Gulf Keystone Petroleum Ltd:
* Fy revenue at $194.4 million versus $86.2 million year ago
* Fy loss after tax of $17.4 million versus $214 million year ago
* Fy operating costs per barrel on a gross field basis reduced to $3.5/bbl from $5/bbl in 2015
* Cash balance at 5 april 2017 of $112.7 million against $100 million of debt
* Operations in the Kurdistan region remained safe and secure throughout 2016
* 2016 gross production of 12.7 million barrels of oil, up 14 percent on 2015, an average of 34,794 bopd
* Shaikan production for Q1 2017 averaged 36,293 bopd
* Current daily production is at c.38,000 bopd
* Says gross production guidance for 2017 is set at 32,000-38,000 bopd
* Says without further investment in the field beyond maintenance capital, expect production levels to be at lower-end of 2017 guidance range
* Progressing in ongoing talks with mnr on commercial,contractual conditions,particularly around regular payments conforming to psc,crude marketing arrangements
* Funded for estimated capex of $58-68 million for the 40,000 bopd stabilisation case and a further $25-45 million for the increase to 55,000 bopd Source text for Eikon: Further company coverage: (Bengaluru Newsroom: 91 80 6749 1136)
Gulf Keystone Petroleum Ltd:
* Fy revenue at $194.4 million versus $86.2 million year ago
* Fy loss after tax of $17.4 million versus $214 million year ago
* Fy operating costs per barrel on a gross field basis reduced to $3.5/bbl from $5/bbl in 2015
* Cash balance at 5 april 2017 of $112.7 million against $100 million of debt
* Operations in the Kurdistan region remained safe and secure throughout 2016
* 2016 gross production of 12.7 million barrels of oil, up 14 percent on 2015, an average of 34,794 bopd
* Shaikan production for Q1 2017 averaged 36,293 bopd
* Current daily production is at c.38,000 bopd
* Says gross production guidance for 2017 is set at 32,000-38,000 bopd
* Says without further investment in the field beyond maintenance capital, expect production levels to be at lower-end of 2017 guidance range
* Progressing in ongoing talks with mnr on commercial,contractual conditions,particularly around regular payments conforming to psc,crude marketing arrangements
* Funded for estimated capex of $58-68 million for the 40,000 bopd stabilisation case and a further $25-45 million for the increase to 55,000 bopd Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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