Gulf Keystone Petroleum Ltd Com Shs (DI) (GKP)

Sector:

Energy Producers

129.30p
   
  • Change Today:
      0.60p
  • 52 Week High: 151.20p
  • 52 Week Low: 91.85p
  • Currency: UK Pounds
  • Shares Issued: 217.01m
  • Volume: 1,056,659
  • Market Cap: £280.59m
  • RiskGrade: 213

Gulf Keystone annual production target intact

By Sean Farrell

Date: Friday 21 Jun 2019

LONDON (ShareCast) - (Sharecast News) - Gulf Keystone Petroleum left its annual production target intact as the oil and gas producer said daily activity would be towards the bottom of guidance.
In a trading update before the company's annual meeting, it said the forecast for full-year production was unchanged. But it said that due to changes in its drilling schedule, average gross production in 2019 was expected to be at the lower end of its guidance for 32,000-38,000 barrels of oil per day (bopd).

Gulf Keystone said average gross production so far in 2019 was 29,993 bopd. Production was higher at 38,100 bopd before the planned shutdown of the PF-1 well at its Shaikan field in the Kurdistan region of Iraq. PF-1 is expected to be offline for 15-20 days and an export pipeline is expected to be running by the third quarter of 2019.

As a result, the company said it expected to achieve its 55,000 bopd production target in the second quarter of 2020 and not in the first quarter as it previously guided.

Workovers on the SH-1 and SH-3 facilities have been completed and production has increased as expected, the company said. At SH-1 production more than doubled to 7,800 bopd and at SH-3 production increased 40% to 6,200 bopd. Sedimentary material has been removed to allow drilling at the SH-12 well.

Jón Ferrier, Gulf Keystone's chief executive, said: "Operational activity has intensified and good progress is being made across all fronts of our Shaikan expansion programme ... We are pleased to have started the drilling campaign, in addition to seeing promising results with the workovers drilled at SH-1 and SH-3. We look forward to bringing our new export pipeline into service later in the year eliminating the need for trucking and reducing HSSE (health, safety, security and environment) exposure."

Gulf Keystone shares rose 2% to 2.34p at 09:39 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

GKP Market Data

Currency UK Pounds
Share Price 129.30p
Change Today 0.60p
% Change 0.47 %
52 Week High 151.20p
52 Week Low 91.85p
Volume 1,056,659
Shares Issued 217.01m
Market Cap £280.59m
RiskGrade 213

GKP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.20% above the market average51.20% above the market average51.20% above the market average51.20% above the market average51.20% above the market average
13.89% above the sector average13.89% above the sector average13.89% above the sector average13.89% above the sector average13.89% above the sector average
Price Trend
9.41% above the market average9.41% above the market average9.41% above the market average9.41% above the market average9.41% above the market average
56.41% above the sector average56.41% above the sector average56.41% above the sector average56.41% above the sector average56.41% above the sector average
Income
5.22% above the market average5.22% above the market average5.22% above the market average5.22% above the market average5.22% above the market average
62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average
Growth
11.8% below the market average11.8% below the market average11.8% below the market average11.8% below the market average11.8% below the market average
75.51% below the sector average75.51% below the sector average75.51% below the sector average75.51% below the sector average75.51% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 5
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

GKP Dividends

  Latest Previous
  2nd Interim Interim
Ex-Div 17-Oct-24 04-Jul-24
Paid 31-Oct-24 19-Jul-24
Amount 9.22¢ 6.83¢

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 81,690 @ 129.30p
16:35 136 @ 129.30p
16:35 476 @ 129.30p
16:35 465 @ 129.30p
16:35 176 @ 129.30p

GKP Key Personnel

CFO Ian Weatherdon
CEO Jon Harris

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