Company
Gulf Keystone Petroleum Limited
LON:GKP
Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq.
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Today's Oil and Gas Update
Market Update: 23 May 2023TSE:AOI & LON:TLW - AOC withdraws from KenyaSouthern Energy Corporation (CVE: SOU) - Consolidates Gwinville positionLON:GKP - Suspends final $25m dividendEnergy NewsBrent Oil US$75.9/bbl vs US$75.6/bbl yesterdayWTI
Gulf Keystone Petroleum confirms ‘significant cash flow’ from Shaikan field
The company expects to produce 44,000 to 47,000 barrels of oil per day over 2022
Gulf Keystone Petroleum receives US$48.5mln of oil payments from KRG
It comes as the company aims to produce 44,000 to 50,000 barrels oil per day in 2022.
Gulf Keystone Petroleum shares rise as Kurdistan pays outstanding invoices from November 2019 to February 2020
The board approved a previously announced US$50mln special dividend
Gulf Keystone pledges US$25mln special dividend but shares dip as Kurdistan redraws repayment terms
It will pay a total of US$50mln in dividends, subject to next months AGM vote
Gulf Keystone Petroleum eyes opportunities for a ‘return to growth’
Programmes costing a total of US$3mln could yield an extra 5,000 bopd of production, the Iraq based oil company reveals.
Gulf Keystone Petroleum chief executive set to retire
Jón Ferrier will step down following a handover to his replacement.
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Today's Oil & Gas Update - Jersey Oil & Gas, Brent Oil, Gulf Keystone Petroleum and more...
Energy Prices Brent Oil US$33.7/bbl vs US$36.3/bbl on Friday WTI Oil US$31.0bbl vs US$33.2bbl on Friday Natural Gas US$1.90/mmbtu vs US$1.89/mmbtu on Friday
Gulf Keystone has reversed September's production downgrade, now expects to hit original target for 2019
The Iraq based oil successfully regained lost ground albeit a drilling delay means investors still need to wait for the much sought after, longer-term rate of 50,000 bopd.
Gulf Keystone Petroleum appoints Ian Weatherdon as new chief financial officer
“Ian brings a wealth of highly relevant finance experience within the sector to the management team, and to the board."
Gulf Keystone forced to delay 55,000 bopd production target date
The Iraqi Kurdistan-focused oiler had hoped to reach 55,000 bopd in the first quarter of 2020, but it has been forced to push this back by a few months
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Proactive oil and gas weekly highlights: Eco Atlantic Oil & Gas, Gulf Keystone Petroleum, Europa Oil & Gas ...
It was another busy week in the oil and gas sector with funding deals, project updates and customary financial results.
Gulf Keystone Petroleum: Big American investor pushes shareholding above 5%
The Blackrock investment could be seen as third-party validation for the company, which two-and-a-half years ago underwent a painful refinancing
Gulf Keystone pledges US$50mln dividend payout in 2019 as revenue hits new record high
GKP pledged to pay-out US$25mln per year to shareholders, plus an extra US$25mln in the first year of the new dividend policy.
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Blue chips to swerve Thursday’s Brexit fall-out, small caps will be in spotlight
IGas and Gulf Keystone are on the agenda, meanwhile Brexit will likely be a talking point for Eddie Stobart Logistics.
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Brexit date arrives but March 29 to be a damp squib although parliamentary vote might not be
Aside from the latest instalment of the Brexit saga, the week ahead will bring updates from housebuilder Bellway, tobacco firm Imperial Brands, and soft drinks group Fevertree
Gulf Keystone: Multiple M&A angles
Veteran stock picker and Proactive contributor Zak Mir (@zakstraderscafe) provides his insight on this fallen angel of the oil sector
Investments and investor services
Oil sector dominates the list of the year's stock market stars
It was a good year for a number of energy firms but the less said about companies dependent on the housing market or a healthy high street, the better
Peel Hunt spotlights 29 stocks with potential to double on 2-3 year view including Base Resources, Eland O&G, Motif Bio, Circassia
The City broker’s analysts pointed out that December is often a time for winding down and celebrating but with the FTSE All Share looking set to record its worst annual performance since 2008 the festive spirit is a little short this year
Gulf Keystone boss boasts of ‘key milestone achievements’ as first half profits rise
An investment programme aimed at reinvigorating the Shaikan field was signed off in the first half
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Heatwave may help or hurt sales at Wetherspoons, JD Sports, Primark and Dunelm
The week ahead includes annual results from Wetherspoons, Galliford Try and Dunelm along with interims from Morrisons and trading updates from AB Foods and Ashtead
Gulf Keystone Petroleum now "back in investment mode"
The company remains in discussion with the Ministry of Natural Resources and MOL Hungarian Oil & Gas over amendments to the Shaikan production sharing contract. It expects these negotiations will be concluded in the third quarter of 2018
Proactive Oil & Gas highlights: Echo Energy, SDX, Hurricane, Gulf Keystone, KrisEnergy
It was another busy week for a number of small cap oil and gas firms.
Gulf Keystone Petroleum reports first profit in Kurdistan but Shaikan investment is still on hold
Output is in decline and new investment is needed - GKP has the cash but it is holding out for a new crude sales deal
Gulf Keystone hires Jaap Huijskes as new chairman
He takes over the position in April, stepping up from his current role of non-executive director
Gulf Keystone gives lower production guidance as commercial uncertainty continues in Northern Iraq
GKP now expects to produce between 27,000 to 32,000 barrels of crude per day
Gulf Keystone appoints Jaap Huijskes as non-executive director
“[Huijskes] has an impressive industry track record in the oil and gas sector, including relevant experience in the Kurdistan region of Iraq"
Kurdistan oil firms confirm latest payments for crude sales
Political uncertainty has been the main topic of discussion for investors lately, nonetheless Friday's announcements show that cash continues to flow for the region's oil producers.
GKP and Genel Energy shares trade positively as investor fears ease
"Oil politics are creating tremendous pressures for peace in a region where otherwise the geopolitical context has all the seeds of war," said WH Ireland
PROACTIVE WEEKLY OIL NEWS: UKOG, GKP, President Energy, Jersey Oil & Gas, RockRose Energy, Providence Resources
Funding deals, acquisitions and planning permissions provided the week's oil and gas highlights.
GKP says Shaikan field continues safely as it seeks to allay concerns over operations in Iraq
Production at the Shaikan field had averaged 34,525 barrels of oil per day since the beginning of October
Gulf Keystone and Genel Energy shares slump as Iraq tensions ratchet higher
Political insecurity has been a key risk for investors in Kurdistan based oil stocks for quite some time, and the recent escalations have further dented share prices.
GKP's latest Kurdistan oil payment will come as a relief - broker
WH Ireland analyst Brendan Long said: “the first payment to GKP following the KRG independence vote is noteworthy."
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Proactive News Summary: GKP, Genel, Eco Atlantic Oil & Gas, Hurricane Energy, Aminex, Highlands Natural Resources
Hurricane Energy, Gulf Keystone and Highlands Natural Resources were among the week's oil and gas sector.
GKP and Genel Energy tumble as independence vote ramps up tensions between Kurdistan and Baghdad
Iraq's Kurdish population voted 93% in favour of independence, a result that's not been welcomed in Baghdad.
No end to political uncertainty for Genel and GKP as Kurdistan holds Iraq referendum
“Watch this closely for macro implications on crude oil prices and at the micro level for oil & gas companies operating in the country such as DNO, Genel, Gulf Keystone, ShaMaran, and Oryx”
GKP still hovering over investment trigger to ‘maintain’ Shaikan production volumes
New funds were previously raised to maintain the field’s output at 40,000 bopd, though in the first six months production averaged 36,664 bopd.
FTSE 100 holds gains to finish higher; Food retailers up
The FTSE 100 remained in positive territory while the Dow set another new high.
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Food price inflation to help online supermarket group Ocado, but more international deals wanted
Day ahead includes a third quarter trading update from Ocado, plus interim results from Iraq-focused explorer Gulf Keystone, and the start of the latest two-day Federal Reserve policy meeting
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Focus shifts to US interest rates with Fed meeting; UK retail updates due from Kingfisher, Ocado
Week ahead includes Federal Reserve interest rate announcement, UK retail sales data, second quarter results from Kingfisher PLC, and trading update from Ocado PLC
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A look at the world of small cap oil and gas news this week
Gulf Keystone on course to meet full-year production guidance
"We continue to be strongly encouraged by the stable performance of the Shaikan Field during 2017."
Gulf Keystone Petroleum shareholder GLG Partners reduces stake
In London’s early deals, Gulf Keystone shares were up 1.12p, or 1.13%, changing hands at 100.5p.
Hedge fund reduces Gulf Keystone stake; co receives latest payment from Kurdistan authorities
GLG Partners, which is owned by UK-listed Man Group PLC (LON:EMG) and has US$3.3bn under management, has dropped its stake to 4.84% from 5.74%
Former Gulf Keystone bidder snaps up North Sea assets
The Norway-headquartered oiler that missed on GKP last year has diversified with the acquisition of offshore assets in the North Sea.
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Proactive news round-up: StatPro Group, Bushveld Minerals, Hurricane Energy ...
A glance at some of the stories on the Proactive newswire today
Kurdistan-focused Gulf Keystone Petroleum making 'solid progress'
After 12 months during which it sealed a transformational but painful debt restructuring, the company was able to demonstrate progress both financially and operationally.
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Proactive news round-up: Gulf Keystone, Corero, Chesnara, Blur...
A glance at some of the stories on the Proactive newswire today
Gulf Keystone boss “strongly encouraged” by Shaikan performance
Having reset its finances, with a dilutive debt-for-equity swap, the company is now funded for the next programme of work.
FTSE 100 finishes lower as Fed's easy money set to end
The index of blue-chip shares succumbed to selling pressure
Gulf Keystone investors will be hoping the worst is over
Last year was extremely dilutive for GKP shareholders, they'll be hoping that 2017 will be better.
Investments and investor services
FTSE 100 finishes lower as Dow Jones plunges
Since the manufacturing index reached a two-and-a-half-year high last December, the story has been one of a gentle decline - Martin Beck, senior economic advisor to the EY ITEM Club
Has Gulf Keystone Petroleum turned the corner?
“Effectively under new management and after last year’s refinancing with a balance sheet that actually has net cash GKP is in a stronger position"
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ASOS tipped to show strength
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A review of the week's small cap oil and gas news...
Gulf Keystone: Cantor Fitzgerald repeats ‘buy’ recommendation amid export changes
With a 270p price target Cantor sees some 120% upside to Gulf Keystone’s current price.
Gulf Keystone to go long haul as Kurdistan takes Shaikan crude out of export pipeline
“We continue an active dialogue with the MNR to achieve satisfactory commercial and contractual clarity around payments and marketing," said chief executive Jón Ferrier.
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A look at the world of junior oil and gas stocks this week
Gulf Keystone receives further US$15mln payment for export sales from the Shaikan oil field
Analysts at broker Cantor Fitzgerald said: “The key issue in our view, remains whether a consistent payment mechanism can be established."
Gulf Keystone is optimistic about operations but payments remain uncertain
Chief executive Jón Ferrier emphasised the group’s operational performance in the Kurdistan region of Iraq..
Gulf Keystone is well capitalised and a buy - Cantor
“GKP is now a well-capitalised entity, with sufficient financial resources to grow its production base for sale to the export market,” says Cantor analyst Sam Wahab.
Gulf Keystone banks latest oil payment from Kurdistan
The Kurdistan based oiler says its still working with the authorities to agree final invoices for the period between May and October 2016.
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A glance at some of the stories on the Proactive newswire today.
Gulf Keystone Petroleum signs up new chief operating officer
CEO Jón Ferrier said Stuart Catterall "is a great addition to the team and we look forward to his contribution as we continue to increase production from the Shaikan field."
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Proactive Oil & Gas Highlights: Gulf Keystone, Shell, Cairn Energy, Premier Oil, Hurricane Energy, Jersey Oil & Gas, LGO Energy
The first week back brought little in the way of news but there was plenty of analyst coverage across the sector.
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A glance at some of the stories on the Proactive newswire today
Gulf Keystone is one of few oil and gas takeover targets – Peel Hunt
The Kurdistan based oil producer – which was recently rumour to be the subject of Chinese takeover interest - is one of five companies deemed by Peel Hunt to have a sensible mix of asset quality and balance sheet strength.
Gulf Keystone Petroleum shares rise on takeover talk
The Kurdistan oil firm's share rose 15% in London amid reports of a possible Chinese takeover.
Scotgold shines as Cononish mine presents more opportunities
The gold miner said it has identified opportunities to “further enhance the economics” of the operation at its Cononish mine in Scotland
“Well-capitalised” Gulf Keystone ready to begin Shaikan exports
Cantor Fitzgerald repeated its ‘buy’ recommendation for the stock and thinks the share price could more than double in the coming months
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A look at the week' s oil and gas news highlights.
Gulf Keystone to see £1 a share before Christmas … due to share consolidation
The Kurdistan oil firm, following its debt-for-equity swap, now intends to reduce the number of shares in issue from 22.94bn down to 228.4mln.
Why is takeover interest in Gulf Keystone cooling?
DNO is only prepared to make a lower cash offer for Gulf Keystone, but the London listed oiler is supposed to be in a stronger position - here we take a closer look.
Gulf Keystone "fully reset" after refinancing, says CFO
The company's debt-for-equity swap wiped from US$500mln from its US$600mln of liabilities, but left existing investors with just 14.5% of the Kurdistan-focused oil producer.
Broker says new Gulf Keystone is a ‘buy’, but is an 85% rally possible?
The NEW version of Gulf Keystone could rally to 2.7p, according to Cantor, but, analyst Sam Wahab notes that payment arrangements with the KRG remain the key issue.
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Proactive oil and gas summary - Gulf Keystone Petroleum, Mosman Oil and Gas and more
A look at last week's news from the small cap oil and gas sector
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A round-up of today's news on the Proactive newswire
Risers & fallers: Gulf Keystone slides as 21.9bn shares list
Some of the main news-driven share price changes at 4pm
Gulf Keystone ‘reborn’ as 22bn new shares hit London Stock Exchange
With the restructuring sealed attentions will likely turn to takeover talk for the remaining Gulf Keystone investors.
Gulf Keystone suitor DNO expands operations in Kurdistan
The Olso listed oiler, which recently made a 'low ball' tilt for GKP, has completed three of four new wells at its flagship Tawke field.
Risers & Fallers: Mercia Technologies, McCarthy & Stone, Vast Resources...
London's largest share price rises and falls at 4pm
Is Xcite Energy headed for the knackers’ yard?
It appears 1.5% of the 'rescued' company may not be enough to convince retail shareholders to accept a deal.
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