Company
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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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.
“Ian brings a wealth of highly relevant finance experience within the sector to the management team, and to the board."
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
Archive
It was another busy week in the oil and gas sector with funding deals, project updates and customary financial results.
The Blackrock investment could be seen as third-party validation for the company, which two-and-a-half years ago underwent a painful refinancing
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.
Archive
IGas and Gulf Keystone are on the agenda, meanwhile Brexit will likely be a talking point for Eddie Stobart Logistics.
Archive
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
Veteran stock picker and Proactive contributor Zak Mir (@zakstraderscafe) provides his insight on this fallen angel of the oil sector
Investments and investor services
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
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
An investment programme aimed at reinvigorating the Shaikan field was signed off in the first half
Archive
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
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
It was another busy week for a number of small cap oil and gas firms.
Output is in decline and new investment is needed - GKP has the cash but it is holding out for a new crude sales deal
He takes over the position in April, stepping up from his current role of non-executive director
GKP now expects to produce between 27,000 to 32,000 barrels of crude per day
