Tag Archives | Sheikh Adi

GKP Shaikan Reserves Increase

Gulf Keystone Petroleum (GKP) announced on Thursday the release of an updated independent third-party audit of the Company's Reserves, Contingent Resources and Prospective Resources for its oil & gas interests in the Kurdistan Region of Iraq, including the Shaikan and Sheikh Adi fields operated by Gulf Keystone. Today's updated Competent Person's Report ("CPR") was again […]

UK Consul Visits GKP’s Shaikan Facility

UK Consul General Angus McKee visited Gulf Keystone's production facility at the Shaikan oil field on Wednesday, where he was given a tour by company officials. He viewed the production processes, control room and loading of tankers for onward transportation. Following the visit, McKee said: "Kurdistan Region's oil industry is a real success story, and […]

Gulf Keystone to Raise $250m Debt

Gulf Keystone has announced that it has mandated Deutsche Bank and Pareto Securities to arrange a series of fixed income investor meetings in the US, Europe and Asia commencing 20 March 2014. A debt offering of up to US$250 million in accordance with Reg S/144A is expected to follow, subject to market conditions. On 13 […]

Gulf Keystone Update

Gulf Keystone Petroleum (GKP) has this morning provided an Operational and Corporate update, and released a third party audit of the Company's reserves, contingent resources and prospective resources for its petroleum interests in the Kurdistan Region of Iraq. Summary The Company continues to maintain current stable production and sales levels of approximately 10,000 barrels of […]

GKP Shares Up Following Update

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up 4 percent this morning after the company provided an operational and corporate update: Significant progress has been made since the Field Development Plan ("FDP") for the Shaikan field was approved in June 2013. In July 2013 the Company commenced commercial production, marking Gulf Keystone's […]

GKP set for Growth

Gulf Keystone has provided an update on its four blocks in the Kurdistan Region of Iraq, including the world class discoveries at Shaikan and Sheikh Adi, as well as Akri-Bijeel and Ber Bahr: Background With the Shaikan commercial discovery alone, Gulf Keystone has one of the world's largest onshore conventional oil & gas developments with […]

Gulf Keystone Spuds Sheikh Adi-2 Well

Gulf Keystone (GKP) announced on Friday that the Sheikh Adi-2 exploration well spudded on the Sheikh Adi block in the Kurdistan Region of Iraq. The Sheikh Adi block is located immediately to the west of the Company's Shaikan block, which is a major discovery. Sheikh Adi-2, the second exploration well on the block, is being […]

Gulf Keystone Updates on Sheikh Adi Block

Gulf Keystone announced today results of an independent preliminary evaluation of the Sheikh Adi resources by Dynamic Global Advisors (DGA), independent Houston-based exploration consultants. The DGA report, based on Sheikh Adi-1 wireline logging data, core samples, 2D and 3D seismic and regional data, has indicated a significant range of between 1 billion barrels and 3 […]

Gulf Keystone Announces Annual Results

Gulf Keystone Petroleum (AIM: GKP), the oil and gas exploration and production company operating in the Kurdistan Region of Iraq, has announced its results for the year ended 31 December 2010. HIGHLIGHTS Financial Summary ·      Loss after tax $26.0 million (2009: $96.3 million) ·      Loss per share 4.17 cents (2009: 22.80 cents) ·      Cash, cash equivalents […]

Gulf Keystone Shares Rally on Kurdistan Update

Shares in Gulf Keystone Petroleum (LSE: GKP) jumped 6.5% on Monday morning following an update on theie current exploration and testing activities in the Kurdistan region of Iraq: Shaikan-3 The well is currently in the Cretaceous Garagu Formation at 1,229 metres, measured depth.  Oil shows have been observed both while drilling and also in a […]

Gulf Keystone Raises $175m in Surprise Placing

Gulf Keystone Petroleum (LSE: GKP), the Aim-quoted oil explorer, has raised £109m ($175m, 210 billion Iraqi dinars) to accelerate its Iraq-based drilling programme in a surprise share placement. The Financial Times reported on Saturday tha the placement was run by Mirabaud Securities and priced at 140p a share; Gulf Keystone’s shares closed at 143½p on […]

Gulf Keystone Update on Kurdistan Operations

Gulf Keystone Petroleum provided an update on its operations in the Kurdistan Region of Iraq this morning. The shares are down 3% in early trading, but have more than doubled in the past three months, partly on rumours of a take-over. Shaikan Long Term Test Facilities The recently constructed production test facilities near the location […]