Gulf Keystone Petroleum (GKP)

Business description

Gulf Keystone Petroleum (GKP) is a Kurdistan-focused exploration and production company. It has interests in four blocks in Kurdistan, including the Shaikan field, which has more than 639mmbbls of 2P reserves.

Stock data

Market cap.£298.3m
Last close130.00p
High / Low (52 weeks)782.6p / 115.0p
Stock market listingLN
Forecast net debt (US$m)473.3
Forecast gearing ratio (%)169
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *6.0(41.2)(83.7)

* % Relative to local index

Other companies in sector Show

88 Energy Activa Resources
ADX Energy Afren
African Petroleum Corporation AJ Lucas Group
Aminex Andes Energia
Antares Energy Athabasca Resources
AusTex Oil AWE
Azonto Petroleum Bankers Petroleum
Bitesize Briefing BNK Petroleum
Bowleven Bridge Energy
Buru Energy Cairn Energy
Canacol Energy Canadian Overseas Petroleum
Canoel International Energy Cap Energy
Carbon Energy Carnarvon Petroleum
CBM Asia Development Central Petroleum
Challenger Energy Coastal Energy
Columbus Energy Resources Cooper Energy
Core Laboratories Cue Energy
Denbury Resources DEO Petroleum
Deutsche Rohstoff Dragon Oil
Drillsearch Energy Egdon Resources
Elk Petroleum Energy XXI
Exillon Energy Exoma Energy
Falkland Oil & Gas Faroe Petroleum
Fastnet Oil & Gas Forum Energy
Gasol Genel Energy
Genie Energy Great Eastern Energy Corporation
Green Dragon Gas Greka Drilling
Gulfsands Petroleum Hawkley Oil & Gas
High Peak Royalties Hurricane Energy
Hydrodec Group IPB Petroleum
Ithaca Energy JKX Oil & Gas
Karoon Gas Kea Petroleum
Kina Petroleum Kreuz Holdings
Lansdowne Oil & Gas Leed Petroleum
Leigh Creek Energy LGO Energy
Lion Energy Liquefied Natural Gas Ltd
Lochard Energy Madagascar Oil
Madalena Energy MEC Resources
Mediterranean Oil & Gas MEO Australia
Mosman Oil and Gas Nautical Petroleum
New Standard Energy New Zealand Oil & Gas
Nido Petroleum Nighthawk Energy
North Sea Energy Northern Petroleum
Norwest Energy Otto Energy
Pacific Rubiales Parex Resources
Petrel Energy Petroceltic
Petromanas Energy Petrominerales
Po Valley Energy Premier Oil
President Energy Pura Vida Energy
Quadrise Fuels International Ramba Energy
Range Resources Real Energy
Real Energy Corporation Regal Petroleum
Rockhopper Exploration SacOil Holdings
Salamander Energy SDX Energy
Sefton Resources Senex Energy
Sequa Petroleum ShaMaran Petroleum
Simba Energy SOCO International
Solo Oil Sound Oil
Sterling Energy Stratic Energy
Tethys Petroleum Touchstone Exploration
Tower Resources TransAtlantic Petroleum
TransGlobe Energy Valiant Petroleum
Victoria Oil & Gas Wentworth Resources
WestSide Corporation Xcite Energy

Company news

Gulf Keystone to see £1 a share before Christmas … due to share consolidation

Wed, 16 Nov 2016 07:59:19 GMT

Is it finally time to buy Gulf Keystone Petroleum Limited?

Sat, 25 Mar 2017 07:52:30 GMT

Gulf Keystone 'reborn' as 22bn new shares hit London Stock Exchange

Fri, 14 Oct 2016 07:41:10 GMT

Gulf Keystone: Cantor Fitzgerald repeats 'buy' recommendation amid export changes

Thu, 23 Feb 2017 11:11:42 GMT

Norway's DNO offers $300m for Gulf Keystone Petroleum

Fri, 29 Jul 2016 11:03:59 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2013A 6.7 (21.1) (30.7) (3.7) N/A N/A
2014A 38.6 (43.9) (102.0) (11.9) N/A N/A
2015E 72.6 14.1 (103.5) (10.9) N/A 52.2
2016E 171.6 75.4 (57.1) (5.8) N/A 21.9

Last updated on 23/05/2017

Latest research

Two payments in two months

Flash note | Oil & Gas | 15/10/2015

Updated CPR sees 2P reserves more than double

Update | Oil & Gas | 07/10/2015

Payments anticipated in September

Update | Oil & Gas | 03/09/2015

Payments situation improving

Update | Oil & Gas | 09/07/2015

Equity issuance strengthens financial position

Update | Oil & Gas | 11/05/2015

Daily comment

Institutional Comment | Oil & Gas | 09/04/2015

Daily comment

Institutional Comment | Oil & Gas | 25/02/2015

Daily comment

Institutional Comment | Oil & Gas | 06/02/2015

Daily comment

Institutional Comment | Oil & Gas | 22/01/2015

Daily comment

Institutional Comment | Oil & Gas | 05/01/2015

Daily comment

Institutional Comment | Oil & Gas | 16/12/2014

Daily comment

Update | Oil & Gas | 02/12/2014

Investment summary

Gulf Keystone's (GKP) operations continue strongly with production over 40mb/d. The current share price reflects uncertainty over the receipt of revenues, but we believe the KRG fully appreciates the importance of Shaikan to the region and that a reliable payment cycle will come in time, evidenced by payments made in the last few months. Investors should be aware of the April 2017 timeline for repayment/refinancing of the high yield and convertible notes. We will review our valuation given our recent revisions (reduction) to oil prices given the current environment.

Last updated on 03/08/2017

Key management

Andrew Simon, Chairman
Jón Ferrier, CEO

Company address

6th Floor
New Fetter Place
8-10 New Fetter Lane
United Kingdom
44 (0)207 514 1400
View website