Tag Archives | Gulf Keystone Petroleum (GKP)#

GKP Shares Rise as Workover Completed

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading up 5 percent on Monday morning as the company announced that the planned workover on the SH-12 well has been completed safely. Jón Ferrier (pictured), Gulf Keystone's Chief Executive Officer, said: "We continue to successfully manage the challenging macro backdrop and make operational progress. […]

Ferrier Steps Down as CEO of GKP

Gulf Keystone Petroleum (GKP) has announced that Jón Ferrier (pictured), Chief Executive Officer, has informed the Board of his intention to retire from the Company upon appointment of a successor and after a period of handover. The Company is now commencing a formal, externally facilitated, search process and will provide an update as and when […]

GKP to Cut Workforce by 40%

By John Lee. Gulf Keystone Petroleum (GKP) has provided an operational and corporate update in advance of Friday's Annual General Meeting: Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "In response to the unprecedented COVID-19 pandemic and macroeconomic conditions, we took decisive actions to preserve liquidity and safeguard the long-term health of the business. We […]

GKP Directors Buy Shares

By John Lee. Gulf Keystone Petroleum (GKP) has announced that it was informed on 30th April 2020 of the following transactions by persons discharging managerial responsibilities and persons closely associated with them. Mr Ian Weatherdon (pictured), Chief Financial Officer, purchased 50,112 common shares in Gulf Keystone Petroleum Limited on 30 April 2020 at a price […]

GKP Shares up 10% on Results

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up around 10 percent on Thursday morning, following the company's announcement of its results for the year ended 31 December 2019. Jón Ferrier (pictured), Gulf Keystone's Chief Executive Officer, said: "2019 saw a step change in activity at Shaikan; we delivered production and controlled expenditures […]

KRG Delays Payments to Oil Firms

By John Lee. The Kurdistan Regional Government (KRG) has delayed payments to oil producers by several weeks. In statements to the markets on on Thursday, Genel Energy, Gulf Keystone Petroleum (GKP) and Shamaran Petroleum said that payments relating to invoices for oil production in August and September, which were due to be paid in November […]

GKP launches second Share Buyback Programme

Gulf Keystone Petroleum (GKP) has provided an operational and corporate update.  Operational Average gross production for the year up to 30 November 2019 of 32,127 barrels of oil per day ("bopd"). November gross production averaged 40,582 bopd, with current production rates from the field at c.42,000 bopd. GKP is therefore on track to meet its […]

GKP appoints new Chief Financial Officer

By John Lee. Gulf Keystone Petroleum (GKP) has announced the appointment of Ian Weatherdon as Chief Financial Officer ("CFO"). Mr Weatherdon has over 25 years' experience in the international oil and gas industry and joins GKP from Sino Gas & Energy Holdings Limited where he was CFO.  Sino Gas is an energy company focused on […]

GKP Shares Gain following Update

Shares in Gulf Keystone Petroleum (GKP) closed Friday up 3.5 percent after the company issued the following operational and corporate update ahead of its AGM: Operational Workovers on SH-1 and SH-3 have now been completed, resulting in the anticipated material production uplift at both wells.  Production from SH-1 has increased by 105% to 7,800 bopd […]

GKP Declares Dividend; Shares Rise

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading up more than three percent on Thursday morning after the company proposed issuing $50-million in dividends this year. The company, which produces oil at the Shaikan field (pictured) in Iraqi Kurdistan, issued the following statement as part of its 2018 Full Year Results: Financial […]

GKP to Increase Production; Shares Rise

Shares in Gulf Keystone Petroleum (GKP) closed 4.3 percent higher on Wednesday after the company provided an operational and corporate update. Operational Production operations, underpinned by strong performance of the Shaikan Jurassic reservoir, continue in line with expectations. Average gross production of 31,563 barrels of oil per day ("bopd") was achieved in 2018, at the […]