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

%1m3m12m
Actual7.4(40.9)(81.9)
Relative *6.0(41.2)(83.7)

* % Relative to local index

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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
London
EC4A 1AZ
United Kingdom
44 (0)207 514 1400
View website