Seeking Alpha

Gulf Keystone, eyeing Kurdistan success, could be takeover bait

  • Gulf Keystone (GUKYF.PK, GFKSY.PK), sitting on Iraqi's Kurdistan's giant Shaikan discovery that could produce 250K bbl/day by 2018, is seen as a takeover target as the world’s biggest oil companies look for untapped fields.
  • Gulf Keystone has spent $780M so far toward completion of a pipeline for direct exports to Turkey; analysts say offers could come soon because the new pipeline may boost the company's value by 40%, and a ruling is expected in a London lawsuit brought by a former associate claiming 30% of the pipeline.
  • Exxon Mobil (XOM), Chevron (CVX) or an Asian national oil company are considered candidates to snap up the company.
Comments (1)
  • User 12413981
    , contributor
    Comment (1) | Send Message
     
    Chevron are sitting on a pile of cash!!!
    16 Aug 2013, 01:55 AM Reply Like
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