Kosmos Energy Ltd. (NYSE:KOS) is one of the best cheap stocks under $10 to buy in June.
On May 5, Kosmos Energy achieved record production in Q1 2026, averaging 74,800 barrels of oil equivalent per day, a 25% increase year-over-year
Despite this operational milestone, the company reported a net loss of $226 million, or an adjusted net loss of $36 million. Revenue for the period totaled $371 million, while production expenses were reduced by approximately 22% compared to the same quarter in 2025. The company is executing on its strategic goals to lower costs and reduce debt, completing a $350 million bond offering and a $200 million equity raise.
Consequently, management has increased the full-year debt reduction target from 10% to approximately 20%. Other major developments include the sale of assets in Equatorial Guinea, the final investment decision for the Tiberius project in the Gulf of America, and a new strategic exploration alliance with Shell. PLRANG ART/ Kosmos Energy Ltd. (NYSE:KOS) now maintains its full-year 2026 CapEx guidance of $350 million.