Gulf Keystone Petroleum Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2015; Retains Production Guidance for the Second Half and Full Year 2015
Aug 27 15
Gulf Keystone Petroleum Limited reported unaudited consolidated earnings results for the six months ended June 30, 2015. For the period, the company reported revenue of $30,092,000 compared to $18,700,000 a year ago. Loss from operations was $54,058,000 against $21,306,000 a year ago. Loss before tax was $77,180,000 against $28,057,000 a year ago. Loss after tax was $77,693,000 or 8.50 cents per basic and diluted share against $29,774,000 or 3.42 cents per basic and diluted share a year ago. Net cash used in operating activities was $32,340,000 against net cash generated in operating activities of $11,212,000 a year ago. Purchase of property, plant and equipment was $25,480,000 against $57,322,000 a year ago. Purchase of intangible assets was $3,357,000 against $52,341,000 a year ago.
The company announced that with plant availability at the Shaikan production facilities (both PF-1 and PF-2) currently averaging 98.2%, the company remain on track to achieve the previously announced daily production average target of 30,000 bopd to 34,000 bopd for financial year 2015, and 36,000 bopd to 40,000 bopd for second half of 2015.
Gulf Keystone Explores Strategic Options
Aug 26 15
Gulf Keystone Petroleum Limited (LSE:GKP) is evaluation the various strategic alternatives. Nadhim Zahawi, Chief Strategy Officer of Gulf Keystone Petroleum will be responsible for the evaluation of strategic options for the Company.
Gulf Keystone Petroleum Limited Announces Nadhim Zahawi as Chief Strategy Officer
Aug 24 15
Gulf Keystone Petroleum Limited announced that Nadhim Zahawi has been appointed as Chief Strategy Officer. Mr. Zahawi is joining the company's management team and will be responsible for the evaluation of strategic options for the company, reporting to CEO Jón Ferrier. Mr. Zahawi, 48, is of Kurdish origin, and moved from Iraq to the UK in his childhood. He has maintained contact with the Kurdistan Region of Iraq throughout his extensive career. He has been a Conservative Member of Parliament for Stratford on Avon since 2010. Given Mr Zahawi's parliamentary commitments, he will work with the company on a part time basis. The Chief Strategy Officer position is not a Board appointment.
Gulf Keystone Petroleum In Talks For Sale
Aug 4 15
Gulf Keystone Petroleum Limited (LSE:GKP) is in talks with prospective buyers about a sale of the entire company or a partial sale of its assets, which include the giant Shaikan oil field in Kurdistan.
Gulf Keystone Petroleum Limited Announces Operational Results Update At Shaikan Field in the Kurdistan Region of Iraq
Jul 31 15
Gulf Keystone Petroleum Limited announced that all production and truck loading operations currently continue without interruption at both Shaikan production facilities (PF-1 and PF-2) in a safe and secure manner. On 29 July 2015, production totalled 43,700 barrels with 39,500 barrels (240 trucks) loaded by a domestic offtaker for onward sale. As announced on 9 July 2015, the company continues to implement its diversified marketing strategy. Under a direct contract with the domestic offtaker, Shaikan crude oil is delivered by truck from the Company's production facilities to the Turkish coast.