Kosmos Energy cuts costs and extends Ghana oil field licenses through 2040

Kosmos Energy has cut its operating costs by 26% so far in 2026 and raised its debt reduction target to 20% for the full year. The oil and gas company also received approval from Ghana's parliament to keep its Jubilee and TEN field licences until 2040. The extensions allow Kosmos to drill up to 20 more wells in Ghana, which is one of its most important production areas. The company has also agreed to sell its interests in Equatorial Guinea to Panoro Energy. To improve its finances, Kosmos secured a loan of up to $250 million from Shell, and used part of the money to pay off older debt. Its main borrowing facility remains above $1.35 billion.