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Gulf Keystone Petroleum Limited's (GUKYF) CEO Jon Harris on Q4 2021 Results - Earnings Call Transcript

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Gulf Keystone Petroleum Limited (OTCPK:GUKYF) Q4 2021 Earnings Conference Call March 30, 2022 5:00 AM ET

Company Participants

Jon Harris - Chief Executive Officer

Ian Weatherdon - Chief Financial Officer

Conference Call Participants

Werner Riding - Peel Hunt

Charlie Sharp - Canaccord Genuity

Teodor Sveen-Nilsen - SpareBank 1

David Round - Stifel

Nikolas Stefanou - Renaissance Capital

Jon Harris

Hello, and thank you for joining Gulf Keystone’s 2021 Full Year Results Presentation. I’m joined today by Ian Weatherdon, Chief Financial Officer, who will be taking you through our financial performance. I’m also joined by Gabriel Papineau-Legris., Chief Commercial Officer; and Aaron Clark, Head of Investor Relations. We will run through the presentation slides before opening the line up for questions.

Next slide. Before I start, I’d like to remind you that the presentation slides are available to view on our website. And also Slide 2 is our legal disclaimer, which I will leave you to review in your own time.

Next slide, please. We are pleased to report a strong operational and financial performance underpinned by continuous focus on safety and sustainability. Our leverage to the recovery in oil prices, combined with a 19% increase in gross production towards the upper end of our guidance range and continued cost and capital discipline, has enabled us to generate record adjusted EBITDA and significant free cash flow.

We were disappointed to record a lost time incident in October after working for almost two years without an incident. We are committed to continuous learning, and we have now been operating for over 160 days without a further LTI. We also made good progress in the year on enhancing our ESG performance as our Board approved our sustainability strategy and roadmap.

Our mantra at Gulf Keystone is balancing invest – balancing investment in sustainable growth and – with

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