Gulf Keystone Petroleum Limited Announces Consolidated Financial and Production Results for the Year Ended December 31, 2014
Apr 9 15
Gulf Keystone Petroleum Limited announced consolidated financial and production results for the year ended December 31, 2014. For the year, revenue was $38,560,000 against $6,696,000 for the last year. Loss from operations was $226,438,000 against $21,097,000 for the last year. Loss before tax was $246,074,000 against $31,847,000 for the last year. Loss after tax for the year was $248,203,000 against $31,965,000 for the last year. Loss per diluted share was 28.51 cents against 3.69 cents for the last year. Net cash used in operating activities was $37,430,000 against $42,107,000 last year. Cash used in investing activities totaled $197.4 million (2013: $182.3 million), which comprises $86.8 million spent on intangible assets (2013: $131.8 million) and $110.6 million (2013: $59.0 million) spent on property, plant and equipment with no movement in liquid investments (2013: $8.6 million decrease). The spending on property, plant and equipment has increased following the transfer of the Shaikan assets from intangible assets to property, plant and equipment at June 30, 2013.
For the year, the gross production for the year totaled 6,484,391 barrels of oil (2013: 496,921 barrels of oil). Production averaged 18,000 barrels of oil per day, reaching 40,000 gross barrels of oil per day on 27 December 2014.
Gulf Keystone Petroleum Announces Executive Changes
Mar 31 15
Gulf Keystone Petroleum announced that Simon Murray, the company's Non-Executive Chairman is to retire from the Board of Directors of Gulf Keystone. Andrew Simon, Senior Independent Director, will assume the role of Interim Non-Executive Chairman with immediate effect.
Gulf Keystone Petroleum Limited Announces Extension of Early Consent Time and Expiration
Mar 30 15
Gulf Keystone Petroleum Limited announced that it has extended the Early Consent Time and Expiration Date for the consent solicitation in respect of the Notes announced on March 12, 2015 and amended the Expiration Time. The Early Consent Time has been extended to April 2, 2015, the Expiration Date has been extended to April 2, 2015.
Gulf Keystone Seeks Funding Alternatives
Mar 12 15
Gulf Keystone Petroleum Limited (LSE:GKP) is looking for funding alternatives, including an equity raise, and is in talks with potential buyers of the business or assets.
GKP In Talks For Sale Or Some Asset Transactions
Feb 25 15
Gulf Keystone Petroleum Limited (LSE:GKP) said it was in talks with a number of parties about a possible sale of GKP or some asset transactions. GKP said the discussions were preliminary and that it had appointed Deutsche Bank and Perella Weinberg Partners as financial advisers. Gulf Keystone has been reviewing options for its 20% stake in Akri-Bijeel since August.