Street Smart Investor
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.
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