StockMarketWire.com - Kosmos Energy swung to a profit in the third quarter as revenue jumped.

For the three months ended 30 September, the company reported pre-tax income of $39.5m compared with a loss of $114.7m a year earlier.

Revenues rose to $357m from $250m a year earlier. The company sold 6.04m barrels of oil equivalent per day (MMBoe) in the third quarter, compared with 4.77MMBoe a year earlier, with total net production averaging approximately 68,800 barrels of oil equivalent per day in the quarter. 'At current oil prices we expect to deliver the 2019 free cash flow we set out at our capital markets day in February,' the company said.

'Our 2019 drilling program in Mauritania and Senegal has increased the gas initially in place to the top end of our 50-100 Tcf range,' it added.

At 10:12am: [LON:KOS] Kosmos Energy Ltd share price was -0.25p at 483p



Story provided by StockMarketWire.com