Fair Value Measurements (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Fair Value Disclosures [Abstract] |
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| 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 June 30, 2025 and December 31, 2024, 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) | | June 30, 2025 | | | | | | | | | Assets: | | | | | | | | | Commodity derivatives | $ | — | | | $ | 18,793 | | | $ | — | | | $ | 18,793 | | | Interest rate derivatives | — | | | 875 | | | — | | | 875 | | | Decommissioning trust fund: | | | | | | | | | Debt securities | — | | | 23,190 | | | — | | | 23,190 | | | Liabilities: | | | | | | | | | Commodity derivatives | — | | | (6,396) | | | — | | | (6,396) | | | | | | | | | | | | | | | | | | | Total | $ | — | | | $ | 36,462 | | | $ | — | | | $ | 36,462 | | | December 31, 2024 | | | | | | | | | Assets: | | | | | | | | | Commodity derivatives | $ | — | | | $ | 7,226 | | | $ | — | | | $ | 7,226 | | | Provisional oil sales | — | | | 2,242 | | | — | | | 2,242 | | | Interest rate derivatives | — | | | 2,202 | | | — | | | 2,202 | | | Decommissioning trust fund: | | | | | | | | | Debt securities | — | | | 10,653 | | | — | | | 10,653 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | $ | — | | | $ | 22,323 | | | $ | — | | | $ | 22,323 | |
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| Schedule of Costs and Fair Values of Investments in Debt Securities in Decommissioning Trust Fund |
The following table summarizes Kosmos’ portion of the investment activity in debt securities held by the decommissioning trust during the three and six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | | | | | | | | | | | | Type of Security | | Purchases | | Net Proceeds (1) | | Unrealized Gain (Loss) | | Purchases | | Net Proceeds (1) | | Unrealized Gain (Loss) | | 2025 | | | | | | Debt securities | | $ | 198 | | | $ | — | | | $ | 22 | | | $ | 12,406 | | | $ | — | | | $ | 131 | | Cash and cash equivalents | | — | | | 2 | | | — | | | — | | | (745) | | | — | | Other(1) | | — | | | 23 | | | — | | | — | | | 166 | | | — | | Total | | $ | 198 | | | $ | 25 | | | $ | 22 | | | $ | 12,406 | | | $ | (579) | | | $ | 131 | | | 2024 | | | | | | | | | | | | | Debt securities | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | Cash and cash equivalents | | — | | | — | | | — | | | — | | | — | | | — | | Other(1) | | — | | | — | | | — | | | — | | | — | | | — | | Total | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
(1) Represents net receivables relating to interest.
The following table presents the costs and fair values of investments in debt securities held in the decommissioning trust fund according to the contractual maturities at June 30, 2025 and December 31, 2024:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | | Cost | | Estimated Fair Value | | Cost | | Estimated Fair Value | | | (In thousands) | Less than 5 years | | $ | 23,114 | | | $ | 23,190 | | | $ | 10,708 | | | $ | 10,653 | | 5 years to 10 years | | — | | | — | | | — | | | — | | Due after 10 years | | — | | | — | | | — | | | — | | Total | | $ | 23,114 | | | $ | 23,190 | | | $ | 10,708 | | | $ | 10,653 | |
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| 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 June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | | Carrying Value | | Fair Value | | Carrying Value | | Fair Value | | | (In thousands) | 7.125% Senior Notes | $ | 249,580 | | | $ | 241,655 | | | $ | 249,315 | | | $ | 246,565 | | 7.750% Senior Notes | 348,326 | | | 311,279 | | | 347,910 | | | 339,927 | | 7.500% Senior Notes | 398,042 | | | 329,446 | | | 397,672 | | | 379,404 | | 8.750% Senior Notes | 495,275 | | | 377,360 | | | 494,997 | | | 470,965 | | 3.125% Convertible Senior Notes | 392,343 | | | 275,208 | | | 391,603 | | | 332,792 | | | | | | | | | | | Facility | 1,000,000 | | | 1,000,000 | | | 900,000 | | | 900,000 | | | Total | $ | 2,883,566 | | | $ | 2,534,948 | | | $ | 2,781,497 | | | $ | 2,669,653 | |
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