Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Oil operator and producer Gulf Keystone reported production within the upper end of guidance, though said even lower-than-expected output from two wells brought on stream in December weighed year to date production.
Gross average production for 2021 of 43,440 barrels of oil per day (bopd) was at the upper end of guidance range.
The lower productivity of recently completed wells, SH-13 and SH-14, and temporarily curtailed production from SH-12, had resulted in a delay in gross production increasing to 55,000 bopd.
Gross average production in 2022 year to date was about 46,800 bopd.
The company declared an additional interim dividend of $50 million, bringing distributions over the past eight months to $150 million.
Looking ahead, the companys said that well SH-15 was expected to start-up in Q2 2022, with total gross average production for 2022 expected in a range of 44,000 to 50,000 bopd.