KOS

Kosmos Energy Ltd

Energy First-pass screen £1.4bn

320/1000 Overall fit

AI beneficiary 35% 15

Operating leverage 25% 55

Valuation 25% 30

Downside protection 15% 40

First-pass take

Kosmos is a pure-play upstream oil & gas producer with zero AI exposure. Strong reserve base (20+ years) and forecast FCF upside as Mauritania/Senegal LNG projects complete and capex falls, but hampered by $2.1B net debt (1.4x leverage), $449M TEN field impairment, and cyclical commodity price exposure. No strategic fit.

Flags

no-valuation-datacommodity-producercyclicalimpairmentleverageupstream-oil-gas