London-listed Kosmos Energy reported a net loss of $35,7 million for the fourth quarter of 2019. Total revenues and other income for the quarter were $462,5 million.
For comparison Kosmos Energy's 4Q 2018 profit was $185,5 million, on $309,5 million revenues. Capital expenditure for the fourth quarter of 2019 was $122 million.
Total net production in the fourth quarter of 2019 averaged approximately 65,200 barrels of oil equivalent per day. The company expects its net daily production in 2020 would be between 62,000 and 70,000 barrels.
The company expects to spend approximately $325 to $375 million in 2020, excluding Mauritania and Senegal, with spending focused on maintaining existing production and growth through infrastructure-led exploration.
In Mauritania and Senegal, where Kosmos is with BP developing the Greater Tortue Ahmeyim LNG project offshore project, total 2020 capital expenditure for Kosmos' approximately 30 percent working interest is expected to be around $250 million. Kosmos plans to fund this from proceeds from the previously announced and ongoing farm-down process.
Separately, Kosmos Energy said that Thomas P. Chambers would retire as the chief financial officer, a post he has held since November 2014.
He will be succeeded by Neal D. Shah, currently senior vice president and deputy chief financial officer. Shah has most recently served as head of the Equatorial Guinea business unit.
Further, Kosmos on Monday declared a quarterly cash dividend of $0.0452 per common share payable on March 26, 2020, to the stockholders of record at the close of business on Thursday, March 5, 2020.