Gulf Keystone Petroleum Ltd.(GUKYF)- OTCQX
  • Fri, Jul. 29, 12:27 PM
    • Kurdistan-focused oil explorer DNO (OTCPK:DTNOF) offers to pay $300M to acquire regional peer Gulf Keystone Petroleum (OTCQX:GUKYF), which just completed a debt restructuring deal with bondholders.
    • DNO’s cash and share offer represents a 20% premium to the price at which Gulf Keystone proposed issuing shares to bondholders on July 14; the cash element of the proposal totals $120M.
    • DNO owns a 55% stake in Kurdistan's Tawke field, which produced an average of ~117.7K bbl/day of oil in May, while Gulf Keystone has a 75% interest in the Shaikan field, which has a production capacity of 40K bbl/day of oil.
    | Fri, Jul. 29, 12:27 PM | 2 Comments
  • Aug. 15, 2013, 3:59 PM
    • 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.
    | Aug. 15, 2013, 3:59 PM | 1 Comment
  • Dec. 18, 2011, 6:33 PM

    Exxon (XOM) has reportedly approached Gulf Keystone Petroleum (GUKYF.PK) about a purchase that could value the company at about £7B, nearly 5X its current market cap, according the The Independent. Gulf is sitting on a huge crude discovery in Kurdistan, but the government is thought to want an oil giant involved to develop the field. Other majors - including Chevron (CVX) and Sinopec (SNP) - may have interest as well.

    | Dec. 18, 2011, 6:33 PM | 10 Comments
Company Description
Gulf Keystone Petroleum Limited is an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq. The Company is registered in Bermuda with further offices in Erbil, Kurdistan Region of Iraq, Algiers, Algeria and London, UK. The Company was... More
Industry: Electric Utilities
Country: Bermuda