Gulf Keystone Petroleum Limited · LSE:GKP
Gulf Keystone Petroleum — Pareto – E&P Independents Conference 2020
11 slides from Gulf Keystone Petroleum's conference presentation, Jan 22, 2020
Slide 1: Gulf Keystone Petroleum – Pareto E&P Independents Conference
Gulf Keystone Petroleum Pareto – E&P Independents Conference 22 January 2020
Slide 2: Disclaimer
Disclaimer This proprietary presentation (the “Presentation”) has been prepared by Gulf Keystone Petroleum Limited (the “Company”). Under no circumstances may this presentation be deemed to be an offer to sell, a solicitation to buy or a solicitation of an offer to buy securities of any kind in any
Slide 3: GKP at a glance... and in numbers
GKP at a glance… ...and in numbers bopd • Pure-play Kurdistan E&P with operatorship c.40,000 Current gross production – 80% WI in Shaikan Field MMstb Gross 579 • Vision to grow production to 110,000 bopd 2P Reserves(1) US$/bbl H1 2019 3.9 Opex per Barrel • 1st expansion phase to 55,000 bopd underway
Slide 4: Shaikan production at c.40,000 bopd
Shaikan production at c.40,000 bopd • 2019 average gross production of 32,883 bopd – meeting original guidance • Plan to increase average production by >30% in 2020 • Payments delays in Q4 2019, expecting return to regular payments Last 12 Months Shaikan Gross Production (‘000 bopd) SH-3 PF-2 planne
Slide 5: Shaikan field development plan
Shaikan field development plan • Staged approach to deliver long-term potential • Revised FDP submitted in May 2019 – discussions with MNR ongoing Subject to FDP approval 120 Phase 2: 110,000 bopd Shaikan Production Capacity (‘000 bopd) 100 Triassic expansion & Cretaceous pilot Not yet 80 85,000 bop
Slide 6: 55,000 bopd expansion programme on track for Q3 2020
55,000 bopd expansion programme on track for Q3 2020 Atrush pipeline SH-9 New well SH-4 SH-10 SH-11 SH-5 SH-L & SH-I PF-1 tie-in pipeline PF-1 SH-1 SH-3 SH-7 SH-12 SH-6 SH-2 SH-8 SH-G PF-2 PF-1 pipeline 2.5 km • SH-12, first well in the drilling campaign, currently producing c.4,000 bopd • SH-9 reac
Slide 7: High levels of activity
High levels of activity PF-2 additional pumps installed PF-1 debottlenecking Rig at SH-9 PF-1 export station & pipeline 7
Slide 8: Strong focus on ESG
Strong focus on ESG Environment Sustainability / Societal • Plan to eliminate routine flaring and emissions • Energy sector underpins the Kurdistan economy • Effective waste management programme in • Strong investment in localisation and development place with cradle-to-grave traceability of staff i
Slide 9: Share price evolution since we were last here
Share price evolution since we were last here… Share Price Performance Since 1 January 2019 3.0 Share Price (Rebased to GKP (£/share)) 2.5 +28% 2.0 +10% (7%) (9%) 1.5 Jan-19 Mar-19 May-19 Jul-19 Sep-19 Nov-19 Jan-20 GKP Kurdistan E&Ps Brent UK Listed E&Ps Note: Market data as at 16 January 2020. UK
Slide 10: Outlook
Outlook Growth ‒ 55,000 bopd gross production target on track for Q3 2020 ‒ 2020 average gross production of 43,000-48,000 bopd: >30% y-o-y growth Return significant value to shareholders ‒ Commitment to pay annual dividend of at least US$25 million per year ‒ Complete remaining US$15 million of buy
Slide 11: Thank you
Thank you More resources are available at: www.gulfkeystone.com
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