Tag Archives | Gulf Keystone

The latest Gulf Keystone Business News – Kurdistan, oil finds / discoveries, Sheikh Adi near Erbil, Shaikan, share price rise – brought to you by Iraq Business News

GKP Adopts “Diversified Marketing Strategy”

By John Lee. Gulf Keystone Petroleum (GKP), the operator of the Shaikan field in the Kurdistan Region of Iraq, confirmed on Monday that it continues to produce in excess of 40,000 barrels of oil per day following the successful completion of ‘de-bottlenecking’ (sic) operations at PF-1. According to a statement this morning, as a result of the continuing […]

GKP Confirms Maersk Exec as New CEO

By John Lee. Gulf Keystone Petroleum (GKP) has confirmed that it is in the process of appointing Jón Ferrier as CEO. Following a brief transition period, John Gerstenlauer will retire as CEO and, at the forthcoming Annual General Meeting, as a Director of the Company. A further announcement will be made in due course. Jón […]

Gulf Keystone Losses Widen

Gulf Keystone Petroleum (GKP) this morning announced its results for the year ended 31 December 2014. HIGHLIGHTS Operational 2014 gross production of 6,484,391 barrels of oil (2013: 496,921 barrels of oil) with significant growth expected in 2015 Gulf Keystone’s operations in the Kurdistan Region remained secure with production operations and crude oil export deliveries from […]

GKP ex-Chairman Claims “Forced Out”

By John Lee. Gulf Keystone‘s former Chairman Simon Murray (pictured), whose retirement was announced by the company on Tuesday, told Reuters he was effectively forced to quit the company. Murray said he disagreed with the firm’s decision to raise $41 million through an equity issue at a 21 percent discount to the market, a move intended […]

GKP Slides on Share Placement

By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed the day down 9.9 percent, following the announcement that the company has successfully raised $40.7 million through a conditional placing of shares at a price of 32 pence per share, a 21 percent discount to the previous market close. The shares were placed through Mirabaud […]

GKP Shares Rally as Shaikan Ramps Up

By John Lee. Share in Gulf Keystone Petroleum (GKP), operator of the Shaikan field in the Kurdistan Region of Iraq, gained 20 percent on Wednesday as the company announced that it has resumed production and truck loading operations at both its production facilities (PF-1 and -2), in line with the pre-payment of US$ 26 million […]

GKP Reaches Production Target at Shaikan

By John Lee. Gulf Keystone Petroleum has announced that the existing Shaikan production facilities (“PF-1″ and “PF-2″) are now producing from seven wells with Shaikan-8 expected to come online in January 2015. Total daily production has been gradually increasing since early December 2014, reaching the Company’s 40,000 gross barrels of oil per day target on […]

GKP Shares Jump on Kurdistan Oil Update

By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed up more than 16 percent up on Tuesday, after the company issued an update on its operations at Shaikan, its key producing asset in Iraqi Kurdistan. The shares had been languishing at new lows earlier in the week, having lost more than three-quarters of their […]