A debt reduction milestone and a uranium spin-out stake defined Monday's small-cap oil and gas session. Kosmos Energy delivered a first-half balance sheet improvement of $400 million driven by strong well performance in Ghana, while Zenith Energy deepened its position in uranium explorer Reveille Resources ahead of the company's market admission.
Kosmos Energy cuts net debt by $400 million as Ghana wells surge
Kosmos Energy (KOS) reduced its net debt by $400 million in the first half of 2026, with the improvement underpinned by high-impact drilling results at the Jubilee field in Ghana. Chairman and chief executive Andrew G. Inglis highlighted the potential unlocked by the 2026 Ghana drilling programme, describing the initial well results as demonstrating Jubilee's capacity to deliver material production gains. The shares rose 3.43% to 155.14p on the news.
Zenith Energy takes further stake in Reveille ahead of uranium admission
Zenith Energy (ZEN) has secured two classes of warrants in uranium spin-out Reveille Resources, to be issued upon Reveille's market admission, adding to the stake Zenith already holds in the explorer. The arrangement positions Zenith to benefit from any upside as Reveille enters the public markets. Zenith shares slipped 3.09% to 4.7p.
