Kosmos Energy Stock Soars with Greater Tortue Ahmeyim Gas Production

Investing.com -- Kosmos Energy Ltd. (NYSE:KOS) shares rose by 9% on Thursday following the company's announcement that it has commenced the first gas production in the Greater Tortue Ahmeyim (GTA) project in partnership with BP Plc.

This news was welcomed as a positive development for the energy company, which has faced challenges due to delays in the project timeline. Progress towards liquefied natural gas (LNG) production is a critical step for Kosmos, with the first LNG cargo expected to be shipped in the first quarter of 2025. Kosmos indicated in a press release that this milestone aligns with the anticipated timeline for generating revenue from the GTA project, signaling a positive outlook for the company's finances.

Market reaction reflects optimism following a period of underperformance for Kosmos due to repeated delays in achieving the first gas production. Jefferies analyst Mark Wilson emphasized the significance of the first gas production in a note dated January 2, stating, "Given that KOS has been the worst-performing stock in our International E&P coverage due to continuous delays in this first gas timing, this development is an important positive factor for KOS."