US independent Kosmos Energy is to slash capital spending this year by 30% to below $250 million as a result of poor market conditions. To further strengthen its balance sheet, the company will also cut jobs, reduce operating expenses, eliminate bonuses and suspend dividends. On capex cuts, the London-listed player said in a statement this week: "We have identified over $100 million of discretionary expenditure, largely related to exploration activities in the Gulf of Mexico and our basin-opening exploration portfolio.
展开▼
