Stock Market Today, Feb. 20: Kosmos Energy Surges After Ghana Extends Licenses to 2040 and Details $2B Drilling Plan
The Motley Fool
by newsfeedback@fool.com (Eric Trie)February 20, 2026
AI-Generated Deep Dive Summary
Kosmos Energy (NYSE: KOS) saw its stock surge by 22.03% on Friday, closing at $2.16 per share, as Ghana extended key offshore oil licenses through 2040 and unveiled a $2 billion drilling plan. This move has sparked investor interest, with trading volume reaching 45.8 million shares—nearly triple its three-month average of 18.2 million shares. The extension of licenses to 2040 is particularly significant for Kosmos Energy, as it provides long-term stability and growth opportunities in one of its core operational regions.
The rally comes amid broader market gains, with the S&P 500 rising 0.70% to 6,910 and the Nasdaq Composite gaining 0.90% to close at 22,886. Within the oil and gas sector, Occidental Petroleum (NYSE: OXY) closed at $51.84 (+0.60%), while Devon Energy (NYSE: DVN) ended slightly lower at $44.30 (-0.60%). These movements reflect a mixed sentiment across energy stocks as investors weigh the potential impact of Kosmos Energy's expanded drilling plans and hedging strategies on future reserves and cash flows.
For finance enthusiasts, this development highlights the importance of securing long-term licenses in the volatile oil and gas industry. The $2 billion drilling plan signals Kosmos Energy’s commitment to growth and could position it as a key player in offshore exploration over the next two decades. Investors will closely monitor how these new initiatives, combined with its hedging strategies, reshape the company's financial performance and reserve levels.
The sharp increase in trading volume for Kosmos
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Originally published on The Motley Fool on 2/20/2026