Brief: Gulf Keystone Petroleum Says Exploring Opportunities To Sell Shaikan Field Crude To Local Buyers

Gulf Keystone Petroleum

16/06/2023 07:12

June 16 (Reuters) - Gulf Keystone Petroleum Ltd  GKP.L :
    * CONTINUE TO BELIEVE SUSPENSION OF EXPORTS WILL BE
TEMPORARY AND
THAT KRG WILL RESUME MORE NORMALISED PAYMENTS
    * PRODUCTION FROM SHAIKAN FIELD REMAINS SHUT-IN
    * CURRENTLY EXPLORING OPPORTUNITIES TO SELL SHAIKAN FIELD
CRUDE TO
LOCAL BUYERS
    * CONTINUES TO BELIEVE THAT SUSPENSION OF EXPORTS WILL BE
TEMPORARY AND THAT KRG WILL RESUME MORE NORMALISED PAYMENTS
    * LOWERING NET CAPITAL EXPENDITURES, OPERATING COSTS AND G&A
TO A
MONTHLY RUN RATE OF AROUND $6 MILLION NET FROM JULY 2023
    * 2023 NET CAPEX CURRENTLY ESTIMATED AT $70-$75 MILLION
    * CONTINUING TO REVIEW ADDITIONAL LIQUIDITY OPTIONS,
INCLUDING
LOCAL CRUDE AND INVENTORY SALES AND FURTHER COST REDUCTIONS

Source text for Eikon:  ID:nEQ9SyLxda 
Further company coverage:  GKP.L 

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