Gulf Keystone is an E&P company with an 80% operated stake in the giant Shaikan field in the Kurdistan Region of Iraq (KRI). Shaikan contains 591mmbbl of gross 2P and produced at 30mbbl/d gross in H1 2019. Gulf Keystone is undertaking a multi-phase programme to substantially increase gross production to 110mbbl/d in the mid-2020s, funded by field cash flows and existing cash. The company is also about to begin paying a dividend, and is planning a buyback programme. We initiate with a Buy and 380 ....
03 Jul 2019
Gulf Keystone Petroleum - Well funded, strong growth, initiating with buy and 70% upside
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Gulf Keystone Petroleum - Well funded, strong growth, initiating with buy and 70% upside
Gulf Keystone Petroleum Limited (GKP:LON) | 111 0 0.0% | Mkt Cap: 246.9m
- Published:
03 Jul 2019 -
Author:
Daniel Slater -
Pages:
49
Gulf Keystone is an E&P company with an 80% operated stake in the giant Shaikan field in the Kurdistan Region of Iraq (KRI). Shaikan contains 591mmbbl of gross 2P and produced at 30mbbl/d gross in H1 2019. Gulf Keystone is undertaking a multi-phase programme to substantially increase gross production to 110mbbl/d in the mid-2020s, funded by field cash flows and existing cash. The company is also about to begin paying a dividend, and is planning a buyback programme. We initiate with a Buy and 380 ....