Gulf Keystone Petroleum Ltd 2016 AR2
The report highlights Gulf Keystone Petroleum's performance and strategic developments for the fiscal year 2016. During the year, the company successfully completed a major balance sheet restructuring, reducing its gross debt from over $600 million to $100 million and raising $25 million through an Open Offer. Operationally, the Shaikan oil field performed strongly, achieving an average gross production of 34,794 barrels of oil per day, which was at the upper end of guidance. The company also transitioned to a cash flow positive position, supported by regular monthly payments from the Kurdistan Regional Government's Ministry of Natural Resources. Additionally, the company maintained a strong safety record with zero Lost Time Incidents in 2016.
Company: Gulf Keystone Petroleum Ltd
Sector: Mining & quarrying
Country: Bermuda
Year: 2016
Type: AR2
Pages: 59
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Gulf Keystone Petroleum Ltd
Annual Report And Accounts
The report highlights Gulf Keystone Petroleum's performance and strategic developments for the fiscal year 2016. During the year, the company successfully completed a major balance sheet restructuring, reducing its gross debt from over $600 million to $100 million and raising $25 million through an Open Offer. Operationally, the Shaikan oil field performed strongly, achieving an average gross production of 34,794 barrels of oil per day, which was at the upper end of guidance. The company also transitioned to a cash flow positive position, supported by regular monthly payments from the Kurdistan Regional Government's Ministry of Natural Resources. Additionally, the company maintained a strong safety record with zero Lost Time Incidents in 2016.
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Document Details
Report Year
2016
Reporting Period
Jan 1, 2016 - Dec 31, 2016
Fiscal Year
2016
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Workplace Fatalities
Employees