Acquisitions and Divestitures - 2021 Transactions (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended		3 Months Ended
	Nov. 30, 2021	Oct. 31, 2021	Dec. 31, 2021	Sep. 30, 2021
Public Issuance
Business Acquisition [Line Items]
Proceeds from issuance		$ 136,600
Number of shares issued (in shares)		43.1
Bridge Notes | Senior Notes
Business Acquisition [Line Items]
Debt, face amount		$ 400,000
Facility | Revolving Credit Facility
Business Acquisition [Line Items]
Borrowings under long-term debt		75,000
7.750% Senior Notes
Business Acquisition [Line Items]
Interest rate			7.75%
7.750% Senior Notes | Senior Notes
Business Acquisition [Line Items]
Debt, face amount		$ 400,000
Interest rate		7.75%
Anadarko WCTP
Business Acquisition [Line Items]
Cash consideration paid		$ 455,886
Transaction related costs		$ 9,481
Revenue of acquiree since acquisition date			$ 104,400
Operating expenses of acquiree since acquisition date			$ 10,300
Jubilee Unit Area
Business Acquisition [Line Items]
Participating interest percentage				24.10%
Jubilee Unit Area | Deepwater Tano Block Joint Operating Agreement
Business Acquisition [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%
Jubilee Unit Area | Anadarko WCTP
Business Acquisition [Line Items]
Participating interest percentage		18.00%
Participating interest percentage after acquired interest		42.10%
TEN Fields
Business Acquisition [Line Items]
Participating interest percentage				17.00%
TEN Fields | Deepwater Tano Block Joint Operating Agreement
Business Acquisition [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%
TEN Fields | Anadarko WCTP
Business Acquisition [Line Items]
Participating interest percentage		11.10%
Participating interest percentage after acquired interest		28.10%
Jubilee Unit Area And Ten Fields | Deepwater Tano Block Joint Operating Agreement
Business Acquisition [Line Items]
Initial purchase price	$ 150,000
Jubilee Unit Area And Ten Fields | Anadarko WCTP
Business Acquisition [Line Items]
Cash consideration paid		$ 455,900
Initial purchase price		550,600
Business combination, purchase price adjustments		94,700
Transaction related costs		$ 9,500

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - Anadarko WCTP $ in Thousands	1 Months Ended
	Oct. 31, 2021USD ($)
Fair value of assets acquired:
Proved oil and gas properties	$ 718,159
Accounts receivable and other	95,847
Total assets acquired	814,006
Fair value of liabilities assumed:
Asset retirement obligations	28,342
Accounts payable and accrued liabilities	113,704
Deferred tax liabilities	206,593
Total liabilities assumed	348,639
Cash consideration paid	455,886
Transaction related costs	9,481
Total purchase price	$ 465,367

Acquisitions and Divestitures_3

Acquisitions and Divestitures - 2020 Transactions (Details) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Feb. 28, 2022	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2020USD ($)well
Acquisitions and Divestitures
Proceeds on sale of assets				$ 6,354	$ 99,118	$ 15,000
Gain on sale of assets				$ 1,564	92,163	$ 10,528
Farm Down Agreement | Blocks Offshore Sao Tome And Principe, Suriname, Namibia, And South Africa | Shell
Acquisitions and Divestitures
Amount of cash consideration received for frontier exploration portfolio							$ 96,000
Farm Down Agreement | Blocks Offshore Sao Tome and Principe Suriname and Namibia | Shell
Acquisitions and Divestitures
Future contingent consideration							$ 50,000
Proceeds on sale of assets			$ 95,000
Gain on sale of assets					$ 92,100
Number of wells | well							4
Farm Down Agreement | Blocks Offshore Sao Tome and Principe Suriname and Namibia | Maximum | Shell
Acquisitions and Divestitures
Future contingent consideration							$ 100,000
Farm Down Agreement | Namibia | Shell
Acquisitions and Divestitures
Proceeds on sale of assets		$ 1,000
Farm Down Agreement | Namibia | Subsequent Event | Shell
Acquisitions and Divestitures
Appraisal plan submission period from discovery	150 days

Acquisitions and Divestitures_4

Acquisitions and Divestitures - 2019 Transactions (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2019
Business Acquisition [Line Items]
Gain on sale of assets		$ 1,564	$ 92,163	$ 10,528
Block 11
Business Acquisition [Line Items]
Participating interest percentage					35.00%
Block 6
Business Acquisition [Line Items]
Participating interest percentage					25.00%
Farm-in Agreement | Block EG-24
Business Acquisition [Line Items]
Participation interest acquired	80.00%
Farm-in Agreement | Block EG-24 | Guinea Equatorial De Petroleos
Business Acquisition [Line Items]
Carried participating interest	20.00%
Percentage converted from carried to participating	20.00%
Farm-out Agreement | Block 11 | Shell Sao Tome and Principe B.V.
Business Acquisition [Line Items]
Participating interest percentage					30.00%
Farm-out Agreement | Block 6 | Shell Sao Tome and Principe B.V.
Business Acquisition [Line Items]
Participating interest percentage					20.00%
Farm-out Agreement | Blocks 6 and 11
Business Acquisition [Line Items]
Gain on sale of assets				$ 10,500

Joint Interest Billings and L_2

Joint Interest Billings and Long-term Receivables (Details) $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Feb. 28, 2019USD ($)agreement	Sep. 30, 2016	Dec. 31, 2021USD ($)	Aug. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Joint interest billings
Joint interest billings, net			$ 36,908		$ 26,002
Long-term receivables			191,150		117,497
BP Operator
Joint interest billings
Long-term investments and receivables, net				$ 200,200
Settlement of payment obligation of capital expenditures			132,400
Settlement of accounts payable			42,700
Greater Tortue FPSO | BP Operator
Joint interest billings
Contract liability, noncurrent			200,200	$ 200,200
Carry Advance Agreements | National Oil Companies Of Mauritania And Senegal
Joint interest billings
Long-term receivables			145,200		96,300
Number of agreements | agreement	2
Share of development costs to be financed, up to	$ 240,000
Interest income, long-term notes receivable			7,100		3,800	$ 500
TEN Discoveries | GNPC
Joint interest billings
Joint interest billings, net			7,900		5,800
Long-term receivables			$ 20,900		$ 21,200
GNPC | TEN Discoveries
Joint interest billings
GNPC's paying interest		5.00%

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Oil and gas properties:
Proved properties	$ 5,369,737,000		$ 6,725,453,000	$ 5,369,737,000
Unproved properties	495,390,000		451,454,000	495,390,000
Total oil and gas properties	5,865,127,000		7,176,907,000	5,865,127,000
Accumulated depletion	(2,554,851,000)		(2,999,584,000)	(2,554,851,000)
Oil and gas properties, net	3,310,276,000		4,177,323,000	3,310,276,000
Other property	59,949,000		58,598,000	59,949,000
Accumulated depreciation	(49,312,000)		(51,934,000)	(49,312,000)
Other property, net	10,637,000		6,664,000	10,637,000
Property and equipment, net	3,320,913,000		4,183,987,000	3,320,913,000	$ 3,642,332,000
Depletion expense			442,300,000	460,900,000	542,900,000
Depreciation expense			3,900,000	5,500,000	6,900,000
Impairment of long-lived assets	$ 3,200,000	$ 150,800,000	$ 0	$ 153,959,000	$ 0

Suspended Well Costs - Schedule

Suspended Well Costs - Schedule of Suspended Well Costs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)project	Dec. 31, 2020USD ($)project	Dec. 31, 2019USD ($)project
Reconciliation of capitalized exploratory well costs on completed wells
Beginning balance	$ 186,289	$ 445,790	$ 367,665
Additions to capitalized exploratory well costs pending the determination of proved reserves	31,891	4,001	78,125
Reclassification due to determination of proved reserves	0	(263,502)	0
Capitalized exploratory well costs charged to expense	0	0	0
Ending balance	218,180	186,289	445,790
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	20,903	0	40,313
Exploratory well costs capitalized for a period of one to three years	30,389	66,573	279,861
Exploratory well costs capitalized for a period of four to six years	166,888	119,716	125,616
Ending balance	$ 218,180	$ 186,289	$ 445,790
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year | project	3	3	3

Suspended Well Costs - Narrativ

Suspended Well Costs - Narrative (Details) $ in Millions	1 Months Ended
	Sep. 30, 2019km	Dec. 31, 2021USD ($)
BirAllah and Orca Discoveries
Capitalized Contract Cost [Line Items]
Capitalized costs | $		$ 62
Yakaar and Teranga Discoveries
Capitalized Contract Cost [Line Items]
Distance from Yakaar-2 well to Yakaar-1 exploration well | km	9

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lease, Cost [Abstract]
Operating lease cost	$ 3,971	$ 4,076
Variable lease cost	1,780	1,793
Short-term lease cost	10,790	13,705
Total lease cost	$ 16,541	$ 19,574
Balance sheet classifications
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets	Other Assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued liabilities	Accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Other assets (right-of-use assets)	$ 17,578	$ 19,799
Accrued liabilities (current maturities of leases)	1,905	1,405
Other long-term liabilities (non-current maturities of leases)	$ 20,351	$ 22,771
Weighted average remaining lease term	7 years 6 months	8 years 4 months 24 days
Weighted average discount rate	9.80%	9.80%
Operating cash flows for operating leases	$ 6,460	$ 5,225
Investing cash flows for operating leases	9,350	12,586
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	3,974
2023	4,077
2024	4,148
2025	4,219
2026	4,290
Thereafter	10,874
Total undiscounted lease payments	31,582
Less: Imputed interest	(9,326)
Total lease liabilities	22,256
Short-Term Drilling Contracts
Lease, Cost [Abstract]
Short-term lease cost	$ 9,400	$ 12,600
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, initial term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, initial term	10 years

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Oct. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Apr. 30, 2019
Debt Instrument [Line Items]
Outstanding debt principal	$ 2,675,000			$ 2,150,000
Unamortized deferred financing costs and discounts	(54,505)			(38,569)
Total debt, net	2,620,495			2,111,431
Less: Current maturities of long-term debt	(30,000)			(7,500)
Long-term debt, net	2,590,495			2,103,931
Senior Notes
Debt Instrument [Line Items]
Unamortized deferred financing costs and discounts	(20,200)			(8,400)
Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding debt principal	1,000,000			1,200,000
Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Unamortized deferred financing costs and discounts	(31,000)			(25,600)
Corporate Revolver | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding debt principal	$ 0			100,000
7.125% Senior Notes
Debt Instrument [Line Items]
Interest rate	7.125%
7.125% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate					7.125%
Outstanding debt principal	$ 650,000			650,000
7.750% Senior Notes
Debt Instrument [Line Items]
Interest rate	7.75%
7.750% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate		7.75%
Outstanding debt principal	$ 400,000			0
7.500% Senior Notes
Debt Instrument [Line Items]
Interest rate	7.50%
7.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate			7.50%
Outstanding debt principal	$ 450,000			0
GoM Term Loan | Secured Debt
Debt Instrument [Line Items]
Outstanding debt principal	175,000			200,000
Unamortized deferred financing costs and discounts	$ (3,300)			$ (4,600)

Debt - Facility (Details)

Debt - Facility (Details) $ in Thousands	Mar. 31, 2024	May 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2022USD ($)	Oct. 31, 2021	Sep. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Apr. 30, 2019
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 19,625	$ 2,902	$ 24,794
Restricted cash			$ 42,971	$ 195	$ 4,302
Facility
Debt Instrument [Line Items]
Net leverage ratio			2.50
Field life cover ratio								1.30
Loan life cover ratio								1.10
Interest cover ratio								2.25
Debt cover ratio								4
Facility Interest Or Senior Notes Plus The Corporate Revolver
Debt Instrument [Line Items]
Interval period for payment of interest			6 months
Restricted cash			$ 42,900
Facility Interest Or Senior Notes Plus The Corporate Revolver | Forecast
Debt Instrument [Line Items]
Restricted cash						$ 16,200
7.125% Senior Notes
Debt Instrument [Line Items]
Interest rate			7.125%
7.500% Senior Notes
Debt Instrument [Line Items]
Interest rate			7.50%
7.750% Senior Notes
Debt Instrument [Line Items]
Interest rate			7.75%
Revolving Credit Facility | Facility
Debt Instrument [Line Items]
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	$ 1,500,000
Available borrowing base		$ 1,240,000
Loss on extinguishment of debt			$ 15,200
Amount outstanding			1,000,000
Undrawn availability			$ 235,200
Interval period for payment of interest			6 months
Commitment fee percentage of the then-applicable margin when commitment is available for utilization			30.00%
Commitment fee percentage of the then-applicable margin when commitment is not available for utilization			20.00%
Availability period of revolving-credit			1 month
Amount outstanding under letters of credit			$ 0
Revolving Credit Facility | Facility | Forecast
Debt Instrument [Line Items]
Loan life coverage ratio	1.30
Revolving Credit Facility | Facility | LIBOR
Debt Instrument [Line Items]
Applicable margin		3.75%
Revolving Credit Facility | Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Applicable margin			3.75%
Revolving Credit Facility | Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Applicable margin			5.00%
Senior Notes | 7.125% Senior Notes
Debt Instrument [Line Items]
Interest rate										7.125%
Senior Notes | 7.500% Senior Notes
Debt Instrument [Line Items]
Interest rate									7.50%
Senior Notes | 7.750% Senior Notes
Debt Instrument [Line Items]
Interest rate							7.75%

Debt - Corporate Revolver (Deta

Debt - Corporate Revolver (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2018USD ($)	Dec. 31, 2021USD ($)	Sep. 30, 2021	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Net deferred financing costs		$ 1,090		$ 3,706
Revolving Credit Facility | Corporate Revolver
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 400,000
Reduction in margin	1.00%
Applicable margin	5.00%
Commitment fee percentage	30.00%	30.00%
Net deferred financing costs		$ 1,100
Amount outstanding		0
Undrawn availability		$ 400,000
Interval period for payment of interest		6 months
Interest cover ratio			2.25
Debt cover ratio			4
Revolving Credit Facility | Corporate Revolver | LIBOR
Debt Instrument [Line Items]
Applicable margin		5.00%

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 31, 2014
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 19,625	$ 2,902	$ 24,794
7.875% Senior Notes Due 2021 | Senior Notes
Debt Instrument [Line Items]
Interest rate							7.875%
Debt redeemed			$ 543,800
Loss on extinguishment of debt			$ 22,900
7.125% Senior Notes
Debt Instrument [Line Items]
Interest rate				7.125%
7.125% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate			7.125%
Debt, face amount			$ 650,000
Proceeds from debt, net of issuance costs			$ 640,000
Redemption price percentage following change of control			101.00%
Redemption price percentage following sell of certain assets			100.00%
7.125% Senior Notes | Debt Instrument, Redemption, Period Four | Senior Notes
Debt Instrument [Line Items]
Maximum percentage of principal amount available to be redeemed with proceeds from equity offerings			40.00%
Redemption price percentage			107.125%
7.125% Senior Notes | Debt Instrument, Redemption, Period Five | Senior Notes
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount			100.00%
7.750% Senior Notes
Debt Instrument [Line Items]
Interest rate				7.75%
7.750% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate	7.75%
Debt, face amount	$ 400,000
Proceeds from debt, net of issuance costs	$ 395,000
Redemption price percentage following change of control	101.00%
Redemption price percentage following sell of certain assets	100.00%
7.750% Senior Notes | Debt Instrument, Redemption, Period Four | Senior Notes
Debt Instrument [Line Items]
Maximum percentage of principal amount available to be redeemed with proceeds from equity offerings	40.00%
Redemption price percentage	107.75%
7.750% Senior Notes | Debt Instrument, Redemption, Period Five | Senior Notes
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount	100.00%
7.500% Senior Notes
Debt Instrument [Line Items]
Interest rate				7.50%
7.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate		7.50%
Debt, face amount		$ 450,000
Proceeds from debt, net of issuance costs		$ 444,400
Redemption price percentage following change of control		101.00%
Redemption price percentage following sell of certain assets		100.00%
7.500% Senior Notes | Debt Instrument, Redemption, Period Four | Senior Notes
Debt Instrument [Line Items]
Maximum percentage of principal amount available to be redeemed with proceeds from equity offerings		40.00%
Redemption price percentage		107.50%
7.500% Senior Notes | Debt Instrument, Redemption, Period Five | Senior Notes
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount		100.00%
Bridge Notes | Senior Notes
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ (4,400)
Debt, face amount	$ 400,000

Debt - Redemption Prices (Detai

Debt - Redemption Prices (Details) - Senior Notes	1 Months Ended
	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019
7.125% Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount			103.563%
7.125% Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount			101.781%
7.125% Senior Notes | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount			100.00%
7.500% Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount		103.75%
7.500% Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount		101.875%
7.500% Senior Notes | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount		100.00%
7.750% Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount	103.875%
7.750% Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount	101.938%
7.750% Senior Notes | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price, as a percent of the of principal amount	100.00%

Debt - Production Prepayment Ag

Debt - Production Prepayment Agreement, net (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Advances under production prepayment agreement		$ 0	$ 50,000	$ 0
Trafigura
Debt Instrument [Line Items]
Advances under production prepayment agreement	$ 50,000

Debt - GoM Term Loan (Details)

Debt - GoM Term Loan (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Outstanding debt principal		$ 2,675,000	$ 2,150,000
GoM Term Loan
Debt Instrument [Line Items]
Repayments of debt		25,000
Repayment of debt, regular scheduled maturity		7,500
Repayment of debt, voluntary early repayment		17,500
GoM Term Loan | Secured Debt
Debt Instrument [Line Items]
Debt term	5 years
Debt, face amount	$ 200,000
Proceeds from debt, net of issuance costs	197,700
Additional incremental commitments	$ 100,000
Debt instrument, interest rate, effective percentage	6.00%
Outstanding debt principal		$ 175,000	$ 200,000
GoM Term Loan | Secured Debt | Trafigura
Debt Instrument [Line Items]
Debt, face amount	$ 50,000

Debt - Maturities (Details)

Debt - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Scheduled maturities of debt during the five year period and thereafter
Total	$ 2,675,000	$ 2,150,000
2022	30,000
2023	30,000
2024	337,785
2025	327,977
2026	939,350
Thereafter	$ 1,009,888

Debt - Debt Interest (Details)

Debt - Debt Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Interest expense	$ 146,706	$ 119,857	$ 145,507
Amortization—deferred financing costs	10,580	9,347	9,257
Loss on extinguishment of debt	19,625	2,902	24,794
Capitalized interest	(46,098)	(25,013)	(28,077)
Deferred interest	(3,401)	2,402	1,919
Interest income	(10,257)	(4,773)	(3,692)
Other, net	11,216	5,072	5,366
Interest and other financing costs, net	$ 128,371	$ 109,794	$ 155,074

Debt - Interest and other finan

Debt - Interest and other financing costs, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Capitalized Contract Cost [Line Items]
Capitalized interest	$ 46,098	$ 25,013	$ 28,077
Greater Tortue Ahmeyim
Capitalized Contract Cost [Line Items]
Capitalized interest	$ 46,100	$ 25,000	$ 28,100

Derivative Financial Instrume_3

Derivative Financial Instruments - Oil Derivative Contracts (Details) - January 2022 - December 2022	12 Months Ended
	Dec. 31, 2021$ / bblMBbls
Dated Brent | Three-way collars
Derivative Financial Instruments
Volume (mbbls) | MBbls	4,500
Weighted Average Price per Bbl [Abstract]
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 | Two-way collars
Derivative Financial Instruments
Volume (mbbls) | MBbls	7,000
Weighted Average Price per Bbl [Abstract]
Net deferred premium payable/(receivable) (usd per bbl)	1.12
Swap (usd per bbl)	0
Sold Put (usd per bbl)	0
Floor (usd per bbl)	63.57
Ceiling (usd per bbl)	84.29
Dated Brent | Sold calls
Derivative Financial Instruments
Volume (mbbls) | MBbls	1,581
Weighted Average Price per Bbl [Abstract]
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 | Three-way collars
Derivative Financial Instruments
Volume (mbbls) | MBbls	1,000
Weighted Average Price per Bbl [Abstract]
Net deferred premium payable/(receivable) (usd per bbl)	1.45
Swap (usd per bbl)	0
Sold Put (usd per bbl)	50
Floor (usd per bbl)	65
Ceiling (usd per bbl)	85

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - Dated Brent - Three-way collars	1 Months Ended	12 Months Ended
	Jan. 31, 2022$ / bblMBbls	Dec. 31, 2021$ / bblMBbls
January 2022 - December 2022
Derivative Financial Instruments
Volume (mbbls) | MBbls		4,500
Sold Put (usd per bbl)		43.33
Floor (usd per bbl)		56.67
Ceiling (usd per bbl)		76.91
January 2023 - December 2023 | Subsequent Event
Derivative Financial Instruments
Volume (mbbls) | MBbls	2,000
Sold Put (usd per bbl)	47.50
Floor (usd per bbl)	65
Ceiling (usd per bbl)	95.25

Derivative Financial Instrume_5

Derivative Financial Instruments - Derivative Instruments and Gain/(Loss) from Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative instruments, Balance Sheet Location
Derivatives assets—current	$ 5,689	$ 15,414
Derivatives assets—long-term	1,026	964
Derivatives liabilities—current	(65,879)	(28,009)
Derivatives liabilities—long-term	(6,298)	(8,069)
Not designated as hedging instruments
Derivative instruments, Balance Sheet Location
Total derivatives not designated as hedging instruments	(66,315)	(20,377)
Commodity derivatives | Not designated as hedging instruments
Derivative instruments, Balance Sheet Location
Derivatives assets—current	5,689	15,414
Derivatives assets—long-term	1,026	964
Derivatives liabilities—current	(65,879)	(28,009)
Derivatives liabilities—long-term	(6,298)	(8,069)
Provisional oil sales | Receivables: Oil sales | Not designated as hedging instruments
Derivative instruments, Balance Sheet Location
Derivatives assets—current	$ (853)	$ (677)

Derivative Financial Instrume_6

Derivative Financial Instruments - Location of Gain (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative instruments, Location of Gain/(Loss)
Derivative, not designated as hedge, gain (loss)	$ (277,705)	$ (22,800)	$ (70,724)
Commodity derivatives | Oil and gas revenue
Derivative instruments, Location of Gain/(Loss)
Derivative, not designated as hedge, gain (loss)	(7,520)	(5,620)	1,161
Commodity derivatives | Derivatives, net
Derivative instruments, Location of Gain/(Loss)
Derivative, not designated as hedge, gain (loss)	$ (270,185)	$ (17,180)	$ (71,885)

Fair Value Measurements (Detail

Fair Value Measurements (Details)	3 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019
Liabilities:
Impairment of long-lived assets	$ 3,200,000	$ 150,800,000	$ 0	$ 153,959,000	$ 0
Carrying Value
Liabilities:
Long-term debt	2,143,524,000		2,659,595,000	2,143,524,000
Fair Value
Liabilities:
Long-term debt	2,113,412,000		$ 2,618,703,000	2,113,412,000
7.125% Senior Notes
Liabilities:
Interest rate			7.125%
7.125% Senior Notes | Senior Notes
Liabilities:
Interest rate								7.125%
7.125% Senior Notes | Senior Notes | Carrying Value
Liabilities:
Long-term debt	643,524,000		$ 644,572,000	643,524,000
7.125% Senior Notes | Senior Notes | Fair Value
Liabilities:
Long-term debt	613,412,000		$ 632,587,000	613,412,000
7.750% Senior Notes
Liabilities:
Interest rate			7.75%
7.750% Senior Notes | Senior Notes
Liabilities:
Interest rate						7.75%
7.750% Senior Notes | Senior Notes | Carrying Value
Liabilities:
Long-term debt	0		$ 395,131,000	0
7.750% Senior Notes | Senior Notes | Fair Value
Liabilities:
Long-term debt	0		$ 386,428,000	0
7.500% Senior Notes
Liabilities:
Interest rate			7.50%
7.500% Senior Notes | Senior Notes
Liabilities:
Interest rate							7.50%
7.500% Senior Notes | Senior Notes | Carrying Value
Liabilities:
Long-term debt	0		$ 444,892,000	0
7.500% Senior Notes | Senior Notes | Fair Value
Liabilities:
Long-term debt	0		424,688,000	0
GoM Term Loan | Secured Debt | Carrying Value
Liabilities:
Long-term debt	200,000,000		175,000,000	200,000,000
GoM Term Loan | Secured Debt | Fair Value
Liabilities:
Long-term debt	200,000,000		175,000,000	200,000,000
Corporate Revolver | Revolving Credit Facility | Carrying Value
Liabilities:
Long-term debt	100,000,000		0	100,000,000
Corporate Revolver | Revolving Credit Facility | Fair Value
Liabilities:
Long-term debt	100,000,000		0	100,000,000
Facility | Revolving Credit Facility | Carrying Value
Liabilities:
Long-term debt	1,200,000,000		1,000,000,000	1,200,000,000
Facility | Revolving Credit Facility | Fair Value
Liabilities:
Long-term debt	1,200,000,000		1,000,000,000	1,200,000,000
Recurring basis
Liabilities:
Total derivatives not designated as hedging instruments	(20,377,000)		(66,315,000)	(20,377,000)
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Liabilities:
Total derivatives not designated as hedging instruments	0		0	0
Recurring basis | Significant Other Observable Inputs (Level 2)
Liabilities:
Total derivatives not designated as hedging instruments	(20,377,000)		(66,315,000)	(20,377,000)
Recurring basis | Significant Unobservable Inputs (Level 3)
Liabilities:
Total derivatives not designated as hedging instruments	0		0	0
Recurring basis | Commodity derivatives
Assets:
Derivative asset, fair value	16,378,000		6,715,000	16,378,000
Liabilities:
Derivative liability, fair value	(36,078,000)		(72,177,000)	(36,078,000)
Recurring basis | Commodity derivatives | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Derivative asset, fair value	0		0	0
Liabilities:
Derivative liability, fair value	0		0	0
Recurring basis | Commodity derivatives | Significant Other Observable Inputs (Level 2)
Assets:
Derivative asset, fair value	16,378,000		6,715,000	16,378,000
Liabilities:
Derivative liability, fair value	(36,078,000)		(72,177,000)	(36,078,000)
Recurring basis | Commodity derivatives | Significant Unobservable Inputs (Level 3)
Assets:
Derivative asset, fair value	0		0	0
Liabilities:
Derivative liability, fair value	0		0	0
Recurring basis | Provisional oil sales
Assets:
Derivative asset, fair value	(677,000)		(853,000)	(677,000)
Recurring basis | Provisional oil sales | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Derivative asset, fair value	0		0	0
Recurring basis | Provisional oil sales | Significant Other Observable Inputs (Level 2)
Assets:
Derivative asset, fair value	(677,000)		(853,000)	(677,000)
Recurring basis | Provisional oil sales | Significant Unobservable Inputs (Level 3)
Assets:
Derivative asset, fair value	$ 0		$ 0	$ 0
Nonrecurring
Liabilities:
Proved oil and gas reserves, fair value		$ 243,700,000
Nonrecurring | Valuation Technique, Discounted Cash Flow | Measurement input, discount rate
Liabilities:
Long-lived assets, measurement input		0.10

Asset Retirement Obligations -

Asset Retirement Obligations - Summary of Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Asset retirement obligations:
Beginning asset retirement obligations	$ 251,421	$ 235,053
Liabilities incurred during period	38,967	3,436
Liabilities settled during period	(8,705)	(2,782)
Revisions in estimated retirement obligations	22,744	(3,736)
Accretion expense	21,032	19,450
Ending asset retirement obligations	$ 325,459	$ 251,421

Asset Retirement Obligations _2

Asset Retirement Obligations - Narrative (Details) $ in Thousands	Oct. 31, 2021USD ($)
Anadarko WCTP
Business Acquisition [Line Items]
Asset retirement obligations	$ 28,342

Equity-based Compensation - Nar

Equity-based Compensation - Narrative (Details) - LTIP - USD ($) $ / shares in Units, shares in Millions	1 Months Ended		12 Months Ended
	Jan. 31, 2022	Apr. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity-based Compensation
Additional shares authorized (in shares)		11
Number of shares authorized (in shares)			61.5
Number of shares remaining available for grant (in shares)			11
Minimum
Equity-based Compensation
Vesting period			3 years
Restricted stock units
Equity-based Compensation
Compensation expense not yet recognized			$ 18,900,000
Weighted average period over which compensation expense is to be recognized			1 year 7 months 6 days
Restricted stock units | Subsequent Event
Equity-based Compensation
Compensation expense not yet recognized	$ 34,200,000
Weighted average period over which compensation expense is to be recognized	3 years
Market/Service Vesting Restricted Stock Units
Equity-based Compensation
Granted (in dollars per share)			$ 3.91	$ 8.37	$ 6.02
Market/Service Vesting Restricted Stock Units | Subsequent Event
Equity-based Compensation
Granted (in shares)	3.3
Market/Service Vesting Restricted Stock Units | Minimum
Equity-based Compensation
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
Equity-based Compensation
Vesting percentage of the awards granted			200.00%
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
Service Vesting Restricted Stock Units
Equity-based Compensation
Granted (in dollars per share)			$ 2.57	$ 5.48	$ 5.01
Service Vesting Restricted Stock Units | Subsequent Event
Equity-based Compensation
Granted (in shares)	2.5

Equity-based Compensation - Sch

Equity-based Compensation - Schedule of Awards (Details) - LTIP - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Service Vesting Restricted Stock Units
Outstanding unvested awards activity
Outstanding at the beginning of the period (in shares)	4,840	4,731	4,115
Granted (in shares)	2,905	3,481	3,228
Forfeited (in shares)	(649)	(1,187)	(591)
Vested (in shares)	(2,400)	(2,185)	(2,021)
Outstanding at the end of the period (in shares)	4,696	4,840	4,731
Weighted-Average Grant-Date Fair Value
Outstanding at beginning of the period (in dollars per share)	$ 5.34	$ 5.71	$ 6.42
Granted (in dollars per share)	2.57	5.48	5.01
Forfeited (in dollars per share)	4.05	6.12	5.90
Vested (in dollars per share)	5.19	5.91	5.95
Outstanding at the end of the period (in dollars per share)	$ 3.88	$ 5.34	$ 5.71
Market/Service Vesting Restricted Stock Units
Outstanding unvested awards activity
Outstanding at the beginning of the period (in shares)	7,859	7,798	6,716
Granted (in shares)	6,744	3,394	3,195
Forfeited (in shares)	(1,998)	(726)	(813)
Vested (in shares)	(1,372)	(2,607)	(1,300)
Outstanding at the end of the period (in shares)	11,233	7,859	7,798
Weighted-Average Grant-Date Fair Value
Outstanding at beginning of the period (in dollars per share)	$ 8.11	$ 8.42	$ 9.02
Granted (in dollars per share)	3.91	8.37	6.02
Forfeited (in dollars per share)	5.50	8.03	7.93
Vested (in dollars per share)	9.95	9.47	6.32
Outstanding at the end of the period (in dollars per share)	$ 5.28	$ 8.11	$ 8.42

Equity-based Compensation - S_2

Equity-based Compensation - Schedule of Share-based Payment Arrangement, Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity-based Compensation
Net tax shortfall (windfall)	$ 6,307	$ 1,175	$ 1,224
LTIP
Equity-based Compensation
Share-based compensation expense	31,651	32,706	32,370
Total tax benefit	5,786	4,694	4,898
Net tax shortfall (windfall)	6,307	1,175	1,224
Fair value of awards vested	$ 9,435	$ 26,039	$ 20,253

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Tax benefit from cares act	$ 4,900
Income tax refund claim from Cares act	$ 12,200
Effective tax rate		79.00%	1.00%	322.00%
Change in valuation allowance		$ 15,421	$ 86,539	$ 44,889
Foreign net operating loss carryforwards		95,200
Foreign net operating loss carryforwards expiring in 2022		500
Foreign net operating loss carryforwards expiring in 2023		600
Foreign net operating loss carryforwards expiring in 2024		700
Foreign net operating loss carryforwards expiring in 2027		43,300
Foreign net operating loss carryforwards not expiring		$ 50,100
United States
Income Taxes
Effective tax rate		2.00%	7.00%	12.00%
Change in valuation allowance		$ 6,600	$ 96,600	$ 6,800
Foreign net operating loss carryforwards not expiring		$ 519,500
Ghana
Income Taxes
Effective tax rate		35.00%	35.00%	29.00%
Equatorial Guinea
Income Taxes
Effective tax rate		35.00%	34.00%	37.00%
Foreign
Income Taxes
Effective tax rate		0.00%
Federal statutory income tax rate percent		0.00%

Income Taxes - Components of In

Income Taxes - Components of Income (Loss) and Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Income (loss) before income taxes	$ (43,380)	$ (416,795)	$ 25,117
Components of the provision for income taxes attributable to income (loss) before income taxes
Current	103,630	37,378	171,264
Deferred	(69,174)	(42,587)	(90,370)
Income tax expense (benefit)	34,456	(5,209)	80,894
Reconciliation of income tax expense and the reported effective tax rate
Tax at statutory rate	(9,110)	(87,527)	5,275
Foreign income (loss) taxed at different rates	17,344	(1,771)	32,690
Net non-taxable expense / insurance recoveries	0	0	(13,352)
Non-deductible insurance premiums	0	0	2,625
Non-deductible compensation	2,775	890	3,545
Non-deductible and other items	1,719	387	3,998
Tax shortfall (windfall) on equity-based compensation, net	6,307	1,175	1,224
Change in valuation allowance	15,421	86,539	44,889
U.S. tax loss carryback rate differential	0	(4,902)	0
Income tax expense (benefit)	$ 34,456	$ (5,209)	$ 80,894
Effective tax rate	79.00%	1.00%	322.00%
Impact of (gains) losses incurred in jurisdictions in which the company is not subject to taxes on effective tax rate	$ 61,600	$ (2,900)	$ 132,100
United States
Income Taxes
Income (loss) before income taxes	(75,948)	(338,746)	(149,919)
Components of the provision for income taxes attributable to income (loss) before income taxes
Current	282	(12,208)	185
Deferred	1,202	34,831	(18,776)
Foreign
Income Taxes
Income (loss) before income taxes	32,568	(78,049)	175,036
Components of the provision for income taxes attributable to income (loss) before income taxes
Current	103,348	49,586	171,079
Deferred	$ (70,376)	$ (77,418)	$ (71,594)

Income Taxes - Deferred Taxes (

Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Foreign capitalized operating expenses	$ 172,836	$ 152,106
Foreign net operating losses	35,518	32,762
United States net operating losses	109,094	113,427
United States deferred interest expense	6,725	0
Equity compensation	12,424	14,089
Unrealized derivative losses	21,710	3,482
Asset retirement obligation and other	55,859	41,759
Total deferred tax assets	414,166	357,625
Valuation allowance	(318,343)	(288,288)
Total deferred tax assets, net	95,823	69,337
Deferred tax liabilities:
Depletion, depreciation and amortization related to property and equipment	(806,861)	(642,956)
Total deferred tax liabilities	(806,861)	(642,956)
Net deferred tax liability	$ (711,038)	$ (573,619)

Net Income (Loss) Per Share (De

Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net loss allocable to common stockholders	$ (77,836)	$ (411,586)	$ (55,777)
Weighted average number of shares outstanding:
Basic (in shares)	416,943	405,212	401,368
Restricted stock awards and units (in shares)	0	0	0
Diluted (in shares)	416,943	405,212	401,368
Net loss per share:
Basic (in dollars per share)	$ (0.19)	$ (1.02)	$ (0.14)
Diluted (in dollars per share)	$ (0.19)	$ (1.02)	$ (0.14)
Outstanding restricted stock awards and units excluded from the computations of diluted net income per share (in shares)	19,000	6,100	15,300

Commitments and Contingencies (

Commitments and Contingencies (Details) $ / shares in Units, $ in Millions	Oct. 14, 2011	Oct. 31, 2021	Mar. 26, 2020$ / shares	Feb. 28, 2019	Dec. 31, 2021USD ($)well	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019$ / shares	Sep. 30, 2021	Aug. 31, 2021USD ($)
Commitments and contingencies
Dividends declared per common stock (in dollars per share) | $ / shares			$ 0.0452			$ 0.0452	$ 0.1808
Greater Tortue FPSO | BP Operator
Commitments and contingencies
Contract liability, noncurrent					$ 200.2				$ 200.2
Mauritania
Commitments and contingencies
Number of exploration wells | well					1
U.S. Gulf of Mexico | Bureau Of Ocean Energy Management | Surety Bond
Commitments and contingencies
Required performance bonds					$ 195.5	$ 195.5
U.S. Gulf of Mexico | Third Party | Surety Bond
Commitments and contingencies
Required performance bonds					$ 3.5	$ 7.1
Jubilee Unit Area
Commitments and contingencies
Participating interest percentage								24.10%
Jubilee Unit Area | Anadarko WCTP
Commitments and contingencies
Participating interest percentage after acquired interest		42.10%
Jubilee UUOA
Commitments and contingencies
Unit interest after redetermination process	24.10%
Deepwater Tano Block Joint Operating Agreement | Jubilee Unit Area
Commitments and contingencies
Reduction of ultimate interest upon full exercise of pre-emption rights		3.80%
Ultimate interest upon full exercise of pre-emption rights		38.30%
GTA UUOA
Commitments and contingencies
Payment interest on development activities				26.70%

Additional Financial Informat_3

Additional Financial Information - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued liabilities:
Exploration, development and production	$ 61,881	$ 89,162
Revenue payable	31,986	15,079
Current asset retirement obligations	3,222	7,255
General and administrative expenses	27,980	4,988
Interest	31,117	23,725
Income taxes	69,392	37,344
Taxes other than income	2,854	2,815
Derivatives	19,302	17,475
Other	2,936	5,417
Accrued liabilities	$ 250,670	$ 203,260

Additional Financial Informat_4

Additional Financial Information - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Gain on sale of assets	$ 1,564	$ 92,163	$ 10,528
Farm-out Agreement | Blocks 6 and 11
Schedule of Equity Method Investments [Line Items]
Gain on sale of assets			$ 10,500

Additional Financial Informat_5

Additional Financial Information - Other Expenses, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Additional Financial Information
Loss on disposal of inventory	$ 1,239	$ 8,607	$ 4,590
Gain on insurance settlements	0	0	(3,509)
Loss on asset retirement obligations liability settlements	6,351	1,966	193
Restructuring charges	2,584	16,474	11,528
Other, net	(63)	10,755	11,846
Other expenses, net	$ 10,111	$ 37,802	$ 24,648

Business Segment Information -

Business Segment Information - Financial Information (Details)	Oct. 13, 2021USD ($)	Oct. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment					4
Oil and gas revenue					$ 1,332,013,000	$ 804,033,000	$ 1,499,416,000
Gain on sale of assets					1,564,000	92,163,000	10,528,000
Other income, net					262,000	2,000	(35,000)
Total revenues and other income					1,333,839,000	896,198,000	1,509,909,000
Oil and gas production					346,006,000	338,477,000	402,613,000
Facilities insurance modifications, net					(1,586,000)	13,161,000	(24,254,000)
Exploration expenses					65,382,000	84,616,000	180,955,000
General and administrative					91,529,000	72,142,000	110,010,000
Depletion, depreciation and amortization					467,221,000	485,862,000	563,861,000
Impairment of long-lived assets			$ 3,200,000	$ 150,800,000	0	153,959,000	0
Interest and other financing costs, net					128,371,000	109,794,000	155,074,000
Derivatives, net					270,185,000	17,180,000	71,885,000
Other expenses, net					10,111,000	37,802,000	24,648,000
Total costs and expenses					1,377,219,000	1,312,993,000	1,484,792,000
Income (loss) before income taxes					(43,380,000)	(416,795,000)	25,117,000
Income tax expense (benefit)					34,456,000	(5,209,000)	80,894,000
Net loss					(77,836,000)	(411,586,000)	(55,777,000)
Consolidated capital expenditures					924,214,000	273,979,000	440,736,000
Property and equipment, net			3,320,913,000		4,183,987,000	3,320,913,000	3,642,332,000
Total assets			3,867,593,000		4,940,651,000	3,867,593,000	4,317,232,000
Anadarko WCTP
Segment Reporting Information [Line Items]
Total purchase price		$ 465,367,000
Corporate & Other
Segment Reporting Information [Line Items]
Oil and gas revenue					0	0	0
Gain on sale of assets					1,564,000	92,079,000	10,528,000
Other income, net					395,073,000	120,135,000	155,866,000
Total revenues and other income					396,637,000	212,214,000	166,394,000
Oil and gas production					0	0	0
Facilities insurance modifications, net					0	0	0
Exploration expenses					6,286,000	41,163,000	40,455,000
General and administrative					172,869,000	129,801,000	159,539,000
Depletion, depreciation and amortization					1,649,000	3,345,000	4,776,000
Impairment of long-lived assets					0	0
Interest and other financing costs, net					109,493,000	73,612,000	95,887,000
Derivatives, net					270,185,000	17,180,000	41,498,000
Other expenses, net					4,010,000	21,312,000	11,580,000
Total costs and expenses					564,492,000	286,413,000	353,735,000
Income (loss) before income taxes					(167,855,000)	(74,199,000)	(187,341,000)
Income tax expense (benefit)					6,217,000	(3,212,000)	(10,172,000)
Net loss					(174,072,000)	(70,987,000)	(177,169,000)
Consolidated capital expenditures					3,791,000	(58,293,000)	33,206,000
Property and equipment, net			22,052,000		17,821,000	22,052,000	35,545,000
Total assets			12,654,827,000		17,108,138,000	12,654,827,000	12,144,312,000
Eliminations
Segment Reporting Information [Line Items]
Oil and gas revenue					0	0	0
Gain on sale of assets					0	0	0
Other income, net					(396,096,000)	(120,415,000)	(157,100,000)
Total revenues and other income					(396,096,000)	(120,415,000)	(157,100,000)
Oil and gas production					0	0	0
Facilities insurance modifications, net					0	0	0
Exploration expenses					0	0	0
General and administrative					(124,128,000)	(96,101,000)	(108,468,000)
Depletion, depreciation and amortization					0	0	0
Impairment of long-lived assets					0
Interest and other financing costs, net					(1,784,000)	(7,134,000)	(7,134,000)
Derivatives, net					0	0	0
Other expenses, net					(270,185,000)	(17,180,000)	(41,498,000)
Total costs and expenses					(396,097,000)	(120,415,000)	(157,100,000)
Income (loss) before income taxes					1,000	0	0
Income tax expense (benefit)					0	0	0
Net loss					1,000	0	0
Consolidated capital expenditures					0	0	0
Property and equipment, net			0		0	0	0
Total assets			(14,869,520,000)		(20,809,367,000)	(14,869,520,000)	(13,964,690,000)
Ghana | Anadarko WCTP
Segment Reporting Information [Line Items]
Total purchase price	$ 465,400,000
Ghana | Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue					644,232,000	366,515,000	738,909,000
Gain on sale of assets					0	0	0
Other income, net					6,000	2,000	5,000
Total revenues and other income					644,238,000	366,517,000	738,914,000
Oil and gas production					151,079,000	169,357,000	188,207,000
Facilities insurance modifications, net					(1,586,000)	13,161,000	(24,254,000)
Exploration expenses					1,527,000	182,000	204,000
General and administrative					12,179,000	13,506,000	18,618,000
Depletion, depreciation and amortization					240,901,000	235,772,000	268,866,000
Impairment of long-lived assets					0	0
Interest and other financing costs, net					51,279,000	54,530,000	72,226,000
Derivatives, net					0	0	0
Other expenses, net					206,466,000	(27,925,000)	40,382,000
Total costs and expenses					661,845,000	458,583,000	564,249,000
Income (loss) before income taxes					(17,607,000)	(92,066,000)	174,665,000
Income tax expense (benefit)					(4,290,000)	(30,486,000)	50,293,000
Net loss					(13,317,000)	(61,580,000)	124,372,000
Consolidated capital expenditures					575,472,000	44,146,000	98,285,000
Property and equipment, net			1,293,372,000		1,885,116,000	1,293,372,000	1,487,114,000
Total assets			1,397,802,000		3,125,835,000	1,397,802,000	1,654,266,000
Equatorial Guinea | Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue					260,520,000	152,501,000	300,547,000
Gain on sale of assets					0	0	0
Other income, net					0	0	0
Total revenues and other income					260,520,000	152,501,000	300,547,000
Oil and gas production					93,032,000	80,813,000	90,607,000
Facilities insurance modifications, net					0	0	0
Exploration expenses					5,700,000	8,290,000	13,350,000
General and administrative					4,343,000	4,865,000	6,643,000
Depletion, depreciation and amortization					56,468,000	64,786,000	75,565,000
Impairment of long-lived assets					0	0
Interest and other financing costs, net					(1,661,000)	(1,248,000)	(634,000)
Derivatives, net					0	0	0
Other expenses, net					41,891,000	2,281,000	(563,000)
Total costs and expenses					199,773,000	159,787,000	184,968,000
Income (loss) before income taxes					60,747,000	(7,286,000)	115,579,000
Income tax expense (benefit)					37,487,000	2,428,000	49,192,000
Net loss					23,260,000	(9,714,000)	66,387,000
Consolidated capital expenditures					77,364,000	38,126,000	63,798,000
Property and equipment, net			426,365,000		460,975,000	426,365,000	464,420,000
Total assets			689,222,000		911,159,000	689,222,000	650,607,000
Mauritania / Senegal | Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue					0	0	0
Gain on sale of assets					0	0	0
Other income, net					0	0	0
Total revenues and other income					0	0	0
Oil and gas production					0	0	0
Facilities insurance modifications, net					0	0	0
Exploration expenses					10,639,000	8,189,000	11,181,000
General and administrative					8,601,000	7,464,000	8,222,000
Depletion, depreciation and amortization					61,000	61,000	62,000
Impairment of long-lived assets					0	0
Interest and other financing costs, net					(44,831,000)	(27,339,000)	(26,537,000)
Derivatives, net					0	0	0
Other expenses, net					(2,189,000)	4,829,000	12,056,000
Total costs and expenses					(27,719,000)	(6,796,000)	4,984,000
Income (loss) before income taxes					27,719,000	6,796,000	(4,984,000)
Income tax expense (benefit)					0	0	0
Net loss					27,719,000	6,796,000	(4,984,000)
Consolidated capital expenditures					170,690,000	126,803,000	12,556,000
Property and equipment, net			580,920,000		918,683,000	580,920,000	438,800,000
Total assets			823,411,000		1,346,622,000	823,411,000	581,317,000
U.S. Gulf of Mexico | Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue					427,261,000	285,017,000	459,960,000
Gain on sale of assets					0	84,000	0
Other income, net					1,279,000	280,000	1,194,000
Total revenues and other income					428,540,000	285,381,000	461,154,000
Oil and gas production					101,895,000	88,307,000	123,799,000
Facilities insurance modifications, net					0	0	0
Exploration expenses					41,230,000	26,792,000	115,765,000
General and administrative					17,665,000	12,607,000	25,456,000
Depletion, depreciation and amortization					168,142,000	181,898,000	214,592,000
Impairment of long-lived assets					0	153,959,000
Interest and other financing costs, net					15,875,000	17,373,000	21,266,000
Derivatives, net					0	0	30,387,000
Other expenses, net					30,118,000	54,485,000	2,691,000
Total costs and expenses					374,925,000	535,421,000	533,956,000
Income (loss) before income taxes					53,615,000	(250,040,000)	(72,802,000)
Income tax expense (benefit)					(4,958,000)	26,061,000	(8,419,000)
Net loss					58,573,000	(276,101,000)	(64,383,000)
Consolidated capital expenditures					96,897,000	123,197,000	232,891,000
Property and equipment, net			998,204,000		901,392,000	998,204,000	1,216,453,000
Total assets			$ 3,171,851,000		$ 3,258,264,000	$ 3,171,851,000	$ 3,251,420,000

Business Segment Information _2

Business Segment Information - Consolidated Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting [Abstract]
Oil and gas assets	$ 472,631	$ 379,593	$ 352,013
Acquisition of oil and gas properties	465,367	0	0
Changes in capital accruals	(18,534)	(42,315)	33,717
Exploration expense, excluding unsuccessful well costs and leasehold impairments	46,563	61,459	93,142
Capitalized interest	(46,098)	(25,013)	(28,077)
Proceeds on sale of assets	(4,422)	(99,337)	(16,713)
Other	8,707	(408)	6,654
Consolidated capital expenditures	$ 924,214	$ 273,979	$ 440,736

Condensed Parent Company Fina_2

Condensed Parent Company Financial Statements - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 131,620	$ 149,027	$ 224,502
Prepaid expenses and other	18,899	27,870
Derivatives	5,689	15,414
Total current assets	541,952	400,291
Deferred financing costs, net of accumulated amortization of $19,912 and $17,296 at December 31, 2021 and December 31, 2020, respectively	1,090	3,706
Derivatives	1,026	964
Restricted cash	305	542	542
Long-term deferred tax asset	0	0
Total assets	4,940,651	3,867,593	4,317,232
Current liabilities:
Accounts payable	184,403	221,430
Accrued liabilities	250,670	203,260
Derivatives	65,879	28,009
Total current liabilities	530,952	460,199
Long-term debt, net	2,590,495	2,103,931
Derivatives	6,298	8,069
Other long-term liabilities	250,394	37,455
Stockholders’ equity:
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at December 31, 2021 and December 31, 2020	0	0
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 496,152,331 and 449,718,317 issued at December 31, 2021 and December 31, 2020, respectively	4,962	4,497
Additional paid-in capital	2,473,674	2,307,220
Accumulated deficit	(1,712,392)	(1,634,556)
Treasury stock, at cost, 44,263,269 shares at December 31, 2021 and December 31, 2020, respectively	(237,007)	(237,007)
Total stockholders’ equity	529,237	440,154	$ 841,702	$ 941,478
Total liabilities and stockholders’ equity	4,940,651	3,867,593
Parent Company
Current assets:
Cash and cash equivalents	6,693	1,166
Derivatives receivable - related party	1,474	0
Prepaid expenses and other	957	908
Derivatives	5,689	0
Derivatives—related party	1,217	2,502
Total current assets	16,030	4,576
Investment in subsidiaries at equity	2,092,915	1,034,226
Long-term note receivable from subsidiary	0	176,540
Deferred financing costs, net of accumulated amortization of $19,912 and $17,296 at December 31, 2021 and December 31, 2020, respectively	1,090	3,706
Derivatives	1,026	0
Derivatives—related party	84	140
Restricted cash	305	305
Long-term deferred tax asset	18,687	18,687
Total assets	2,130,137	1,238,180
Current liabilities:
Accounts payable	242	153
Accounts payable to subsidiaries	80,595	38,558
Accrued liabilities	32,239	14,157
Derivatives	1,217	2,502
Derivatives - related party	5,689	0
Total current liabilities	119,982	55,370
Long-term debt, net	1,479,808	741,606
Derivatives	84	140
Derivatives - related party	1,026	0
Other long-term liabilities	0	910
Stockholders’ equity:
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at December 31, 2021 and December 31, 2020	0	0
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 496,152,331 and 449,718,317 issued at December 31, 2021 and December 31, 2020, respectively	4,962	4,497
Additional paid-in capital	2,473,674	2,307,220
Accumulated deficit	(1,712,392)	(1,634,556)
Treasury stock, at cost, 44,263,269 shares at December 31, 2021 and December 31, 2020, respectively	(237,007)	(237,007)
Total stockholders’ equity	529,237	440,154
Total liabilities and stockholders’ equity	$ 2,130,137	$ 1,238,180

Condensed Parent Company Fina_3

Condensed Parent Company Financial Statements - Balance Sheet - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Condensed Balance Sheet Statements, Captions [Line Items]
Deferred financing costs, accumulated amortization	$ 19,912	$ 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)	496,152,331	449,718,317
Treasury stock shares (in shares)	44,263,269	44,263,269
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Deferred financing costs, accumulated amortization	$ 19,912	$ 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)	496,152,331	449,718,317
Treasury stock shares (in shares)	44,263,269	44,263,269

Condensed Parent Company Fina_4

Condensed Parent Company Financial Statements - Statement of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 26, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues and other income:
Oil and gas revenue		$ 1,332,013	$ 804,033	$ 1,499,416
Total revenues and other income		1,333,839	896,198	1,509,909
Costs and expenses:
General and administrative		91,529	72,142	110,010
Interest and other financing costs, net		128,371	109,794	155,074
Derivatives, net		270,185	17,180	71,885
Other expenses, net		10,111	37,802	24,648
Total costs and expenses		1,377,219	1,312,993	1,484,792
Income (loss) before income taxes		(43,380)	(416,795)	25,117
Income tax expense (benefit)		34,456	(5,209)	80,894
Net loss		(77,836)	$ (411,586)	$ (55,777)
Dividends declared per common share (in dollars per share)	$ 0.0452		$ 0.0452	$ 0.1808
Parent Company
Revenues and other income:
Oil and gas revenue		0	$ 0	$ 0
Other income—related party		20,307	2,642	0
Total revenues and other income		20,307	2,642	0
Costs and expenses:
General and administrative		38,810	40,162	40,840
General and administrative recoveries—related party		79	4,112	(30,822)
Interest and other financing costs, net		98,649	59,200	86,104
Interest and other financing costs, net—related party		(2,446)	(5,889)	(7,144)
Derivatives, net		20,307	2,642	0
Other expenses, net		(61)	0	10
Equity in (earnings) losses of subsidiaries		(57,195)	315,423	(15,064)
Total costs and expenses		98,143	415,650	73,924
Income (loss) before income taxes		(77,836)	(413,008)	(73,924)
Income tax expense (benefit)		0	(1,422)	(18,147)
Net loss		$ (77,836)	$ (411,586)	$ (55,777)
Dividends declared per common share (in dollars per share)		$ 0	$ 0.0452	$ 0.1808

Condensed Parent Company Fina_5

Condensed Parent Company Financial Statements - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net loss	$ (77,836)	$ (411,586)	$ (55,777)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity-based compensation	31,651	32,706	32,370
Depreciation and amortization	477,801	495,209	573,118
Deferred income taxes	(69,174)	(42,587)	(90,370)
Change in fair value of derivatives	277,705	22,800	67,436
Cash settlements on derivatives	(231,767)	(10,944)	(31,458)
Loss on extinguishment of debt	19,625	2,902	24,794
Changes in assets and liabilities:
Decrease in receivables	(34,246)	92,093	(29,735)
Decrease in prepaid expenses and other	15,218	7,882	34,586
Net cash provided by operating activities	374,344	196,145	628,150
Investing activities
Net cash used in investing activities	(973,377)	(345,587)	(363,931)
Financing activities
Borrowings under long-term debt	725,000	300,000	175,000
Payments on long-term debt	(1,050,000)	(250,000)	(425,000)
Net proceeds from issuance of senior notes	839,375	0	641,875
Redemption of senior secured notes	0	0	(535,338)
Net proceeds from issuance of common stock	136,006	0	0
Tax withholdings on restricted stock units	(1,100)	(4,947)	(1,983)
Dividends	(512)	(19,271)	(72,599)
Deferred financing costs	(24,604)	(5,922)	(2,444)
Net cash provided by (used in) financing activities	624,165	69,860	(220,489)
Net increase (decrease) in cash, cash equivalents and restricted cash	25,132	(79,582)	43,730
Cash, cash equivalents and restricted cash at end of period	149,764	229,346	185,616
Cash, cash equivalents and restricted cash at beginning of period	174,896	149,764	229,346
Parent Company
Operating activities
Net loss	(77,836)	(411,586)	(55,777)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity in (earnings) losses of subsidiaries	(57,195)	315,423	(15,064)
Equity-based compensation	31,651	32,706	32,370
Depreciation and amortization	5,638	8,644	5,039
Deferred income taxes	0	(1,422)	(18,397)
Other income—related party	6,582	(2,642)	0
Change in fair value of derivatives	20,307	2,642	0
Cash settlements on derivatives	(28,363)	0	0
Loss on extinguishment of debt	4,403	0	22,913
Changes in assets and liabilities:
Decrease in receivables	134	856	427
Decrease in prepaid expenses and other	(49)	(480)	(115)
Decrease due to/from related party	218,008	162,897	43,974
Increase (decrease) in accounts payable and accrued liabilities	18,003	2,509	(8,754)
Net cash provided by operating activities	141,283	109,547	6,616
Investing activities
Investment in subsidiaries	(1,001,494)	(190,089)	287,972
Net cash used in investing activities	(1,001,494)	(190,089)	287,972
Financing activities
Borrowings under long-term debt	100,000	100,000	0
Payments on long-term debt	(200,000)	0	(325,000)
Net proceeds from issuance of senior notes	839,375	0	641,875
Redemption of senior secured notes	0	0	(535,338)
Net proceeds from issuance of common stock	136,006	0	0
Tax withholdings on restricted stock units	(1,100)	(4,947)	(1,983)
Dividends	(512)	(19,271)	(72,599)
Deferred financing costs	(8,031)	(496)	(1,897)
Net cash provided by (used in) financing activities	865,738	75,286	(294,942)
Net increase (decrease) in cash, cash equivalents and restricted cash	5,527	(5,256)	(354)
Cash, cash equivalents and restricted cash at end of period	1,471	6,727	7,081
Cash, cash equivalents and restricted cash at beginning of period	$ 6,998	$ 1,471	$ 6,727

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for credit losses
Changes in valuation and qualifying Accounts
Balance at the beginning of the period	$ 5,675	$ 2,748	$ 1,211
Charged to Costs and Expenses	1,019	1,800	1,324
Charged To Other Accounts	(1,505)	1,127	228
Deductions From Reserves	0	0	(15)
Balance at the end of the period	5,189	5,675	2,748
Allowance for deferred tax assets
Changes in valuation and qualifying Accounts
Balance at the beginning of the period	288,288	201,749	156,860
Charged to Costs and Expenses	30,055	86,539	44,889
Charged To Other Accounts	0	0	0
Deductions From Reserves	0	0	0
Balance at the end of the period	$ 318,343	$ 288,288	$ 201,749