Gulf Keystone Petroleum Limited (LON:GKP) has received its latest payment from the Kurdistan authorities for crude produced at the Shaikan oil field.
The company received US$15mln gross from the Kurdistan Regional Government, and it said the money is for exports in October 2016.
Additionally, the company noted that it “continues to work” with the KRG to agree the final form of the invoices for May to October 2016.
Following the latest payment, Gulf Keystone says its cash balance now stands at US$106.1mln.
Genel Energy PLC (LON:GENL), another Kurdistan based oil producer, also announced KRG payments for crude exports from the Tawke oilfield.
It said that US$38.89mln was received for October 2016. That payment reflects full settlement of an invoice – comprising US$32.62mln towards monthly entitlement and US$6.27mln towards the recovery of historical receivables.
The payment will be shared pro-rata between Genel and partner DNO (the former owns a 25% stake in the Tawke field).