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The information in this prospectus supplement and the accompanying prospectus is not complete and may be changed. This prospectus supplement and the accompanying prospectus are not an offer to sell these securities and we are not soliciting offers to buy these securities in any state or other jurisdiction where the offer or sale is not permitted.

Filed Pursuant to Rule 424(b)(3)
Registration No. 333-280362

SUBJECT TO COMPLETION, DATED MARCH 10, 2026

Prospectus Supplement
(To Prospectus dated June 20, 2024)

$175,000,000

Common Stock

Kosmos Energy Ltd.

We are offering $175,000,000 of shares of our common stock, par value $0.01 per share.

Our common stock is listed on The New York Stock Exchange (“NYSE”) and The London Stock Exchange (“LSE”) under the symbol “KOS.” The last reported sale price of our common stock on the NYSE on March 9, 2026 was $2.56 per share.

We intend to use the net proceeds from this offering to repay $100,000,000 of outstanding borrowings under our Facility (as defined herein) and the remainder for repayment of additional outstanding debt.

We have granted the underwriters a 30-day option to purchase up to an additional $26,250,000 of shares of common stock from us, at the public offering price, less the underwriting discounts and commissions.

Investing in our common stock involves risks. See “Risk Factors” beginning on page S-7 of this prospectus supplement and on page 5 of the accompanying prospectus.

Price to Public

Underwriting
Discounts and
Commissions

Proceeds to Kosmos
Before Expenses

Per Share

Total

Neither the Securities and Exchange Commission, any state securities commission nor any other regulatory body has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

Certain of our directors and officers have indicated an interest in purchasing approximately 3,000,000 shares of our common stock in this offering at the public offering price. Because indications of interest are not binding agreements or commitments to purchase, the underwriters may determine to sell more, less or no shares to such individuals in this offering. The underwriters will receive the same discount on any shares of common stock purchased by such individuals as they will from any other shares of common stock sold to the public in this offering.

The underwriters expect to deliver the common stock to purchasers on or about , 2026.

Joint Book-Running Managers

Barclays

Stifel

The date of this prospectus supplement is , 2026

	Page
Prospectus Supplement
About This Prospectus Supplement and the Accompanying Prospectus		S-iii
Basis of Presentation		S-iii
Non-U.S. GAAP Financial Measures		S-iii
Cautionary Note Regarding Forward-Looking Statements		S-iv
Summary		S-1
The Offering		S-3
Summary Historical Financial Data		S-5
Risk Factors		S-7
Use of Proceeds		S-9
Capitalization		S-10
Material U.S. Federal Income Tax Considerations for Non-U.S. Holders of Common Stock		S-12
Certain Erisa Considerations		S-15
Underwriting (Conflicts of Interest)		S-18
Legal Matters		S-27
Independent Registered Public Accounting Firm		S-27
Independent Reserve Engineers		S-27
Where You Can Find Additional Information and Incorporation of Certain Information by Reference		S-27
Prospectus
Kosmos Energy Ltd.		1
Where You Can Find More Information		2
Special Note on Forward-Looking Statements		3
Risk Factors		5
Description of Capital Stock		6
Description of Debt Securities		11
Description of Guarantees of Debt Securities		11
Description of Warrants		11

	Page
Description of Purchase Contracts		11
Description of Units		12
Forms of Securities		12
Plan of Distribution		14
Validity of Securities		16
Experts		16

	Years Ended December 31,
	2025			2024			2023
	(In thousands)
Revenues and other income:
Oil and gas revenue		$	1,288,352		$	1,675,358		$	1,701,608
Gain on sale of assets			2,200			—			—
Other income, net			1,098			204			(73)
Total revenues and other income			1,291,650			1,675,562			1,701,535
Costs and expenses:
Oil and gas production			708,902			530,514			390,097
Exploration expenses			223,616			119,907			42,278
General and administrative			76,120			100,155			99,532
Depletion, depreciation and amortization			556,774			456,774			444,927
Impairment of long-lived assets			177,563			—			222,278
Interest and other financing costs, net			223,430			88,598			95,904
Derivatives, net			(53,665)			12,099			11,128
Other expenses, net			13,491			17,703			23,656
Total costs and expenses			1,926,231			1,325,750			1,329,800
Income (loss) before income taxes			(634,581)			349,812			371,735
Income tax expense			65,205			159,961			158,215
Net income (loss)		$	(699,786)		$	189,851		$	213,520

	As of December 31,
	2025			2024
	(In thousands)
Cash and cash equivalents(1)		$	91,518		$	84,972
Total current assets			427,874			446,132
Property and equipment, net			3,733,784			4,444,221
Total other assets			534,968			418,635
Total assets			4,696,626			5,308,988
Total current liabilities			572,307			594,948
Total long-term liabilities			3,595,729			3,513,616
Total stockholders’ equity			528,590			1,200,424
Total liabilities and stockholders’ equity			4,696,626			5,308,988

	Actual			As Adjusted			As Further Adjusted
	(In thousands, unaudited)
Cash and cash equivalents(1)		$	91,518		$	91,518		$
Debt:
Facility		$	1,200,000		$	1,100,000		$	1,000,000
7.125% Senior Notes			100,000			—			—
7.750% Senior Notes(2)			350,000			100,000			100,000
7.500% Senior Notes			400,274			400,274			400,274
8.750% Senior Notes			500,000			500,000			500,000
3.125% Convertible Senior Notes			400,000			400,000			400,000
11.250% Senior Secured Notes			—			350,000			350,000
GoA Term Facility			150,000			250,000			250,000
Total Debt		$	3,100,274		$	3,100,274		$	3,000,274
Stockholders’ equity:
Preference shares, $0.01 par value; 200,000,000 authorized shares; zero issued		$	—		$	—		$	—
Common stock, $0.01 par value; 2,000,000,000 authorized shares; 522,590,223 (actual and as adjusted) and (as further adjusted)			5,226			5,226
Additional paid-in capital			2,542,627			2,542,627
Accumulated deficit			(1,782,256)			(1,782,256)			(1,782,256)
Treasury stock, at cost, 44,263,269 (actual, as adjusted and as further adjusted)			(237,007)			(237,007)			(237,007)
Total stockholders’ equity			528,590			528,590
Total capitalization		$	3,628,864		$	3,628,864		$

Underwriters			Number of Shares
Barclays Capital Inc
Stifel, Nicolaus & Company, Incorporated
Total

	Years Ended December 31,
	2025			2024			2023
	(in thousands)
Net cash provided by (used in):
Operating activities		$	134,012		$	678,249		$	765,170
Investing activities			(401,199)			(966,056)			(994,850)
Financing activities			299,654			274,323			141,620

	Years Ended December 31,
	2025			2024			2023
	(in thousands)
EBITDAX(1)		$	542,776		$	1,070,356		$	1,238,151
Capital Expenditures		$	292,188		$	828,813		$	849,999

SEC Form 424B3 filed by Kosmos Energy Ltd.