Gulf Keystone Petroleum Ltd Com Shs

GKP · Main Market · Energy · mcap £422m · 197.6p

Gulf Keystone operates the Shaikan Field in Kurdistan, Iraq, and sells the crude it produces. Its revenue depends on oil prices, on export routes through the Iraq-Turkey pipeline and on payments from the Kurdistan government.

Target	Promise	Said	Status
2025
2025	2025 gross average production of 40,000-45,000 bopd, later narrowed to 40,000-42,000 bopd	23 Jan 2025	✗ Missed · target changed
	“2025 gross average production expected to be between 40,000 – 42,000 bopd” Also stated 20 Mar 2025 · 28 Aug 2025 Result Guidance was narrowed to 40,000-42,000 bopd in August 2025 after disruptions. Actual output was 41,560 bopd, inside the new range. “we have tightened 2025 gross average production guidance to 40,000 - 42,000 bopd primarily reflecting the production losses from recent temporary disruptions”28 Aug 2025 · 2025 Half Year Results Announcement “Gross average production of c.40,600 bopd in 2025 year to date (as at 26 August 2025)”28 Aug 2025 · 2025 Half Year Results Announcement
2025	2025 net capex of $25-30m	20 Mar 2025	✗ Missed
	“Net capital expenditure of $25-$30 million” Result Net capex for 2025 was $34m, above the range. 22 Jan 2026 · Operational & Corporate Update
Today · 11 Oct 2026
2026
2026	2026 gross average production of 37,000-41,000 bopd	22 Jan 2026	✗ Missed
	“Pipeline exports resumed in September 2025, with regular payments continuing into 2026” Result H1 2026 averaged only 14,600 bopd after security shut-ins, making the range very unlikely. “Gross average production of 14,600 bopd in H1 2026 (H1 2025: 44,100 bopd) reflects impact of precautionary shut-in between 28 February and 23 June 2026 due to regional security issues”25 Aug 2026 · 2026 Half Year Results Announcement “Gross production prior to the shut-in had averaged 41,303 bopd from the beginning of 2026, with volumes exceeding 44,000 bopd on several days towards the end of February 2026”25 Aug 2026 · 2026 Half Year Results Announcement
2027
2027	Restart drilling and field development, now potentially in 2027	22 Jan 2026	✗ Missed · target changed
	“preparing for a potential return to field development and drilling in 2027, subject to receiving full PSC entitlement for its export sales” Also stated 25 Aug 2026 Result The 2026 restart was pushed to a potential 2027 return, conditional on full PSC entitlement.