Gulf Keystone Pet Ord New (GUKYF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Gulf Keystone Petroleum's 2024 Half Year Results presentation. I will now hand over to Chief Executive Officer John Harris. Please go ahead. Thank you. Welcome to Gulf Keystone's 2024 Half Year Results. My name is John Harris and I'm the CEO. Today I'm joined by Gabrielle Papanoligri, our CFO, who will be taking you through our financial performance. And we're also joined by Gulf Keystone's COO, John Hulme, and also our Head of Investor Relations, Aaron Clark. Over the next few slides, we'll run through our operational and financial performance for the first half of 2024 and the outlook for the remainder of the year. Following that, we will open up the line for questions. And next slide. This is our regular legal disclaimer, and I'll leave for you to review at your leisure. And I'd like to remind you that the presentation slides are available on our website. Next slide, please. We delivered a solid operational and financial performance in the first half of 2024, facilitated by our continued focus on safe operations with no lost time incidents for over 590 days. Robust local sales volumes with gross average production of over 41,000 barrels of oil per day in 2024 to date, combined with sustained capital and cost discipline, enable us to return to profitability and free cash flow generation following a challenging year impacted by the suspension of Kurdistan exports. Cashflow has enabled us to both strengthen our balance sheet and restart shareholder distributions with $25 million returned to shareholders via dividends and buybacks year to date. Looking ahead, we are focused on maximizing shareholder value from the local sales market. We also continue to engage with government stakeholders regarding the ongoing shut-in of the Iraq-Turkey pip...