Kosmos Energy (KOS) 10-Q9 May 222022 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2022	May 05, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-35167
Entity Registrant Name	Kosmos Energy Ltd.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0686001
Entity Address, Address Line One	8176 Park Lane
Entity Address, City or Town	Dallas,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75231
Title of 12(b) Security	Common Stock $0.01 par value
Trading Symbol	KOS
Security Exchange Name	NYSE
City Area Code	214
Local Phone Number	445 9600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		455,437,574
Entity Central Index Key	0001509991
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 337,834	$ 131,620
Restricted cash	59,140	42,971
Receivables:
Joint interest billings, net	31,023	36,908
Oil sales	172,178	134,004
Other	10,069	6,614
Inventories	153,392	165,247
Prepaid expenses and other	30,553	18,899
Derivatives	0	5,689
Total current assets	794,189	541,952
Property and equipment:
Oil and gas properties, net	4,024,214	4,177,323
Other property, net	6,602	6,664
Property and equipment, net	4,030,816	4,183,987
Other assets:
Restricted cash	305	305
Long-term receivables	168,990	191,150
Deferred financing costs, net of accumulated amortization of $11,523 and $19,912 at March 31, 2022 and December 31, 2021, respectively	6,188	1,090
Derivatives	0	1,026
Other	20,873	21,141
Total assets	5,021,361	4,940,651
Current liabilities:
Accounts payable	224,594	184,403
Accrued liabilities	330,492	250,670
Current maturities of long-term debt	130,000	30,000
Derivatives	248,021	65,879
Total current liabilities	933,107	530,952
Long-term liabilities:
Long-term debt, net	2,385,629	2,590,495
Derivatives	16,050	6,298
Asset retirement obligations	321,419	322,237
Deferred tax liabilities	580,613	711,038
Other long-term liabilities	248,222	250,394
Total long-term liabilities	3,551,933	3,880,462
Stockholders’ equity:
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued at March 31, 2022 and December 31, 2021	0	0
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 499,528,735 and 496,152,331 issued at March 31, 2022 and December 31, 2021, respectively	4,995	4,962
Additional paid-in capital	2,479,325	2,473,674
Accumulated deficit	(1,710,992)	(1,712,392)
Treasury stock, at cost, 44,263,269 shares at March 31, 2022 and December 31, 2021, respectively	(237,007)	(237,007)
Total stockholders’ equity	536,321	529,237
Total liabilities and stockholders’ equity	$ 5,021,361	$ 4,940,651

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Deferred financing costs, accumulated amortization	$ 11,523	$ 19,912
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)	499,528,735	496,152,331
Treasury stock shares (in shares)	44,263,269	44,263,269

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues and other income:
Oil and gas revenue	$ 659,015	$ 176,474
Gain on sale of assets	0	26
Other income, net	52	70
Total revenues and other income	659,067	176,570
Costs and expenses:
Oil and gas production	124,703	45,752
Facilities insurance modifications, net	7,136	671
Exploration expenses	11,876	8,181
General and administrative	25,793	22,441
Depletion, depreciation and amortization	158,969	76,541
Interest and other financing costs, net	33,139	24,528
Derivatives, net	282,172	102,461
Other expenses, net	2,426	3,468
Total costs and expenses	646,214	284,043
Income (loss) before income taxes	12,853	(107,473)
Income tax expense (benefit)	11,453	(16,705)
Net income (loss)	$ 1,400	$ (90,768)
Net income (loss) per share:
Basic (in dollars per share)	$ 0	$ (0.22)
Diluted (in dollars per share)	$ 0	$ (0.22)
Weighted average number of shares used to compute net loss per share:
Basic (in shares)	454,102	407,365
Diluted (in shares)	469,164	407,365

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock
Balance at the beginning (in shares) at Dec. 31, 2020		449,718
Balance at the beginning at Dec. 31, 2020	$ 440,154	$ 4,497	$ 2,307,220	$ (1,634,556)	$ (237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	90		90
Equity-based compensation	8,327		8,327
Restricted stock units (in shares)		2,408
Restricted stock units	0	$ 24	(24)
Tax withholdings on restricted stock units	(1,018)		(1,018)
Net income (loss)	(90,768)			(90,768)
Balance at the end (in shares) at Mar. 31, 2021		452,126
Balance at the end at Mar. 31, 2021	356,785	$ 4,521	2,314,595	(1,725,324)	(237,007)
Balance at the beginning (in shares) at Dec. 31, 2021		496,152
Balance at the beginning at Dec. 31, 2021	529,237	$ 4,962	2,473,674	(1,712,392)	(237,007)
Increase (Decrease) in Shareholders' Equity
Dividends	12		12
Equity-based compensation	8,425		8,425
Restricted stock units (in shares)		3,377
Restricted stock units	0	$ 33	(33)
Tax withholdings on restricted stock units	(2,753)		(2,753)
Net income (loss)	1,400			1,400
Balance at the end (in shares) at Mar. 31, 2022		499,529
Balance at the end at Mar. 31, 2022	$ 536,321	$ 4,995	$ 2,479,325	$ (1,710,992)	$ (237,007)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net income (loss)	$ 1,400	$ (90,768)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depletion, depreciation and amortization (including deferred financing costs)	161,639	79,112
Deferred income taxes	(85,792)	(22,079)
Unsuccessful well costs and leasehold impairments	2,401	1,469
Change in fair value of derivatives	290,806	106,158
Cash settlements on derivatives, net (including $(83.6) million and $(28.6) million on commodity hedges during 2022 and 2021)	(93,050)	(32,998)
Equity-based compensation	8,392	8,281
Gain on sale of assets	0	(26)
Loss on extinguishment of debt	192	0
Other	(2,288)	(890)
Changes in assets and liabilities:
Increase in receivables	(24,786)	(13,278)
Increase in inventories	(8,238)	(25,045)
Increase in prepaid expenses and other	(12,799)	(2,409)
Increase (decrease) in accounts payable	13,385	(32,726)
Increase (decrease) in accrued liabilities	78,366	(21,427)
Net cash provided by (used in) operating activities	329,628	(46,626)
Investing activities
Oil and gas assets	(108,834)	(128,802)
Proceeds on sale of assets	118,222	631
Notes receivable from partners	0	(22,416)
Net cash provided by (used in) investing activities	9,388	(150,587)
Financing activities
Borrowings under long-term debt	0	100,000
Payments on long-term debt	(107,500)	(350,000)
Net proceeds from issuance of senior notes	0	444,375
Tax withholdings on restricted stock units	(2,753)	(1,018)
Dividends	(642)	(430)
Deferred financing costs	(5,738)	(1,034)
Net cash provided by (used in) financing activities	(116,633)	191,893
Net increase (decrease) in cash, cash equivalents and restricted cash	222,383	(5,320)
Cash, cash equivalents and restricted cash at beginning of period	174,896	149,764
Cash, cash equivalents and restricted cash at end of period	397,279	144,444
Cash paid for:
Interest, net of capitalized interest	40,466	33,587
Income taxes, net of refund received	$ 18,356	$ 12,947

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Cash settlements on commodity hedges derivatives	$ (83.6)	$ (28.6)

Organization

Organization	3 Months Ended
Organization	Mar. 31, 2022
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	3 Months Ended
Accounting Policies	Mar. 31, 2022
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies General The interim consolidated financial statements included in this report are unaudited and, in the opinion of management, include all adjustments of a normal recurring nature necessary for a fair presentation of the results for the interim periods. The results of the interim periods shown in this report are not necessarily indicative of the final results to be expected for the full year. The interim consolidated financial statements were prepared in accordance with the requirements of the SEC for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by GAAP have been condensed or omitted from these interim consolidated financial statements. These interim consolidated financial statements and the accompanying notes should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2021, included in our annual report on Form 10-K. Reclassifications Certain prior period amounts have been reclassified to conform with the current presentation. Such reclassifications had no significant impact on our reported net income (loss), current assets, total assets, current liabilities, total liabilities, stockholders’ equity or cash flows. Cash, Cash Equivalents and Restricted Cash March 31, December 31, (In thousands) Cash and cash equivalents $ 337,834 $ 131,620 Restricted cash - current 59,140 42,971 Restricted cash - long-term 305 305 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 397,279 $ 174,896 Cash and cash equivalents include demand deposits and funds invested in highly liquid instruments with original maturities of three months or less at the date of purchase. When our net leverage ratio exceeds 2.50x, we are required under the Facility to maintain a restricted cash balance that is sufficient to meet the payment of interest and fees for the next six-month period on the 7.125% Senior Notes, the 7.750% Senior Notes and the 7.500% Senior Notes plus the Corporate Revolver or the Facility, whichever is greater. As of March 31, 2022 we have restricted cash of approximately $59.1 million to meet our requirements based on the December 31, 2021 ratio. As of March 31, 2022 our net leverage ratio was below 2.50x, and therefore the $59.1 million is expected to be released from restricted cash in May 2022 upon submission of the net leverage test as of March 31, 2022. Inventories Inventories consisted of $140.8 million and $149.5 million of materials and supplies and $12.6 million and $15.7 million of hydrocarbons as of March 31, 2022 and December 31, 2021, respectively. The Company’s materials and supplies inventory primarily consists of casing and wellheads and is stated at the lower of cost, using the weighted average cost method, or net realizable value. Hydrocarbon inventory is carried at the lower of cost, using the weighted average cost method, or net realizable value. Hydrocarbon inventory costs include expenditures and other charges incurred in bringing the inventory to its existing condition. Selling expenses and general and administrative expenses are reported as period costs and excluded from inventory costs. Revenue Recognition Our oil and gas revenues are recognized when hydrocarbons have been sold to a purchaser at a fixed or determinable price, title has transferred and collection is probable. Certain revenues are based on provisional price contracts which contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from oil sales at the spot price on the date of sale. The embedded derivative, which is not designated as a hedge, is marked to market through oil and gas revenue each period until the final settlement occurs, which generally is limited to the month after the sale. Oil and gas revenue is composed of the following: Three Months Ended March 31, 2022 2021 (In thousands) Revenues from contract with customer - Equatorial Guinea $ 108,745 $ 26,431 Revenues from contract with customer - Ghana 417,107 59,351 Revenues from contract with customers - U.S. Gulf of Mexico 141,797 94,389 Provisional oil sales contracts (8,634) (3,697) Oil and gas revenue $ 659,015 $ 176,474 Concentration of Credit Risk Our revenue can be materially affected by current economic conditions and the price of oil and natural gas. However, based on the current demand for crude oil and natural gas and the fact that alternative purchasers are available, we believe that the loss of our marketing agents and/or any of the purchasers identified by our marketing agents would not have a long‑term material adverse effect on our financial position or results of operations. The continued economic disruption and volatility in the global and industry-wide markets resulting from the COVID-19 pandemic, Russia’s invasion of Ukraine, and other varying macroeconomic conditions 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.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
Acquisitions and Divestitures	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and DivestituresFollowing the closing of the acquisition of Anadarko WCTP Company (“Anadarko WCTP”) in the fourth quarter of 2021, Kosmos’ interest in the Jubilee Unit Area and the TEN fields offshore Ghana were 42.1% and 28.1%, respectively. Under the DT Block Joint Operating Agreement, certain joint venture partners have pre-emption rights in the Jubilee Unit Area and the TEN fields. In November 2021, we received notice from Tullow Oil plc (“Tullow”) and PetroSA that they intend to exercise their pre-emption rights in relation to Kosmos’ acquisition of Anadarko WCTP. After execution of definitive transaction documentation and receipt of governmental approvals, Kosmos concluded the pre-emption transaction with Tullow in March 2022. Following the completion of the pre-emption by Tullow, Kosmos’ interest in the Jubilee Unit Area decreased from 42.1% to 38.6% and Kosmos’ interest in the TEN fields decreased from 28.1% to 20.4%. Tullow paid Kosmos $118.2 million in cash consideration after post closing adjustments for the pre-emption. During the first quarter of 2022, our oil and gas properties, net balance was reduced by $175.5 million, which includes the cash proceeds and net liabilities transferred to the purchaser as a result of concluding the Tullow pre-emption transaction. The difference in the net book value of the proved property, net liabilities transferred and adjusted purchase price qualified for treatment as a recovery of cost and normal retirement under ASC 932, which resulted in no gain or loss being recognized. For PetroSA, the pre-emption process is ongoing and remains subject to execution of definitive agreements and required government approvals. Following completion of the pre-emption for PetroSA, Kosmos' ultimate interests in the Jubilee Unit Area and TEN fields would be reduced to 38.3% and 19.8%, respectively.

Joint Interest Billings and Lon

Joint Interest Billings and Long-term Receivables	3 Months Ended
Joint Interest Billings and Long-term Receivables	Mar. 31, 2022
Joint Interest Billings
Joint Interest Billings and Long-term Receivables	Joint Interest Billings and Long-term Receivables Joint Interest Billings The Company’s joint interest billings consist of receivables from partners with interests in common oil and gas properties operated by the Company for shared costs. Joint interest billings are classified on the face of the consolidated balance sheets as current and long-term receivables based on when collection is expected to occur. In Ghana, the foreign contractor group funded GNPC’s 5% share of the TEN development costs. The foreign contractor group is being reimbursed for such costs plus interest out of a portion of GNPC’s TEN production revenues. As of March 31, 2022 and December 31, 2021, the current portions of the joint interest billing receivables due from GNPC for the TEN fields development costs were $6.8 million and $7.9 million, respectively, and the long-term portions were $21.8 million and $20.9 million, respectively. Notes Receivables In February 2019, Kosmos and BP signed Carry Advance Agreements with the national oil companies of Mauritania and Senegal obligating us 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 March 31, 2022 and December 31, 2021, the balance due from the national oil companies was $147.2 million and $145.2 million, respectively, which is classified as Long-term receivables on our consolidated balance sheets. Interest income on the long-term notes receivable was $2.0 million and $1.6 million for the three months ended March 31, 2022 and 2021, 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. As a result of the above transactions entered into by BP Operator, Kosmos recognized a Long-term receivable of $200.2 million from BP Operator for our share of the consideration paid from BP Buyer to and held by BP Operator as well as a $200.2 million FPSO Contract Liability in Other long-term liabilities related to the deferred sale of the Tortue FPSO. As of March 31, 2022, this Long-term receivable has been non-cash settled against obligations payable to BP Operator, which included $132.4 million and $67.8 million of non-cash capital expenditures during the fourth quarter of 2021 and the first quarter of 2022, respectively. These non-cash impacts are excluded from the statement of cash flows.

Property and Equipment

Property and Equipment	3 Months Ended
Property and Equipment	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment is stated at cost and consisted of the following: March 31, December 31, (In thousands) Oil and gas properties: Proved properties $ 6,693,404 $ 6,725,453 Unproved properties 469,333 451,454 Total oil and gas properties 7,162,737 7,176,907 Accumulated depletion (3,138,523) (2,999,584) Oil and gas properties, net 4,024,214 4,177,323 Other property 59,418 58,598 Accumulated depreciation (52,816) (51,934) Other property, net 6,602 6,664 Property and equipment, net $ 4,030,816 $ 4,183,987 We recorded depletion expense of $151.6 million and $70.6 million for the three months ended March 31, 2022 and 2021, respectively. During the three months ended March 31, 2022, our oil and gas properties, net balance was reduced by $175.5 million as a result of concluding the Tullow pre-emption transaction. See Note 3 — Acquisitions and Divestitures.

Suspended Well Costs

Suspended Well Costs	3 Months Ended
Suspended Well Costs	Mar. 31, 2022
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Suspended Well Costs	Suspended Well Costs The following table reflects the Company’s capitalized exploratory well costs on drilled wells as of and during the three months ended March 31, 2022. March 31, (In thousands) Beginning balance $ 218,180 Additions to capitalized exploratory well costs pending the determination of proved reserves 11,433 Reclassification due to determination of proved reserves — Capitalized exploratory well costs charged to expense — Ending balance $ 229,613 The following table provides an aging of capitalized exploratory well costs based on the date drilling was completed and the number of projects for which exploratory well costs have been capitalized for more than one year since the completion of drilling: March 31, December 31, (In thousands, except well counts) Exploratory well costs capitalized for a period of one year or less $ — $ 20,903 Exploratory well costs capitalized for a period of one to three years 59,319 30,389 Exploratory well costs capitalized for a period of four to six years 170,294 166,888 Ending balance $ 229,613 $ 218,180 Number of projects that have exploratory well costs that have been capitalized for a period greater than one year 4 3 As of March 31, 2022, the projects with exploratory well costs capitalized for more than one year since the completion of drilling are related to the BirAllah (formerly known as Marsouin) and Orca discoveries in Block C8 offshore Mauritania, the Yakaar and Teranga discoveries in the Cayar Offshore Profond block offshore Senegal, the Asam discovery in Block S offshore Equatorial Guinea, and the Winterfell discovery in Green Canyon Block 944 in the U.S. Gulf of Mexico. BirAllah and Orca Discoveries — In November 2015, we completed the Marsouin-1 exploration well in the northern part of Block C8 offshore Mauritania, which encountered hydrocarbon pay. During the fourth quarter of 2019, we completed the nearby Orca-1 exploration well which encountered hydrocarbon pay. The BirAllah and Orca discoveries are being analyzed as a joint development. During the first quarter of 2022, we continued progressing appraisal studies, maturing concept design, and 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 March 31, 2022, suspended well capitalized costs related to BirAllah and Orca discoveries approximates $62.0 million. Following additional evaluation, a decision regarding commerciality is expected to be made. 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. In July 2021, the current phase of the Cayar Block exploration license was extended up to an additional three years to 2024. The Yakaar and Teranga discoveries are being analyzed as a joint development. During the first quarter of 2022, we continued progressing appraisal studies and maturing concept design. Following additional evaluation, a decision regarding commerciality is expected to be made. 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. The active phase of the Block S exploration license is currently set to expire in December 2024. During the first quarter of 2022, engineering continued 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. Winterfell Discovery — In January 2021, we drilled the Winterfell-1 exploration well located in Green Canyon Block 944 in the U.S. Gulf of Mexico, which encountered hydrocarbon pay. In January 2022, we drilled the Winterfell-2 appraisal well which encountered hydrocarbon pay. We are currently in discussions with partners to define the development plan.

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt March 31, December 31, (In thousands) Outstanding debt principal balances: Facility $ 900,000 $ 1,000,000 7.125% Senior Notes 650,000 650,000 7.750% Senior Notes 400,000 400,000 7.500% Senior Notes 450,000 450,000 GoM Term Loan 167,500 175,000 Total 2,567,500 2,675,000 Unamortized deferred financing costs and discounts (51,871) (54,505) Total debt, net 2,515,629 2,620,495 Less: Current maturities of long-term debt (130,000) (30,000) Long-term debt, net $ 2,385,629 $ 2,590,495 __________________________________ Facility The Facility supports our oil and gas exploration, appraisal and development programs and corporate activities. As of March 31, 2022, borrowings under the Facility totaled $900.0 million and the undrawn availability under the facility was $335.2 million (limited by current commitments). During the first quarter of 2022, the Company made principal repayments totaling $100.0 million on the Facility. Final maturity of the Facility is in March 2027. As part of the last amendment to the Facility in May 2021, the Company incurred $15.2 million for loss on extinguishment of debt during the second quarter of 2021. In April 2022, during the Spring 2022 redetermination, the Company’s lending syndicate approved a borrowing base capacity in excess of the facility size of $1.25 billion. 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 the Company’s production assets in Ghana (excluding the additional interests in Jubilee and TEN acquired in the acquisition of Anadarko WCTP in October 2021) and Equatorial Guinea. In April 2022, the Company made a voluntary early principal repayment of an additional $100.0 million with the proceeds from the Tullow pre-emption transaction. See Note 3 — Acquisitions and Divestitures. Accordingly, $100.0 million of the total $900.0 million of borrowings under the Facility have been classified within Current maturities of long-term debt on our consolidated balance sheet as of March 31, 2022. 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 March 31, 2022 we have restricted cash of approximately $59.1 million to meet our requirements based on the December 31, 2021 ratio. As of March 31, 2022 our net leverage ratio was below 2.50x, and therefore the $59.1 million is expected to be released from restricted cash in May 2022 upon submission of the net leverage test as of March 31, 2022. We were in compliance with the financial covenants contained in the Facility as of March 31, 2022 (the most recent assessment date). The Facility, as amended, contains customary cross default provisions. Corporate Revolver On March 31, 2022, we refinanced the Corporate Revolver by replacing it with a new revolving credit facility agreement resulting in the following changes to the terms : • The total size of the Corporate Revolver is reduced from $400 million to $250 million. • The maturity date is extended from May 2022 to December 31, 2024. • Borrowings under the Corporate Revolver now bear interest at a rate equal to the secured overnight financing rate administered by the Federal Reserve Bank of New York plus a credit adjustment spread plus a 7.0% margin plus mandatory costs, if applicable. • Addition of a negative pledge covenant over the participating interests held by the Company’s wholly-owned subsidiary, Kosmos Energy Ghana Investments, in the WCTP and DT blocks offshore Ghana. • As the Corporate Revolver is intended to continue to largely remain undrawn, the Company is required to use the proceeds from any capital markets and loan transactions to first repay any drawn outstanding balance under the Corporate Revolver and the Company is subject to a cash sweep of at least 50% of the Company’s Excess Cash (as defined in the Corporate Revolver) to pay outstanding balances as of March 31 or September 30 in any calendar year. The Company capitalized $5.9 million of deferred financing costs associated with entering into the new revolving credit facility, which will be amortized over the term of the new revolving credit facility. As of March 31, 2022, there were no outstanding borrowings under the Corporate Revolver and the undrawn availability was $250.0 million The Corporate Revolver is available for general corporate purposes and for oil and gas exploration, appraisal and development programs. We were in compliance with the financial covenants contained in the Corporate Revolver as of March 31, 2022 (the most recent assessment date). The Corporate Revolver contains customary cross default provisions. 7.125% Senior Notes due 2026 In April 2019, the Company issued $650.0 million of 7.125% Senior Notes and received net proceeds of approximately $640.0 million after deducting commissions and other expenses. We used the net proceeds to redeem all of the previously issued 7.875% Senior Secured Notes due 2021, repay a portion of the outstanding indebtedness under the Corporate Revolver and pay fees and expenses related to the redemption, repayment and the issuance of the 7.125% Senior Notes. The 7.125% Senior Notes mature on April 4, 2026. Interest is payable in arrears each April 4 and October 4, commencing on October 4, 2019. The 7.125% Senior Notes are senior, unsecured obligations of Kosmos Energy Ltd. and rank equal in right of payment with all of its existing and future senior indebtedness (including all borrowings under the Corporate Revolver, 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. 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 $400.0 million Bridge Notes (which were issued during in the fourth quarter of 2021 in connection with the completion of the acquisition of Anadarko WCTP) 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. 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 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, and the 7.125% Senior Notes and the 7.750% Senior Notes. The 7.500% Senior Notes contain customary cross default provisions. GoM Term Loan In September 2020, the Company entered into a five-year $200.0 million senior secured term-loan credit agreement secured against the Company's U.S. Gulf of Mexico assets with net proceeds received of $197.7 million after deducting fees and other expenses. The GoM Term Loan also includes an accordion feature providing for incremental commitments of up to $100.0 million subject to certain conditions. The GoM Term Loan bears interest at an effective rate of approximately 6% per annum and matures in 2025, with quarterly principal repayments having started since the fourth quarter of 2021. As of March 31, 2022, $30.0 million of the total $167.5 million outstanding under the GoM Term Loan have been classified within Current maturities of long-term debt on our consolidated balance sheet. We were in compliance with the covenants, representations and warranties contained in the GoM Term Loan as of March 31, 2022 (the most recent assessment date). The GoM Term Loan contains customary cross default provisions as well as maturity acceleration provisions if certain Permitted Guaranteed Facilities are not refinanced prior to scheduled maturity. Principal Debt Repayments At March 31, 2022, the estimated repayments of debt during the five fiscal year periods and thereafter are as follows: Payments Due by Year Total 2022(2) 2023 2024 2025 2026 Thereafter (In thousands) Principal debt repayments(1) $ 2,567,500 $ 122,500 $ 30,000 $ 137,785 $ 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 March 31, 2022 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. In April 2022, the Company made a voluntary early principal repayment of an additional $100.0 million with the proceeds from the Tullow pre-emption transaction. See Note 3 — Acquisitions and Divestitures. Accordingly, $100.0 million of the total $900.0 million of borrowings under the Facility have been classified within Current maturities of long-term debt on our consolidated balance sheet as of March 31, 2022. (2) Represents payments for the period April 1, 2022 through December 31, 2022. Interest and other financing costs, net Interest and other financing costs, net incurred during the periods is comprised of the following: Three Months Ended March 31, 2022 2021 (In thousands) Interest expense $ 43,162 $ 31,435 Amortization—deferred financing costs 2,670 2,571 Loss on extinguishment of debt 192 — Capitalized interest (16,139) (8,641) Deferred interest (1,450) (194) Interest income (1,540) (1,825) Other, net 6,244 1,182 Interest and other financing costs, net $ 33,139 $ 24,528

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
Derivative Financial Instruments	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments We use financial derivative contracts to manage exposures to commodity price and interest rate fluctuations. We do not hold or issue derivative financial instruments for trading purposes. We manage market and counterparty credit risk in accordance with our policies and guidelines. In accordance with these policies and guidelines, our management determines the appropriate timing and extent of derivative transactions. We have included an estimate of non-performance risk in the fair value measurement of our derivative contracts as required by ASC 820 — Fair Value Measurement. Oil Derivative Contracts The following table sets forth the volumes in barrels underlying the Company’s outstanding oil derivative contracts and the weighted average prices per Bbl for those contracts as of March 31, 2022. Volumes and weighted average prices are net of any offsetting derivative contracts entered into. Weighted Average Price per Bbl Net Deferred Premium Payable/ Sold Term Type of Contract Index MBbl (Receivable) Put Floor Ceiling 2022: Apr — Dec Three-way collars Dated Brent 3,375 $ 0.64 $ 43.33 $ 56.67 $ 76.91 Apr — Dec Three-way collars NYMEX WTI 750 1.45 50.00 65.00 85.00 Apr — Dec Two-way collars Dated Brent 5,000 1.15 — 63.25 84.00 Apr — Dec Sold calls(1) Dated Brent 1,186 — — — 60.00 2023: Jan — Dec Three-way collars Dated Brent 2,000 0.92 47.50 65.00 95.25 __________________________________ (1) Represents call option contracts sold to counterparties to enhance other derivative positions The following tables disclose the Company’s derivative instruments as of March 31, 2022 and December 31, 2021, and gain/(loss) from derivatives during the three months ended March 31, 2022 and 2021, respectively: Estimated Fair Value Asset (Liability) Type of Contract Balance Sheet Location March 31, December 31, (In thousands) Derivatives not designated as hedging instruments: Derivative assets: Commodity Derivatives assets—current $ — $ 5,689 Provisional oil sales Receivables: Oil Sales — (853) Commodity Derivatives assets—long-term — 1,026 Derivative liabilities: Commodity Derivatives liabilities—current (248,021) (65,879) Commodity Derivatives liabilities—long-term (16,050) (6,298) Total derivatives not designated as hedging instruments $ (264,071) $ (66,315) Amount of Gain/(Loss) Three Months Ended March 31, Type of Contract Location of Gain/(Loss) 2022 2021 (In thousands) Derivatives not designated as hedging instruments: Provisional oil sales Oil and gas revenue $ (8,634) $ (3,697) Commodity Derivatives, net (282,172) (102,461) Total derivatives not designated as hedging instruments $ (290,806) $ (106,158) 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 March 31, 2022 and December 31, 2021, 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	3 Months Ended
Fair Value Measurements	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements In accordance with ASC 820 — Fair Value Measurement, fair value measurements are based upon inputs that market participants use in pricing an asset or liability, which are classified into two categories: observable inputs and unobservable inputs. Observable inputs represent market data obtained from independent sources, whereas unobservable inputs reflect a company’s own market assumptions, which are used if observable inputs are not reasonably available without undue cost and effort. We prioritize the inputs used in measuring fair value into the following fair value hierarchy: • Level 1 — quoted prices for identical assets or liabilities in active markets. • Level 2 — quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs derived principally from or corroborated by observable market data by correlation or other means. • Level 3 — unobservable inputs for the asset or liability. The fair value input hierarchy level to which an asset or liability measurement in its entirety falls is determined based on the lowest level input that is significant to the measurement in its entirety. The following tables present the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021, for each fair value hierarchy level: Fair Value Measurements Using: Quoted Prices in Active Markets for Significant Other Significant Identical Assets Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Total (In thousands) March 31, 2022 Assets: Commodity derivatives $ — $ — $ — $ — Provisional oil sales — — — — Liabilities: Commodity derivatives — (264,071) — (264,071) Total $ — $ (264,071) $ — $ (264,071) 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) The book values of cash and cash equivalents and restricted cash approximate fair value based on Level 1 inputs. Joint interest billings, oil sales and other receivables, and accounts payable and accrued liabilities approximate fair value due to the short-term nature of these instruments. Our long-term receivables, after any allowances for credit losses, and other long-term assets approximate fair value. The estimates of fair value of these items are based on Level 2 inputs. Commodity Derivatives Our commodity derivatives represent crude oil collars, put options and call options for notional barrels of oil at fixed Dated Brent or NYMEX WTI oil prices. The values attributable to our oil derivatives are based on (i) the contracted notional volumes, (ii) independent active futures price quotes for the respective index, (iii) a credit-adjusted yield curve applicable to each counterparty by reference to the credit default swap (“CDS”) market and (iv) an independently sourced estimate of volatility for the respective index. The volatility estimate was provided by certain independent brokers who are active in buying and selling oil options and was corroborated by market-quoted volatility factors. The deferred premium is included in the fair market value of the commodity derivatives. See Note 8 — Derivative Financial Instruments for additional information regarding the Company’s derivative instruments. Provisional Oil Sales The value attributable to provisional oil sales derivatives is based on (i) the sales volumes and (ii) the difference in the independent active futures price quotes for the respective index over the term of the pricing period designated in the sales contract and the spot price on the lifting date. Debt The following table presents the carrying values and fair values at March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value (In thousands) 7.125% Senior Notes $ 644,846 $ 638,248 $ 644,572 $ 632,587 7.750% Senior Notes 395,316 394,004 395,131 386,428 7.500% Senior Notes 445,055 432,666 444,892 424,688 GoM Term Loan 167,500 167,500 175,000 175,000 Facility 900,000 900,000 1,000,000 1,000,000 Total $ 2,552,717 $ 2,532,418 $ 2,659,595 $ 2,618,703 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 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. During the three months ended March 31, 2022 and 2021, the Company did not recognize impairment of proved oil and gas properties as no impairment indicators were identified. If we experience declines in oil pricing expectations in the

Equity-based Compensation

Equity-based Compensation	3 Months Ended
Equity-based Compensation	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Equity-based Compensation	Equity-based Compensation Restricted Stock Units We record equity-based compensation expense equal to the fair value of share-based payments over the vesting periods of the LTIP awards. We recorded compensation expense from awards granted under our LTIP of $8.4 million and $8.3 million during the three months ended March 31, 2022 and 2021, respectively. The total tax benefit was $1.4 million and $1.4 million during the three months ended March 31, 2022 and 2021, respectively. Additionally, we recorded a net tax shortfall (windfall) related to equity-based compensation of $1.2 million and $4.8 million during the three months ended March 31, 2022 and 2021, respectively. The fair value of awards vested was $17.4 million and $6.6 million during the three months ended March 31, 2022 and 2021, respectively. The Company granted restricted stock units with service vesting criteria and a combination of market and service vesting criteria under the LTIP. Substantially all of these grants vest over three years. Upon vesting, restricted stock units become issued and outstanding stock. The following table reflects the outstanding restricted stock units as of March 31, 2022: Weighted- Market / Service Weighted- Service Vesting Average Vesting Average Restricted Stock Grant-Date Restricted Stock Grant-Date Units Fair Value Units Fair Value (In thousands) (In thousands) Outstanding at December 31, 2021 4,696 $ 3.88 11,233 $ 5.28 Granted(1) 2,568 4.42 3,324 6.89 Forfeited(1) (102) 3.94 (381) 5.92 Vested (1,920) 4.46 (2,091) 5.98 Outstanding at March 31, 2022 5,242 3.93 12,085 5.58 __________________________________ (1) The restricted stock units with a combination of market and service vesting criteria may vest between 0% and 200% of the originally granted units depending upon market performance conditions. Awards vesting over or under target shares of 100% results in additional shares granted or forfeited, respectively, in the period the market vesting criteria is determined. As of March 31, 2022, total equity-based compensation to be recognized on unvested restricted stock units is $44.3 million over a weighted average period of 2.06 years. At March 31, 2022, the Company had approximately 6.2 million shares that remain available for issuance under the LTIP. For restricted stock units with a combination of market and service vesting criteria, the number of common shares to be issued is determined by comparing the Company’s total shareholder return with the total shareholder return of a predetermined group of peer companies over the performance period and can vest in up to 200% of the awards granted. The grant date fair value ranged from $1.06 to $9.52 per award. The Monte Carlo simulation model utilized multiple input variables that determined the probability of satisfying the market condition stipulated in the award grant and calculated the fair value of the award. The expected volatility utilized in the model was estimated using our historical volatility and the historical volatilities of our peer companies and ranged from 50.0% to 104.8%. The risk-free interest rate was based on the U.S. treasury rate for a term commensurate with the expected life of the grant and ranged from 0.2% to 2.5%.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesWe evaluate our estimated annual effective income tax rate each quarter, based on current and forecasted business results and enacted tax laws, and apply this tax rate to our ordinary income or loss to calculate our estimated tax expense or benefit. The Company excludes zero tax rate and tax-exempt jurisdictions from our evaluation of the estimated annual effective income tax rate. The tax effect of discrete items are recognized in the period in which they occur at the applicable statutory tax rate. During the three months ended March 31, 2022, our deferred tax liability decreased by approximately $130.4 million. Approximately $44.6 million of the decrease is the result of concluding the Tullow pre-emption transaction. See Note 3 - Acquisitions and Divestitures. The remaining $85.8 million decrease in our deferred tax liability is the result of originating deferred tax assets, primarily related to mark to market losses on commodity derivative contracts, and the recognition of other net deferred tax liabilities, primarily related to book depreciation and depletion expense in excess of amount reported for income tax purposes. Income (loss) before income taxes is composed of the following: Three Months Ended March 31, 2022 2021 (In thousands) United States $ 9,283 $ (21,842) Foreign 3,570 (85,631) Income (loss) before income taxes $ 12,853 $ (107,473) For the three months ended, March 31, 2022 and 2021, our effective tax rate was 89% and 16%, respectively. For the three months ended March 31, 2022 and 2021, our overall effective tax rates were impacted by: • The difference in our 21% U.S. income tax reporting rate and the 35% statutory tax rates applicable to our Ghanaian and Equatorial Guinean operations, • Jurisdictions that have a 0% statutory rate or where we have incurred losses and have recorded valuation allowances against the corresponding deferred tax assets, and • Other non-deductible expenses primarily in the U.S.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	3 Months Ended
Net Income (Loss) Per Share	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share The following table is a 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: Three Months Ended March 31, 2022 2021 (In thousands, except per share data) Numerator: Net income (loss) allocable to common stockholders $ 1,400 $ (90,768) Denominator: Weighted average number of shares outstanding: Basic 454,102 407,365 Restricted stock units(1) 15,062 — Diluted 469,164 407,365 Net income (loss) per share: Basic $ 0.00 $ (0.22) Diluted $ 0.00 $ (0.22) __________________________________ (1) We excluded outstanding restricted stock units of 0.5 million and 13.1 million for the three months ended March 31, 2022 and 2021, respectively, from the computations of diluted net income (loss) per share because the effect would have been anti-dilutive .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, we are involved in litigation, regulatory examinations and administrative proceedings primarily arising in the ordinary course of our business in jurisdictions in which we do business. Although the outcome of these matters cannot be predicted with certainty, management believes none of these matters, either individually or in the aggregate, would have a material effect upon the Company’s financial position; however, an unfavorable outcome could have a material adverse effect on our results from operations for a specific interim period or year. We currently have a commitment to drill one exploration well in Mauritania and a $200.2 million FPSO Contract Liability related to the deferred sale of the Greater Tortue FPSO. Performance Obligations

Additional Financial Informatio

Additional Financial Information	3 Months Ended
Additional Financial Information	Mar. 31, 2022
Additional Financial Information
Additional Financial Information	Additional Financial Information Accrued Liabilities Accrued liabilities consisted of the following: March 31, December 31, (In thousands) Accrued liabilities: Exploration, development and production $ 95,147 $ 61,881 Revenue payable 32,732 31,986 Current asset retirement obligations 3,254 3,222 General and administrative expenses 8,989 27,980 Interest 17,859 31,117 Income taxes 115,937 69,392 Taxes other than income 1,277 2,854 Derivatives 49,000 19,302 Other 6,297 2,936 $ 330,492 $ 250,670 Asset Retirement Obligations The following table summarizes the changes in the Company's asset retirement obligations as of and during the three months ended March 31, 2022: March 31, (In thousands) Asset retirement obligations: Beginning asset retirement obligations $ 325,459 Liabilities incurred during period 2,583 Liabilities settled during period (10,200) Revisions in estimated retirement obligations 388 Accretion expense 6,443 Ending asset retirement obligations $ 324,673 During the three months ended March 31, 2022 our asset retirement obligations were reduced by approximately $10.0 million as a result of concluding the Tullow pre-emption transaction. See Note 3 — Acquisitions and Divestitures. Other Expenses, Net Other expenses, net incurred during the period is comprised of the following: Three Months Ended March 31, 2022 2021 (In thousands) Loss on disposal of inventory $ 217 $ 367 Loss on asset retirement obligations liability settlements 382 29 Restructuring charges 5 819 Other, net 1,822 2,253 Other expenses, net $ 2,426 $ 3,468 The restructuring charges are for employee severance and related benefit costs incurred as part of a corporate reorganization.

Business Segment Information

Business Segment Information	3 Months Ended
Business Segment Information	Mar. 31, 2022
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information Kosmos is engaged in a single line of business, which is the exploration, development and production of oil and gas. At March 31, 2022, 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) Three months ended March 31, 2022 Revenues and other income: Oil and gas revenue $ 409,480 $ 107,738 $ — $ 141,797 $ — $ — $ 659,015 Other income, net — — — 544 315,113 (315,605) 52 Total revenues and other income 409,480 107,738 — 142,341 315,113 (315,605) 659,067 Costs and expenses: Oil and gas production 75,343 22,625 — 26,735 — — 124,703 Facilities insurance modifications, net 7,136 — — — — — 7,136 Exploration expenses 71 1,610 3,114 6,576 505 — 11,876 General and administrative 3,969 1,602 1,996 4,944 46,715 (33,433) 25,793 Depletion, depreciation and amortization 101,409 17,939 53 39,194 374 — 158,969 Interest and other financing costs, net(1) 15,026 (481) (12,839) 2,725 28,708 — 33,139 Derivatives, net — — — — 282,172 — 282,172 Other expenses, net 250,562 19,123 586 13,378 949 (282,172) 2,426 Total costs and expenses 453,516 62,418 (7,090) 93,552 359,423 (315,605) 646,214 Income (loss) before income taxes (44,036) 45,320 7,090 48,789 (44,310) — 12,853 Income tax expense (benefit) (15,019) 23,330 — 3,102 40 — 11,453 Net income (loss) $ (29,017) $ 21,990 $ 7,090 $ 45,687 $ (44,350) $ — $ 1,400 Consolidated capital expenditures $ (64,185) $ 10,222 $ 10,801 $ 24,303 $ 1,179 $ — $ (17,680) As of March 31, 2022 Property and equipment, net $ 1,665,220 $ 454,524 $ 1,009,447 $ 883,698 $ 17,927 $ — $ 4,030,816 Total assets $ 3,046,270 $ 1,077,040 $ 1,417,676 $ 3,407,899 $ 17,567,805 $ (21,495,329) $ 5,021,361 ______________________________________ (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 the interest pre-empted by Tullow prior to the March 17, 2022 closing date of the Tullow pre-emption transaction. Additionally, cash consideration of $118.2 million is included as reduction in Consolidated capital expenditures. Ghana Equatorial Guinea Mauritania/Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (In thousands) Three months ended March 31, 2021 Revenues and other income: Oil and gas revenue $ 54,053 $ 28,032 $ — $ 94,389 $ — $ — $ 176,474 Gain on sale of assets — — — — 26 — 26 Other income, net — — — 329 137,499 (137,758) 70 Total revenues and other income 54,053 28,032 — 94,718 137,525 (137,758) 176,570 Costs and expenses: Oil and gas production 12,386 11,629 — 21,737 — — 45,752 Facilities insurance modifications, net 671 — — — — — 671 Exploration expenses 32 1,893 2,174 1,148 2,934 — 8,181 General and administrative 2,587 1,051 1,973 5,239 45,105 (33,514) 22,441 Depletion, depreciation and amortization 23,635 9,191 15 43,251 449 — 76,541 Interest and other financing costs, net(1) 11,916 (369) (9,816) 4,566 20,015 (1,784) 24,528 Derivatives, net — — — — 102,461 — 102,461 Other expenses, net 71,121 17,069 784 14,489 2,466 (102,461) 3,468 Total costs and expenses 122,348 40,464 (4,870) 90,430 173,430 (137,759) 284,043 Income (loss) before income taxes (68,295) (12,432) 4,870 4,288 (35,905) 1 (107,473) Income tax expense (benefit) (23,868) 2,634 — — 4,529 — (16,705) Net income (loss) $ (44,427) $ (15,066) $ 4,870 $ 4,288 $ (40,434) $ 1 $ (90,768) Consolidated capital expenditures $ 4,624 $ 11,424 $ 72,752 $ 24,267 $ 3,482 $ — $ 116,549 As of March 31, 2021 Property and equipment, net $ 1,275,156 $ 429,494 $ 659,659 $ 983,208 $ 21,931 $ — $ 3,369,448 Total assets $ 1,351,071 $ 726,427 $ 981,710 $ 3,246,891 $ 13,825,435 $ (16,172,448) $ 3,959,086 ______________________________________ (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. Three Months Ended March 31, 2022 2021 (In thousands) Consolidated capital expenditures: Consolidated Statements of Cash Flows - Investing activities: Oil and gas assets $ 108,834 $ 128,802 Adjustments: Changes in capital accruals 1,689 (10,409) Exploration expense, excluding unsuccessful well costs and leasehold impairments(1) 9,475 6,712 Capitalized interest (16,139) (8,641) Proceeds on sale of assets (118,222) — Other (3,317) 85 Total consolidated capital expenditures $ (17,680) $ 116,549 ______________________________________ (1) Unsuccessful well costs are included in oil and gas assets when incurred.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
Accounting Policies (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
General	General The interim consolidated financial statements included in this report are unaudited and, in the opinion of management, include all adjustments of a normal recurring nature necessary for a fair presentation of the results for the interim periods. The results of the interim periods shown in this report are not necessarily indicative of the final results to be expected for the full year. The interim consolidated financial statements were prepared in accordance with the requirements of the SEC for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by GAAP have been condensed or omitted from these interim consolidated financial statements. These interim consolidated financial statements and the accompanying notes should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2021, included in our annual report on Form 10-K.
Reclassifications	Reclassifications
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted CashCash and cash equivalents include demand deposits and funds invested in highly liquid instruments with original maturities of three months or less at the date of purchase. When our net leverage ratio exceeds 2.50x, we are required under the Facility to maintain a restricted cash balance that is sufficient to meet the payment of interest and fees for the next six-month period on the 7.125% Senior Notes, the 7.750% Senior Notes and the 7.500% Senior Notes plus the Corporate Revolver or the Facility, whichever is greater.
Inventories	InventoriesThe Company’s materials and supplies inventory primarily consists of casing and wellheads and is stated at the lower of cost, using the weighted average cost method, or net realizable value. Hydrocarbon inventory is carried at the lower of cost, using the weighted average cost method, or net realizable value. Hydrocarbon inventory costs include expenditures and other charges incurred in bringing the inventory to its existing condition. Selling expenses and general and administrative expenses are reported as period costs and excluded from inventory costs.
Revenue Recognition	Revenue Recognition Our oil and gas revenues are recognized when hydrocarbons have been sold to a purchaser at a fixed or determinable price, title has transferred and collection is probable. Certain revenues are based on provisional price contracts which contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from oil sales at the spot price on the date of sale. The embedded derivative, which is not designated as a hedge, is marked to market through oil and gas revenue each period until the final settlement occurs, which generally is limited to the month after the sale.
Concentration of Credit Risk	Concentration of Credit Risk Our revenue can be materially affected by current economic conditions and the price of oil and natural gas. However, based on the current demand for crude oil and natural gas and the fact that alternative purchasers are available, we believe that the loss of our marketing agents and/or any of the purchasers identified by our marketing agents would not have a long‑term material adverse effect on our financial position or results of operations. The continued economic disruption and volatility in the global and industry-wide markets resulting from the COVID-19 pandemic, Russia’s invasion of Ukraine, and other varying macroeconomic conditions 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.

Accounting Policies (Tables)

Accounting Policies (Tables)	3 Months Ended
Accounting Policies (Tables)	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of cash and cash equivalents	March 31, December 31, (In thousands) Cash and cash equivalents $ 337,834 $ 131,620 Restricted cash - current 59,140 42,971 Restricted cash - long-term 305 305 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $ 397,279 $ 174,896
Schedule of oil and gas revenue	Oil and gas revenue is composed of the following: Three Months Ended March 31, 2022 2021 (In thousands) Revenues from contract with customer - Equatorial Guinea $ 108,745 $ 26,431 Revenues from contract with customer - Ghana 417,107 59,351 Revenues from contract with customers - U.S. Gulf of Mexico 141,797 94,389 Provisional oil sales contracts (8,634) (3,697) Oil and gas revenue $ 659,015 $ 176,474

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
Property and Equipment (Tables)	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment is stated at cost and consisted of the following: March 31, December 31, (In thousands) Oil and gas properties: Proved properties $ 6,693,404 $ 6,725,453 Unproved properties 469,333 451,454 Total oil and gas properties 7,162,737 7,176,907 Accumulated depletion (3,138,523) (2,999,584) Oil and gas properties, net 4,024,214 4,177,323 Other property 59,418 58,598 Accumulated depreciation (52,816) (51,934) Other property, net 6,602 6,664 Property and equipment, net $ 4,030,816 $ 4,183,987

Suspended Well Costs (Tables)

Suspended Well Costs (Tables)	3 Months Ended
Suspended Well Costs (Tables)	Mar. 31, 2022
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 three months ended March 31, 2022. March 31, (In thousands) Beginning balance $ 218,180 Additions to capitalized exploratory well costs pending the determination of proved reserves 11,433 Reclassification due to determination of proved reserves — Capitalized exploratory well costs charged to expense — Ending balance $ 229,613
Schedule of aging of capitalized exploratory well costs and number of projects for which exploratory well costs were capitalized for more than one year	The following table provides an aging of capitalized exploratory well costs based on the date drilling was completed and the number of projects for which exploratory well costs have been capitalized for more than one year since the completion of drilling: March 31, December 31, (In thousands, except well counts) Exploratory well costs capitalized for a period of one year or less $ — $ 20,903 Exploratory well costs capitalized for a period of one to three years 59,319 30,389 Exploratory well costs capitalized for a period of four to six years 170,294 166,888 Ending balance $ 229,613 $ 218,180 Number of projects that have exploratory well costs that have been capitalized for a period greater than one year 4 3

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of debt	March 31, December 31, (In thousands) Outstanding debt principal balances: Facility $ 900,000 $ 1,000,000 7.125% Senior Notes 650,000 650,000 7.750% Senior Notes 400,000 400,000 7.500% Senior Notes 450,000 450,000 GoM Term Loan 167,500 175,000 Total 2,567,500 2,675,000 Unamortized deferred financing costs and discounts (51,871) (54,505) Total debt, net 2,515,629 2,620,495 Less: Current maturities of long-term debt (130,000) (30,000) Long-term debt, net $ 2,385,629 $ 2,590,495
Schedule of estimated repayments of debt	At March 31, 2022, the estimated repayments of debt during the five fiscal year periods and thereafter are as follows: Payments Due by Year Total 2022(2) 2023 2024 2025 2026 Thereafter (In thousands) Principal debt repayments(1) $ 2,567,500 $ 122,500 $ 30,000 $ 137,785 $ 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 March 31, 2022 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. In April 2022, the Company made a voluntary early principal repayment of an additional $100.0 million with the proceeds from the Tullow pre-emption transaction. See Note 3 — Acquisitions and Divestitures. Accordingly, $100.0 million of the total $900.0 million of borrowings under the Facility have been classified within Current maturities of long-term debt on our consolidated balance sheet as of March 31, 2022. (2) Represents payments for the period April 1, 2022 through December 31, 2022.
Schedule of interest and other financing costs, net	Interest and other financing costs, net incurred during the periods is comprised of the following: Three Months Ended March 31, 2022 2021 (In thousands) Interest expense $ 43,162 $ 31,435 Amortization—deferred financing costs 2,670 2,571 Loss on extinguishment of debt 192 — Capitalized interest (16,139) (8,641) Deferred interest (1,450) (194) Interest income (1,540) (1,825) Other, net 6,244 1,182 Interest and other financing costs, net $ 33,139 $ 24,528

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
Derivative Financial Instruments (Tables)	Mar. 31, 2022
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 March 31, 2022. Volumes and weighted average prices are net of any offsetting derivative contracts entered into. Weighted Average Price per Bbl Net Deferred Premium Payable/ Sold Term Type of Contract Index MBbl (Receivable) Put Floor Ceiling 2022: Apr — Dec Three-way collars Dated Brent 3,375 $ 0.64 $ 43.33 $ 56.67 $ 76.91 Apr — Dec Three-way collars NYMEX WTI 750 1.45 50.00 65.00 85.00 Apr — Dec Two-way collars Dated Brent 5,000 1.15 — 63.25 84.00 Apr — Dec Sold calls(1) Dated Brent 1,186 — — — 60.00 2023: Jan — Dec Three-way collars Dated Brent 2,000 0.92 47.50 65.00 95.25 __________________________________
Schedule of derivative instruments by balance sheet location	The following tables disclose the Company’s derivative instruments as of March 31, 2022 and December 31, 2021, and gain/(loss) from derivatives during the three months ended March 31, 2022 and 2021, respectively: Estimated Fair Value Asset (Liability) Type of Contract Balance Sheet Location March 31, December 31, (In thousands) Derivatives not designated as hedging instruments: Derivative assets: Commodity Derivatives assets—current $ — $ 5,689 Provisional oil sales Receivables: Oil Sales — (853) Commodity Derivatives assets—long-term — 1,026 Derivative liabilities: Commodity Derivatives liabilities—current (248,021) (65,879) Commodity Derivatives liabilities—long-term (16,050) (6,298) Total derivatives not designated as hedging instruments $ (264,071) $ (66,315)
Schedule of derivative instruments by location of gain/(loss)	Amount of Gain/(Loss) Three Months Ended March 31, Type of Contract Location of Gain/(Loss) 2022 2021 (In thousands) Derivatives not designated as hedging instruments: Provisional oil sales Oil and gas revenue $ (8,634) $ (3,697) Commodity Derivatives, net (282,172) (102,461) Total derivatives not designated as hedging instruments $ (290,806) $ (106,158)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021, for each fair value hierarchy level: Fair Value Measurements Using: Quoted Prices in Active Markets for Significant Other Significant Identical Assets Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Total (In thousands) March 31, 2022 Assets: Commodity derivatives $ — $ — $ — $ — Provisional oil sales — — — — Liabilities: Commodity derivatives — (264,071) — (264,071) Total $ — $ (264,071) $ — $ (264,071) 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)
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 March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value (In thousands) 7.125% Senior Notes $ 644,846 $ 638,248 $ 644,572 $ 632,587 7.750% Senior Notes 395,316 394,004 395,131 386,428 7.500% Senior Notes 445,055 432,666 444,892 424,688 GoM Term Loan 167,500 167,500 175,000 175,000 Facility 900,000 900,000 1,000,000 1,000,000 Total $ 2,552,717 $ 2,532,418 $ 2,659,595 $ 2,618,703

Equity-based Compensation (Tabl

Equity-based Compensation (Tables)	3 Months Ended
Equity-based Compensation (Tables)	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of outstanding restricted stock units	The following table reflects the outstanding restricted stock units as of March 31, 2022: Weighted- Market / Service Weighted- Service Vesting Average Vesting Average Restricted Stock Grant-Date Restricted Stock Grant-Date Units Fair Value Units Fair Value (In thousands) (In thousands) Outstanding at December 31, 2021 4,696 $ 3.88 11,233 $ 5.28 Granted(1) 2,568 4.42 3,324 6.89 Forfeited(1) (102) 3.94 (381) 5.92 Vested (1,920) 4.46 (2,091) 5.98 Outstanding at March 31, 2022 5,242 3.93 12,085 5.58 __________________________________ (1) The restricted stock units with a combination of market and service vesting criteria may vest between 0% and 200% of the originally granted units depending upon market performance conditions. Awards vesting over or under target shares of 100% results in additional shares granted or forfeited, respectively, in the period the market vesting criteria is determined.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
Income Taxes (Tables)	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of components of income (loss) before income taxes	Income (loss) before income taxes is composed of the following: Three Months Ended March 31, 2022 2021 (In thousands) United States $ 9,283 $ (21,842) Foreign 3,570 (85,631) Income (loss) before income taxes $ 12,853 $ (107,473)

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
Net Income (Loss) Per Share (Tables)	Mar. 31, 2022
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	The following table is a 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: Three Months Ended March 31, 2022 2021 (In thousands, except per share data) Numerator: Net income (loss) allocable to common stockholders $ 1,400 $ (90,768) Denominator: Weighted average number of shares outstanding: Basic 454,102 407,365 Restricted stock units(1) 15,062 — Diluted 469,164 407,365 Net income (loss) per share: Basic $ 0.00 $ (0.22) Diluted $ 0.00 $ (0.22) __________________________________ (1) We excluded outstanding restricted stock units of 0.5 million and 13.1 million for the three months ended March 31, 2022 and 2021, respectively, from the computations of diluted net income (loss) per share because the effect would have been anti-dilutive .

Additional Financial Informat_2

Additional Financial Information (Tables)	3 Months Ended
Additional Financial Information (Tables)	Mar. 31, 2022
Additional Financial Information
Schedule of accrued liabilities	Accrued liabilities consisted of the following: March 31, December 31, (In thousands) Accrued liabilities: Exploration, development and production $ 95,147 $ 61,881 Revenue payable 32,732 31,986 Current asset retirement obligations 3,254 3,222 General and administrative expenses 8,989 27,980 Interest 17,859 31,117 Income taxes 115,937 69,392 Taxes other than income 1,277 2,854 Derivatives 49,000 19,302 Other 6,297 2,936 $ 330,492 $ 250,670
Schedule of changes in asset retirement obligations	The following table summarizes the changes in the Company's asset retirement obligations as of and during the three months ended March 31, 2022: March 31, (In thousands) Asset retirement obligations: Beginning asset retirement obligations $ 325,459 Liabilities incurred during period 2,583 Liabilities settled during period (10,200) Revisions in estimated retirement obligations 388 Accretion expense 6,443 Ending asset retirement obligations $ 324,673
Schedule of other expenses, net incurred	Other expenses, net incurred during the period is comprised of the following: Three Months Ended March 31, 2022 2021 (In thousands) Loss on disposal of inventory $ 217 $ 367 Loss on asset retirement obligations liability settlements 382 29 Restructuring charges 5 819 Other, net 1,822 2,253 Other expenses, net $ 2,426 $ 3,468

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
Business Segment Information (Tables)	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of business segment information	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) Three months ended March 31, 2022 Revenues and other income: Oil and gas revenue $ 409,480 $ 107,738 $ — $ 141,797 $ — $ — $ 659,015 Other income, net — — — 544 315,113 (315,605) 52 Total revenues and other income 409,480 107,738 — 142,341 315,113 (315,605) 659,067 Costs and expenses: Oil and gas production 75,343 22,625 — 26,735 — — 124,703 Facilities insurance modifications, net 7,136 — — — — — 7,136 Exploration expenses 71 1,610 3,114 6,576 505 — 11,876 General and administrative 3,969 1,602 1,996 4,944 46,715 (33,433) 25,793 Depletion, depreciation and amortization 101,409 17,939 53 39,194 374 — 158,969 Interest and other financing costs, net(1) 15,026 (481) (12,839) 2,725 28,708 — 33,139 Derivatives, net — — — — 282,172 — 282,172 Other expenses, net 250,562 19,123 586 13,378 949 (282,172) 2,426 Total costs and expenses 453,516 62,418 (7,090) 93,552 359,423 (315,605) 646,214 Income (loss) before income taxes (44,036) 45,320 7,090 48,789 (44,310) — 12,853 Income tax expense (benefit) (15,019) 23,330 — 3,102 40 — 11,453 Net income (loss) $ (29,017) $ 21,990 $ 7,090 $ 45,687 $ (44,350) $ — $ 1,400 Consolidated capital expenditures $ (64,185) $ 10,222 $ 10,801 $ 24,303 $ 1,179 $ — $ (17,680) As of March 31, 2022 Property and equipment, net $ 1,665,220 $ 454,524 $ 1,009,447 $ 883,698 $ 17,927 $ — $ 4,030,816 Total assets $ 3,046,270 $ 1,077,040 $ 1,417,676 $ 3,407,899 $ 17,567,805 $ (21,495,329) $ 5,021,361 ______________________________________ (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 the interest pre-empted by Tullow prior to the March 17, 2022 closing date of the Tullow pre-emption transaction. Additionally, cash consideration of $118.2 million is included as reduction in Consolidated capital expenditures. Ghana Equatorial Guinea Mauritania/Senegal U.S. Gulf of Mexico Corporate & Other Eliminations Total (In thousands) Three months ended March 31, 2021 Revenues and other income: Oil and gas revenue $ 54,053 $ 28,032 $ — $ 94,389 $ — $ — $ 176,474 Gain on sale of assets — — — — 26 — 26 Other income, net — — — 329 137,499 (137,758) 70 Total revenues and other income 54,053 28,032 — 94,718 137,525 (137,758) 176,570 Costs and expenses: Oil and gas production 12,386 11,629 — 21,737 — — 45,752 Facilities insurance modifications, net 671 — — — — — 671 Exploration expenses 32 1,893 2,174 1,148 2,934 — 8,181 General and administrative 2,587 1,051 1,973 5,239 45,105 (33,514) 22,441 Depletion, depreciation and amortization 23,635 9,191 15 43,251 449 — 76,541 Interest and other financing costs, net(1) 11,916 (369) (9,816) 4,566 20,015 (1,784) 24,528 Derivatives, net — — — — 102,461 — 102,461 Other expenses, net 71,121 17,069 784 14,489 2,466 (102,461) 3,468 Total costs and expenses 122,348 40,464 (4,870) 90,430 173,430 (137,759) 284,043 Income (loss) before income taxes (68,295) (12,432) 4,870 4,288 (35,905) 1 (107,473) Income tax expense (benefit) (23,868) 2,634 — — 4,529 — (16,705) Net income (loss) $ (44,427) $ (15,066) $ 4,870 $ 4,288 $ (40,434) $ 1 $ (90,768) Consolidated capital expenditures $ 4,624 $ 11,424 $ 72,752 $ 24,267 $ 3,482 $ — $ 116,549 As of March 31, 2021 Property and equipment, net $ 1,275,156 $ 429,494 $ 659,659 $ 983,208 $ 21,931 $ — $ 3,369,448 Total assets $ 1,351,071 $ 726,427 $ 981,710 $ 3,246,891 $ 13,825,435 $ (16,172,448) $ 3,959,086 ______________________________________ (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. Three Months Ended March 31, 2022 2021 (In thousands) Consolidated capital expenditures: Consolidated Statements of Cash Flows - Investing activities: Oil and gas assets $ 108,834 $ 128,802 Adjustments: Changes in capital accruals 1,689 (10,409) Exploration expense, excluding unsuccessful well costs and leasehold impairments(1) 9,475 6,712 Capitalized interest (16,139) (8,641) Proceeds on sale of assets (118,222) — Other (3,317) 85 Total consolidated capital expenditures $ (17,680) $ 116,549 ______________________________________ (1) Unsuccessful well costs are included in oil and gas assets when incurred.

Organization (Details)

Organization (Details)	3 Months Ended
Organization (Details)	Mar. 31, 2022segment
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	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 337,834	$ 131,620
Restricted cash - current	59,140	42,971
Restricted cash - long-term	305	305
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$ 397,279	$ 174,896	$ 144,444	$ 149,764

Accounting Policies - Narrative

Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended
Accounting Policies - Narrative (Details) $ in Thousands	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019
Restricted Cash
Restricted cash - current	$ 59,140	$ 42,971
Materials and supplies inventory	140,800	149,500
Hydrocarbons inventory	$ 12,600	$ 15,700
Facility
Restricted Cash
Net leverage ratio	2.50
Facility Interest Or Senior Notes Plus The Corporate Revolver
Restricted Cash
Period for contractual future payments	6 months
Restricted cash - current	$ 59,100
7.125% Senior Notes \| Senior Notes
Restricted Cash
Interest rate					7.125%
7.750% Senior Notes \| Senior Notes
Restricted Cash
Interest rate			7.75%
7.500% Senior Notes \| Senior Notes
Restricted Cash
Interest rate				7.50%

Accounting Policies - Summary o

Accounting Policies - Summary of Oil and Gas Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Provisional oil sales contracts	$ (290,806)	$ (106,158)
Oil and gas revenue	659,015	176,474
Oil and gas revenue
Disaggregation of Revenue [Line Items]
Provisional oil sales contracts	(8,634)	(3,697)
Oil and gas revenue	659,015	176,474
Equatorial Guinea
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	108,745	26,431
Ghana
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	417,107	59,351
U.S. Gulf of Mexico
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 141,797	$ 94,389

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Mar. 31, 2021	Oct. 31, 2021
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Proceeds on sale of assets		$ 118,222	$ 631
Gain on sale of assets		0	$ 26
Tullow
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Gain on sale of assets		0
Winterfell Green Canyon Blocks \| Green Canyon Blocks 943, 944, 987, 988, 899 and 900
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Payments to acquire businesses, gross		$ 9,600
Winterfell Green Canyon Blocks \| Green Canyon Blocks 943, 944, 987 and 988
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participating interest percentage acquired	5.50%
Winterfell Green Canyon Blocks \| Green Canyon Blocks 899 and 900
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participating interest percentage acquired	1.50%
Jubilee Unit \| Deepwater Tano Block Joint Operating Agreement
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participating interest after pre-emption	38.60%	38.60%
Ultimate interest upon full exercise of pre-emption rights	38.30%	38.30%
Jubilee Unit \| Anadarko WCTP
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participating interest percentage after acquired interest				42.10%
TEN fields \| Deepwater Tano Block Joint Operating Agreement
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participating interest after pre-emption	20.40%	20.40%
Ultimate interest upon full exercise of pre-emption rights	19.80%	19.80%
TEN fields \| Anadarko WCTP
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Participating interest percentage after acquired interest				28.10%
Jubilee Unit Area And Ten Fields \| Tullow
Property Plant and Equipment Acquisitions and Divestitures [Line Items]
Proceeds on sale of assets	$ 118,200
Oil and gas property, net reduction from divestiture		$ 175,500

Joint Interest Billings and L_2

Joint Interest Billings and Long-term Receivables (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2019USD ($)agreement	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Aug. 31, 2021USD ($)	Mar. 31, 2021USD ($)
Oil and Gas Joint Interest Billing Receivables [Line Items]
Joint interest billings, net		$ 31,023	$ 36,908
Long-term receivables		168,990	191,150
BP Operator
Oil and Gas Joint Interest Billing Receivables [Line Items]
Long-term investments and receivables, net				$ 200,200
Settlement of payment obligation of capital expenditures		67,800	132,400
National Oil Companies of Mauritania And Senegal \| Carry Advance Agreements
Oil and Gas Joint Interest Billing Receivables [Line Items]
Long-term receivables		147,200	145,200
Number of agreements \| agreement	2
Share of development costs to be financed, up to	$ 240,000
Interest income, long-term notes receivable		2,000			$ 1,600
Greater Tortue FPSO \| BP Operator
Oil and Gas Joint Interest Billing Receivables [Line Items]
Contract liability, noncurrent		200,200		$ 200,200
TEN Discoveries \| GNPC
Oil and Gas Joint Interest Billing Receivables [Line Items]
Joint interest billings, net		6,800	7,900
Long-term receivables		$ 21,800	$ 20,900
GNPC \| TEN Discoveries
Oil and Gas Joint Interest Billing Receivables [Line Items]
GNPC's paying interest		5.00%

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Oil and gas properties:
Proved properties	$ 6,693,404		$ 6,725,453
Unproved properties	469,333		451,454
Total oil and gas properties	7,162,737		7,176,907
Accumulated depletion	(3,138,523)		(2,999,584)
Oil and gas properties, net	4,024,214		4,177,323
Other property	59,418		58,598
Accumulated depreciation	(52,816)		(51,934)
Other property, net	6,602		6,664
Property and equipment, net	4,030,816	$ 3,369,448	$ 4,183,987
Depletion expense	151,600	$ 70,600
Jubilee Unit Area And Ten Fields \| Tullow
Oil and gas properties:
Oil and gas property, net reduction from divestiture	$ 175,500

Suspended Well Costs - Summary

Suspended Well Costs - Summary of Suspended Well Costs (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)project	Dec. 31, 2021USD ($)project
Reconciliation of capitalized exploratory well costs on completed wells
Beginning balance	$ 218,180
Additions to capitalized exploratory well costs pending the determination of proved reserves	11,433
Reclassification due to determination of proved reserves	0
Capitalized exploratory well costs charged to expense	0
Ending balance	229,613
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	0	$ 20,903
Exploratory well costs capitalized for a period of one to three years	59,319	30,389
Exploratory well costs capitalized for a period of four to six years	170,294	166,888
Ending balance	$ 229,613	$ 218,180
Number of projects that have exploratory well costs that have been capitalized for a period greater than one year \| project	4	3

Suspended Well Costs - Narrativ

Suspended Well Costs - Narrative (Details) $ in Thousands	1 Months Ended
Suspended Well Costs - Narrative (Details) $ in Thousands	Jul. 31, 2021	Sep. 30, 2019km	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Capitalized Contract Cost [Line Items]
Capitalized costs			$ 229,613	$ 218,180
Additional term from exploration license extension	3 years
BirAllah and Orca Discoveries
Capitalized Contract Cost [Line Items]
Capitalized costs			$ 62,000
Yakaar and Teranga Discoveries
Capitalized Contract Cost [Line Items]
Distance from Yakaar-2 well to Yakaar-1 exploration well \| km		9

Debt - Schedule of Instruments

Debt - Schedule of Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019
Line of Credit Facility [Line Items]
Outstanding debt principal	$ 2,567,500	$ 2,675,000
Unamortized deferred financing costs and discounts	(51,871)	(54,505)
Total debt, net	2,515,629	2,620,495
Less: Current maturities of long-term debt	(130,000)	(30,000)
Long-term debt, net	2,385,629	2,590,495
Facility \| Revolving credit facility
Line of Credit Facility [Line Items]
Outstanding debt principal	900,000	1,000,000
7.125% Senior Notes \| Senior Notes
Line of Credit Facility [Line Items]
Interest rate					7.125%
Outstanding debt principal	650,000	650,000
7.750% Senior Notes \| Senior Notes
Line of Credit Facility [Line Items]
Interest rate			7.75%
Outstanding debt principal	400,000	400,000
7.500% Senior Notes \| Senior Notes
Line of Credit Facility [Line Items]
Interest rate				7.50%
Outstanding debt principal	450,000	450,000
GoM Term Loan \| Secured Debt
Line of Credit Facility [Line Items]
Outstanding debt principal	167,500	$ 175,000
Less: Current maturities of long-term debt	$ (30,000)

Debt - Facility (Details)

Debt - Facility (Details) $ in Thousands	1 Months Ended	3 Months Ended
Debt - Facility (Details) $ in Thousands	Apr. 30, 2022USD ($)	Mar. 31, 2022USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Apr. 30, 2019
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ (192)		$ 0
Restricted cash - current		$ 59,140			$ 42,971
Facility
Debt Instrument [Line Items]
Net leverage ratio		2.50
Facility Interest Or Senior Notes Plus The Corporate Revolver
Debt Instrument [Line Items]
Interval period for payment of interest		6 months
Restricted cash - current		$ 59,100
7.125% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Interest rate						7.125%
Revolving credit facility \| Facility
Debt Instrument [Line Items]
Amount outstanding		900,000
Undrawn availability		335,200
Principal repayments		100,000
Loss on extinguishment of debt			$ 15,200
Current maturities		$ 100,000
Revolving credit facility \| Facility \| Subsequent Event
Debt Instrument [Line Items]
Principal repayments	$ 100,000
Maximum borrowing capacity	$ 1,250,000

Debt - Corporate Revolver (Deta

Debt - Corporate Revolver (Details) - Corporate Revolver - Revolving credit facility - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2022	Mar. 30, 2022
Debt Instrument [Line Items]
Undrawn availability	$ 250	$ 250	$ 400
Cash sweep percent		50.00%
Amount outstanding	0	$ 0
Deferred financing costs	$ 5.9	$ 5.9
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin	7.00%

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended
Debt - Senior Notes (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Mar. 31, 2021	Apr. 30, 2019	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Repayments of debt				$ 107,500	$ 350,000
Senior Notes \| 7.125% Senior Notes
Debt Instrument [Line Items]
Interest rate			7.125%
Debt, face amount			$ 650,000
Proceeds from debt, net of issuance costs			$ 640,000
Senior Notes \| 7.875% Senior Notes
Debt Instrument [Line Items]
Interest rate			7.875%
Senior Notes \| 7.750% Senior Notes
Debt Instrument [Line Items]
Interest rate	7.75%
Debt, face amount	$ 400,000
Proceeds from debt, net of issuance costs	395,000
Senior Notes \| 7.500% Senior Notes
Debt Instrument [Line Items]
Interest rate		7.50%			7.50%
Debt, face amount		$ 450,000			$ 450,000
Proceeds from debt, net of issuance costs		$ 444,400
Senior Notes \| Bridge Notes
Debt Instrument [Line Items]
Repayments of debt	$ 400,000

Debt - GoM Term Loan (Details)

Debt - GoM Term Loan (Details) - USD ($) $ in Thousands	1 Months Ended
Debt - GoM Term Loan (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Current maturities of long-term debt		$ 130,000	$ 30,000
Outstanding debt principal		2,567,500	2,675,000
GoM Term Loan \| Secured Debt
Debt Instrument [Line Items]
Debt term	5 years
Debt, face amount	$ 200,000
Net proceeds from issuance of secured debt	197,700
Additional incremental commitments	$ 100,000
Debt instrument, interest rate, effective percentage	6.00%
Current maturities of long-term debt		30,000
Outstanding debt principal		$ 167,500	$ 175,000

Debt - Principal Debt Repayment

Debt - Principal Debt Repayments (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Scheduled maturities of debt during the five year period and thereafter
Total		$ 2,567,500	$ 2,675,000
2022		122,500
2023		30,000
2024		137,785
2025		327,977
2026		939,350
Thereafter		1,009,888
Facility \| Facility
Scheduled maturities of debt during the five year period and thereafter
Principal repayments		100,000
Current maturities		100,000
Amount outstanding		$ 900,000
Facility \| Facility \| Subsequent Event
Scheduled maturities of debt during the five year period and thereafter
Principal repayments	$ 100,000

Debt - Interest and Other Finan

Debt - Interest and Other Financing Costs, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Disclosure [Abstract]
Interest expense	$ 43,162	$ 31,435
Amortization—deferred financing costs	2,670	2,571
Loss on extinguishment of debt	192	0
Capitalized interest	(16,139)	(8,641)
Deferred interest	(1,450)	(194)
Interest income	(1,540)	(1,825)
Other, net	6,244	1,182
Interest and other financing costs, net	$ 33,139	$ 24,528

Derivative Financial Instrume_3

Derivative Financial Instruments - Oil Derivative Contracts (Details)	3 Months Ended
	Mar. 31, 2022$ / bblMBbls
Dated Brent \| Term April 2022 To December 2022 \| Three-way collars
Derivative Financial Instruments
Volume (mbbls) \| MBbls	3,375
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)	0.64
Sold Put (usd per bbl)	43.33
Floor (usd per bbl)	56.67
Ceiling (usd per bbl)	76.91
Dated Brent \| Term April 2022 To December 2022 \| Two-way collars
Derivative Financial Instruments
Volume (mbbls) \| MBbls	5,000
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)	1.15
Sold Put (usd per bbl)	0
Floor (usd per bbl)	63.25
Ceiling (usd per bbl)	84
Dated Brent \| Term April 2022 To December 2022 \| Sold calls
Derivative Financial Instruments
Volume (mbbls) \| MBbls	1,186
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)	0
Sold Put (usd per bbl)	0
Floor (usd per bbl)	0
Ceiling (usd per bbl)	60
Dated Brent \| Term January 2023 To December 2023 \| Three-way collars
Derivative Financial Instruments
Volume (mbbls) \| MBbls	2,000
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)	0.92
Sold Put (usd per bbl)	47.50
Floor (usd per bbl)	65
Ceiling (usd per bbl)	95.25
NYMEX WTI \| Term April 2022 To December 2022 \| Three-way collars
Derivative Financial Instruments
Volume (mbbls) \| MBbls	750
Weighted Average Price per Bbl
Net deferred premium payable/(receivable) (usd per bbl)	1.45
Sold Put (usd per bbl)	50
Floor (usd per bbl)	65
Ceiling (usd per bbl)	85

Derivative Financial Instrume_4

Derivative Financial Instruments - Derivative Instruments and Gain/(Loss) from Derivatives (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative instruments, Balance Sheet Location
Derivatives assets—current	$ 0	$ 5,689
Derivatives assets—long-term	0	1,026
Derivatives liabilities—current	(248,021)	(65,879)
Derivatives liabilities—long-term	(16,050)	(6,298)
Derivatives not designated as hedging instruments
Derivative instruments, Balance Sheet Location
Total derivatives not designated as hedging instruments	(264,071)	(66,315)
Derivatives not designated as hedging instruments \| Commodity
Derivative instruments, Balance Sheet Location
Derivatives assets—current	0	5,689
Derivatives assets—long-term	0	1,026
Derivatives liabilities—current	(248,021)	(65,879)
Derivatives liabilities—long-term	(16,050)	(6,298)
Derivatives not designated as hedging instruments \| Provisional oil sales \| Receivables: Oil Sales
Derivative instruments, Balance Sheet Location
Derivatives assets—current	$ 0	$ (853)

Derivative Financial Instrume_5

Derivative Financial Instruments - Location of Gain (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative instruments, Location of Gain/(Loss)
Amount of Gain/(Loss)	$ (290,806)	$ (106,158)
Provisional oil sales \| Oil and gas revenue
Derivative instruments, Location of Gain/(Loss)
Amount of Gain/(Loss)	(8,634)	(3,697)
Commodity \| Derivatives, net
Derivative instruments, Location of Gain/(Loss)
Amount of Gain/(Loss)	$ (282,172)	$ (102,461)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Oct. 31, 2021	Apr. 30, 2019
Liabilities:
Impairment of long-lived assets	$ 0	$ 0
Carrying Value
Liabilities:
Long-term debt	2,552,717		$ 2,659,595
Fair Value
Liabilities:
Long-term debt	2,532,418		2,618,703
7.125% Senior Notes \| Senior Notes
Liabilities:
Interest rate					7.125%
7.125% Senior Notes \| Senior Notes \| Carrying Value
Liabilities:
Long-term debt	644,846		644,572
7.125% Senior Notes \| Senior Notes \| Fair Value
Liabilities:
Long-term debt	638,248		632,587
7.750% Senior Notes \| Senior Notes
Liabilities:
Interest rate				7.75%
7.750% Senior Notes \| Senior Notes \| Carrying Value
Liabilities:
Long-term debt	395,316		395,131
7.750% Senior Notes \| Senior Notes \| Fair Value
Liabilities:
Long-term debt	394,004		386,428
7.500% Senior Notes \| Senior Notes
Liabilities:
Interest rate		7.50%
7.500% Senior Notes \| Senior Notes \| Carrying Value
Liabilities:
Long-term debt	445,055		444,892
7.500% Senior Notes \| Senior Notes \| Fair Value
Liabilities:
Long-term debt	432,666		424,688
GoM Term Loan \| Secured Debt \| Carrying Value
Liabilities:
Long-term debt	167,500		175,000
GoM Term Loan \| Secured Debt \| Fair Value
Liabilities:
Long-term debt	167,500		175,000
Facility \| Facility \| Carrying Value
Liabilities:
Long-term debt	900,000		1,000,000
Facility \| Facility \| Fair Value
Liabilities:
Long-term debt	900,000		1,000,000
Recurring basis
Liabilities:
Total derivatives not designated as hedging instruments	(264,071)		(66,315)
Recurring basis \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Liabilities:
Total derivatives not designated as hedging instruments	0		0
Recurring basis \| Significant Other Observable Inputs (Level 2)
Liabilities:
Total derivatives not designated as hedging instruments	(264,071)		(66,315)
Recurring basis \| Significant Unobservable Inputs (Level 3)
Liabilities:
Total derivatives not designated as hedging instruments	0		0
Recurring basis \| Commodity derivatives
Assets:
Derivative asset, fair value	0		6,715
Liabilities:
Derivative liability, fair value	(264,071)		(72,177)
Recurring basis \| Commodity derivatives \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Derivative asset, fair value	0		0
Liabilities:
Derivative liability, fair value	0		0
Recurring basis \| Commodity derivatives \| Significant Other Observable Inputs (Level 2)
Assets:
Derivative asset, fair value	0		6,715
Liabilities:
Derivative liability, fair value	(264,071)		(72,177)
Recurring basis \| Commodity derivatives \| Significant Unobservable Inputs (Level 3)
Assets:
Derivative asset, fair value	0		0
Liabilities:
Derivative liability, fair value	0		0
Recurring basis \| Provisional oil sales
Assets:
Derivative asset, fair value	0		(853)
Recurring basis \| Provisional oil sales \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Derivative asset, fair value	0		0
Recurring basis \| Provisional oil sales \| Significant Other Observable Inputs (Level 2)
Assets:
Derivative asset, fair value	0		(853)
Recurring basis \| Provisional oil sales \| Significant Unobservable Inputs (Level 3)
Assets:
Derivative asset, fair value	$ 0		$ 0

Equity-based Compensation - Nar

Equity-based Compensation - Narrative (Details) - LTIP - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized	$ 8.4	$ 8.3
Tax benefit	1.4	1.4
Net tax shortfall (windfall) related to equity-based compensation	1.2	4.8
Fair value of awards vested	$ 17.4	$ 6.6
Vesting period	3 years
Number of shares remaining available for grant (in shares)	6.2
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense not yet recognized	$ 44.3
Weighted average period over which compensation expense is to be recognized	2 years 21 days
Market/Service Vesting Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of awards granted (in dollars per share)	$ 6.89
Market/Service Vesting Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of the awards granted (up to)	0.00%
Grant date fair value of awards granted (in dollars per share)	$ 1.06
Expected volatility	50.00%
Risk-free interest rate	0.20%
Market/Service Vesting Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of the awards granted (up to)	200.00%
Grant date fair value of awards granted (in dollars per share)	$ 9.52
Expected volatility	104.80%
Risk-free interest rate	2.50%

Equity-based Compensation - Sch

Equity-based Compensation - Schedule of Awards (Details) - LTIP shares in Thousands	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Service Vesting Restricted Stock Units
Outstanding unvested awards activity
Outstanding at the beginning of the period (in shares) \| shares	4,696
Granted (in shares) \| shares	2,568
Forfeited (in shares) \| shares	(102)
Vested (in shares) \| shares	(1,920)
Outstanding at the end of the period (in shares) \| shares	5,242
Weighted-Average Grant-Date Fair Value
Outstanding at beginning of the period (in dollars per share)	$ 3.88
Granted (in dollars per share)	4.42
Forfeited (in dollars per share)	3.94
Vested (in dollars per share)	4.46
Outstanding at the end of the period (in dollars per share)	$ 3.93
Market/Service Vesting Restricted Stock Units
Outstanding unvested awards activity
Outstanding at the beginning of the period (in shares) \| shares	11,233
Granted (in shares) \| shares	3,324
Forfeited (in shares) \| shares	(381)
Vested (in shares) \| shares	(2,091)
Outstanding at the end of the period (in shares) \| shares	12,085
Weighted-Average Grant-Date Fair Value
Outstanding at beginning of the period (in dollars per share)	$ 5.28
Granted (in dollars per share)	6.89
Forfeited (in dollars per share)	5.92
Vested (in dollars per share)	5.98
Outstanding at the end of the period (in dollars per share)	5.58
Market/Service Vesting Restricted Stock Units \| Minimum
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share)	$ 1.06
Vesting percentage of the awards granted	0.00%
Market/Service Vesting Restricted Stock Units \| Maximum
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share)	$ 9.52
Vesting percentage of the awards granted	200.00%
Percent threshold target for grants and forfeitures	100.00%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Income Taxes
Decrease in deferred tax liability	$ 130.4
Decrease from other reconciling items	$ 85.8
Effective tax rate	89.00%	16.00%
Statutory tax rate	21.00%
Ghanaian and Equatorial Guinean
Income Taxes
Statutory tax rate	35.00%
Foreign
Income Taxes
Statutory tax rate	0.00%
Tullow
Income Taxes
Decrease from pre-emption transaction	$ 44.6

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Taxes
Income (loss) before income taxes	$ 12,853	$ (107,473)
United States
Income Taxes
Income (loss) before income taxes	9,283	(21,842)
Foreign
Income Taxes
Income (loss) before income taxes	$ 3,570	$ (85,631)

Net Income (Loss) Per Share (De

Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income (loss) allocable to common stockholders	$ 1,400	$ (90,768)
Weighted average number of shares outstanding:
Basic (in shares)	454,102	407,365
Restricted stock units (in shares)	15,062	0
Diluted (in shares)	469,164	407,365
Net income (loss) per share:
Basic (in dollars per share)	$ 0	$ (0.22)
Diluted (in dollars per share)	$ 0	$ (0.22)
Outstanding restricted stock units excluded from the computations of diluted net income per share (in shares)	500	13,100

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2022USD ($)well	Dec. 31, 2021USD ($)	Aug. 31, 2021USD ($)
Greater Tortue FPSO \| BP Operator
Operating Leased Assets [Line Items]
Contract liability, noncurrent	$ 200.2		$ 200.2
Mauritania
Operating Leased Assets [Line Items]
Number of exploration wells \| well	1
U.S. Gulf of Mexico \| Bureau of Ocean Energy Management \| Surety Bond
Operating Leased Assets [Line Items]
Required performance bonds	$ 195.5	$ 195.5
U.S. Gulf of Mexico \| Third Party \| Surety Bond
Operating Leased Assets [Line Items]
Required performance bonds	$ 3.5	$ 3.5

Additional Financial Informat_3

Additional Financial Information - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accrued liabilities:
Exploration, development and production	$ 95,147	$ 61,881
Revenue payable	32,732	31,986
Current asset retirement obligations	3,254	3,222
General and administrative expenses	8,989	27,980
Interest	17,859	31,117
Income taxes	115,937	69,392
Taxes other than income	1,277	2,854
Derivatives	49,000	19,302
Other	6,297	2,936
Accrued liabilities	$ 330,492	$ 250,670

Additional Financial Informat_4

Additional Financial Information - Schedule of Changes in Asset Retirement Obligations (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Asset retirement obligations:
Beginning asset retirement obligations	$ 325,459
Liabilities incurred during period	2,583
Liabilities settled during period	(10,200)
Revisions in estimated retirement obligations	388
Accretion expense	6,443
Ending asset retirement obligations	$ 324,673

Additional Financial Informat_5

Additional Financial Information - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Lessee, Lease, Description [Line Items]
Liabilities settled during period	$ 10,200
Tullow
Lessee, Lease, Description [Line Items]
Liabilities settled during period	$ 10,000

Additional Financial Informat_6

Additional Financial Information - Other Expenses, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Additional Financial Information
Loss on disposal of inventory	$ 217	$ 367
Loss on asset retirement obligations liability settlements	382	29
Restructuring charges	5	819
Other, net	1,822	2,253
Other expenses, net	$ 2,426	$ 3,468

Business Segment Information -

Business Segment Information - Narrative (Details)	3 Months Ended
Business Segment Information - Narrative (Details)	Mar. 31, 2022segment
Segment Reporting [Abstract]
Number of reportable segments	4

Business Segment Information _2

Business Segment Information - Business Segment Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Oil and gas revenue		$ 659,015	$ 176,474
Gain on sale of assets		0	26
Other income, net		52	70
Total revenues and other income		659,067	176,570
Oil and gas production		124,703	45,752
Facilities insurance modifications, net		7,136	671
Exploration expenses		11,876	8,181
General and administrative		25,793	22,441
Depletion, depreciation and amortization		158,969	76,541
Interest and other financing costs, net		33,139	24,528
Derivatives, net		282,172	102,461
Other expenses, net		2,426	3,468
Total costs and expenses		646,214	284,043
Income (loss) before income taxes		12,853	(107,473)
Income tax expense (benefit)		11,453	(16,705)
Net income (loss)		1,400	(90,768)
Consolidated capital expenditures		(17,680)	116,549
Property and equipment, net	$ 4,030,816	4,030,816	3,369,448	$ 4,183,987
Total assets	5,021,361	5,021,361	3,959,086	$ 4,940,651
Proceeds on sale of assets		118,222	631
Tullow
Segment Reporting Information [Line Items]
Gain on sale of assets		0
Jubilee Unit Area And Ten Fields \| Tullow
Segment Reporting Information [Line Items]
Proceeds on sale of assets	118,200
Corporate & Other
Segment Reporting Information [Line Items]
Oil and gas revenue		0	0
Gain on sale of assets			26
Other income, net		315,113	137,499
Total revenues and other income		315,113	137,525
Oil and gas production		0	0
Facilities insurance modifications, net		0	0
Exploration expenses		505	2,934
General and administrative		46,715	45,105
Depletion, depreciation and amortization		374	449
Interest and other financing costs, net		28,708	20,015
Derivatives, net		282,172	102,461
Other expenses, net		949	2,466
Total costs and expenses		359,423	173,430
Income (loss) before income taxes		(44,310)	(35,905)
Income tax expense (benefit)		40	4,529
Net income (loss)		(44,350)	(40,434)
Consolidated capital expenditures		1,179	3,482
Property and equipment, net	17,927	17,927	21,931
Total assets	17,567,805	17,567,805	13,825,435
Eliminations
Segment Reporting Information [Line Items]
Oil and gas revenue		0	0
Gain on sale of assets			0
Other income, net		(315,605)	(137,758)
Total revenues and other income		(315,605)	(137,758)
Oil and gas production		0	0
Facilities insurance modifications, net		0	0
Exploration expenses		0	0
General and administrative		(33,433)	(33,514)
Depletion, depreciation and amortization		0	0
Interest and other financing costs, net		0	(1,784)
Derivatives, net		0	0
Other expenses, net		(282,172)	(102,461)
Total costs and expenses		(315,605)	(137,759)
Income (loss) before income taxes		0	1
Income tax expense (benefit)		0	0
Net income (loss)		0	1
Consolidated capital expenditures		0	0
Property and equipment, net	0	0	0
Total assets	(21,495,329)	(21,495,329)	(16,172,448)
Ghana \| Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue		409,480	54,053
Gain on sale of assets			0
Other income, net		0	0
Total revenues and other income		409,480	54,053
Oil and gas production		75,343	12,386
Facilities insurance modifications, net		7,136	671
Exploration expenses		71	32
General and administrative		3,969	2,587
Depletion, depreciation and amortization		101,409	23,635
Interest and other financing costs, net		15,026	11,916
Derivatives, net		0	0
Other expenses, net		250,562	71,121
Total costs and expenses		453,516	122,348
Income (loss) before income taxes		(44,036)	(68,295)
Income tax expense (benefit)		(15,019)	(23,868)
Net income (loss)		(29,017)	(44,427)
Consolidated capital expenditures		(64,185)	4,624
Property and equipment, net	1,665,220	1,665,220	1,275,156
Total assets	3,046,270	3,046,270	1,351,071
Equatorial Guinea \| Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue		107,738	28,032
Gain on sale of assets			0
Other income, net		0	0
Total revenues and other income		107,738	28,032
Oil and gas production		22,625	11,629
Facilities insurance modifications, net		0	0
Exploration expenses		1,610	1,893
General and administrative		1,602	1,051
Depletion, depreciation and amortization		17,939	9,191
Interest and other financing costs, net		(481)	(369)
Derivatives, net		0	0
Other expenses, net		19,123	17,069
Total costs and expenses		62,418	40,464
Income (loss) before income taxes		45,320	(12,432)
Income tax expense (benefit)		23,330	2,634
Net income (loss)		21,990	(15,066)
Consolidated capital expenditures		10,222	11,424
Property and equipment, net	454,524	454,524	429,494
Total assets	1,077,040	1,077,040	726,427
Mauritania/Senegal \| Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue		0	0
Gain on sale of assets			0
Other income, net		0	0
Total revenues and other income		0	0
Oil and gas production		0	0
Facilities insurance modifications, net		0	0
Exploration expenses		3,114	2,174
General and administrative		1,996	1,973
Depletion, depreciation and amortization		53	15
Interest and other financing costs, net		(12,839)	(9,816)
Derivatives, net		0	0
Other expenses, net		586	784
Total costs and expenses		(7,090)	(4,870)
Income (loss) before income taxes		7,090	4,870
Income tax expense (benefit)		0	0
Net income (loss)		7,090	4,870
Consolidated capital expenditures		10,801	72,752
Property and equipment, net	1,009,447	1,009,447	659,659
Total assets	1,417,676	1,417,676	981,710
U.S. Gulf of Mexico \| Operating Segments
Segment Reporting Information [Line Items]
Oil and gas revenue		141,797	94,389
Gain on sale of assets			0
Other income, net		544	329
Total revenues and other income		142,341	94,718
Oil and gas production		26,735	21,737
Facilities insurance modifications, net		0	0
Exploration expenses		6,576	1,148
General and administrative		4,944	5,239
Depletion, depreciation and amortization		39,194	43,251
Interest and other financing costs, net		2,725	4,566
Derivatives, net		0	0
Other expenses, net		13,378	14,489
Total costs and expenses		93,552	90,430
Income (loss) before income taxes		48,789	4,288
Income tax expense (benefit)		3,102	0
Net income (loss)		45,687	4,288
Consolidated capital expenditures		24,303	24,267
Property and equipment, net	883,698	883,698	983,208
Total assets	$ 3,407,899	$ 3,407,899	$ 3,246,891

Business Segment Information _3

Business Segment Information - Consolidated Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting [Abstract]
Oil and gas assets	$ 108,834	$ 128,802
Changes in capital accruals	1,689	(10,409)
Exploration expense, excluding unsuccessful well costs and leasehold impairments	9,475	6,712
Capitalized interest	(16,139)	(8,641)
Proceeds on sale of assets	(118,222)	0
Other	(3,317)	85
Consolidated capital expenditures	$ (17,680)	$ 116,549