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TEXT-ALIGN: left; PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; MARGIN-LEFT: 10%; PADDING-TOP: 0pt;"> <dl compact="compact"> <dt style="FONT-FAMILY: times; MARGIN-BOTTOM: -11pt;"><font size="2">(1)</font></dt> <dd style="FONT-FAMILY: times;"><font size="2">Does not include purchase commitments for jointly owned fields and facilities where we are not the operator and excludes commitments for exploration activities, including well commitments, in our petroleum contracts.<br /> <br /></font></dd> <dt style="FONT-FAMILY: times; MARGIN-BOTTOM: -11pt;"><font size="2">(2)</font></dt> <dd style="FONT-FAMILY: times;"><font size="2">Commitments calculated using a day rate of $595,000 and an estimated rig delivery date of August&#160;1, 2014.</font></dd></dl></div> </div> 1 <div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="FONT-FAMILY: times;"><font size="2"><b>1. Organization</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Kosmos Energy&#160;Ltd. was incorporated pursuant to the laws of Bermuda in January 2011 to become a holding company for Kosmos Energy Holdings. Kosmos Energy Holdings is a privately held Cayman Islands company that was formed in March 2004. As a holding company, Kosmos Energy&#160;Ltd.'s management operations are conducted through a wholly owned subsidiary, Kosmos Energy,&#160;LLC. The terms "Kosmos," the "Company," "we," "us," "our," "ours," and similar terms when used in the present tense or prospectively or for historical periods since May&#160;16, 2011 refer to Kosmos Energy&#160;Ltd. and its wholly owned subsidiaries and for historical periods prior to May&#160;16, 2011 refer to Kosmos Energy Holdings and its wholly owned subsidiaries, unless the context indicates otherwise.</font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We are a leading independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. Our assets include existing production and other major development projects offshore Ghana, as well as exploration licenses with significant hydrocarbon potential offshore Ireland, Mauritania, Morocco (including Western Sahara) and Suriname. 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The 341.2&#160;million common shares included 10.0&#160;million service vesting restricted stock awards issued to management and employees in exchange for unvested profit units in connection with our corporate reorganization. The common shares have one vote per share and a par value of $0.01. As a result of this corporate reorganization, Kosmos Energy Holdings became wholly owned by Kosmos Energy&#160;Ltd. Subsequent to this exchange, we have one class of common stock with issued and outstanding shares.</font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Kosmos Energy&#160;Ltd. completed its IPO of 33.0&#160;million common shares on May&#160;16, 2011. In June 2011, the Company closed the sale of an additional 1.5&#160;million common shares pursuant to the over-allotment option exercised by the underwriters of the IPO. 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However, based on the current demand for crude oil and the fact that alternative purchasers are readily available, we believe that the loss of our marketing agent and/or any of the purchasers identified by our marketing agent would not have a long-term material adverse effect on our financial position or results of operations.</font></p> <p style="FONT-FAMILY: times;"><font size="2"><b>Recent Accounting Standards</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We do not expect the adoption of recently issued accounting pronouncements to have a material effect on our consolidated financial statements.</font></p> </div> <div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="FONT-FAMILY: times;"><font size="2"><b>Principles of Consolidation</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The accompanying consolidated financial statements include the accounts of Kosmos Energy&#160;Ltd. and its wholly owned subsidiaries. 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We determine our allowance by considering the length of time past due, future net revenues of the debtor's ownership interest in oil and natural gas properties we operate, and the owner's ability to pay its obligation, among other things. We did not have any allowances for doubtful accounts as of December&#160;31, 2013 and 2012.</font></p> </div> Kosmos Energy Ltd. 0001509991 10-K 2013-12-31 false --12-31 Yes Large Accelerated Filer 387595931 2013 FY <div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="FONT-FAMILY: times;"><font size="2"><b>Inventories</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Inventories consisted of $45.8&#160;million and $33.1&#160;million of materials and supplies and $1.6&#160;million and $0.2&#160;million of hydrocarbons as of December&#160;31, 2013 and 2012, respectively. 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