Last $0.79 USD
Change Today -0.0501 / -5.96%
Volume 188.1K
GUKYF On Other Exchanges
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As of 8:10 PM 01/23/15 All times are local (Market data is delayed by at least 15 minutes).

gulf keystone petroleum ltd (GUKYF) Key Developments

Gulf Keystone Petroleum Appoints Sami Zouari as Chief Financial Officer

Gulf Keystone Petroleum announced the appointment of Sami Zouari to the Board of the company as Chief Financial Officer as of 22 January 2015. Mr. Zouari joins the company following careers in both the oil & gas industry and investment banking, where he also had a particular focus on the Energy and Commodities sectors in the Middle East and North Africa. Mr. Zouari has most recently served as the Regional Head of Corporate & Investment Banking for North Africa, Iraq and Oman at BNP Paribas.

Gulf Keystone Petroleum Limited Provides an Update on Operations at the Shaikan Block

MOL plc announced that its partner Gulf Keystone Petroleum Limited (GKP) provided an update on operations at the Shaikan block. In-line with that MOL Group hereby announced that the existing Shaikan production facilities 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 40,000 gross barrels of oil per day target on 27 December. On 29 December, a record number of 354 trucks were loaded at PF-1 and PF-2 with nearly 58,000 gross barrels of Shaikan crude sent by truck to the Turkish coast for further export sale. On 24 December, the GKP spudded Shaikan-11, an additional producer, which will be tied to PF-2 through the 11 km flowline, already in place.

Gulf Keystone Appoints Maria Darby-Walker as a Non-Executive Director

Gulf Keystone announced the appointment of Maria Darby-Walker to the Board of the company as a Non-Executive Director with immediate effect. Ms Darby-Walker is a leading corporate and financial communications' executive, who has counselled the boards of international firms including Rio Tinto and its Oyu Tolgoi copper project in Mongolia, the UK's Financial Conduct Authority, Cadbury, Rolls-Royce, Allen & Overy and Barclays.

Gulf Keystone Petroleum Limited Provides an Update on the Company's Operations at Shaikan

Gulf Keystone Petroleum Limited provided an update on the company's operations at Shaikan, its key producing asset. The company announced the completion of the installation of the flowlines to connect the Shaikan-7, -8, and -10 wells to the existing production facilities. The Shaikan-7 and -8 wells are now tied to PF-1 and Shaikan-10 to PF-2. The flowlines are currently being hydro-tested and first oil is expected to flow to the production facilities in December. With the addition of the three new producers, the current total production levels of between 23,000 and 25,000 gross bopd will increase to 40,000 gross bopd. An amine plant is currently being tested at PF-2, to be followed by the similar plant at PF-1 in early 2015. The amine plants will sweeten the associated gas stream, allowing it to be used as fuel for the production facilities instead of diesel, representing savings of up to $400,000 per month to the project. A rig package is moving to a location in the vicinity of Shaikan-10 in order to drill Shaikan-11, an additional producer. An 11 km flowline to tie this well to PF-2 has already been laid. Shaikan crude oil exports by truck to the Turkish coast continue uninterrupted.

Gulf Keystone Petroleum Limited - Shareholder/Analyst Call

Gulf Keystone Petroleum Limited - Shareholder/Analyst Call

 

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Valuation GUKYF Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 25.5x
Price/Book 1.2x
Price/Cash Flow NM Not Meaningful
TEV/Sales 25.9x
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