Gulf Keystone Pet Ord New (GUKYF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Gulf Keystone's 2025 half-year results. I'm John Harris, CEO, and I'm joined by our CFO, Gabrielle Papanola-Green. Over the next few slides, we'll run through our operational and financial performance in the first half of 2025 and the outlook for the remainder of the year. Following that, we will open up the line for questions. Next slide, please. This is our regular legal disclaimer, and I'll leave you to review at your leisure. I'd like to remind those listening that the presentation slides are available on our website. Next slide, please. We delivered a strong operational financial performance in the first half of 2025. Consistent demand from local sales market in Kurdistan and good reservoir performance enabled an increase in production relative to the same period last year. Capital and cost discipline continued to underpin free cash flow generation. funding the payment of a $25 million interim dividend in April. We remain focused on safe operations, extending our track record of zero lost time incidents to over 950 days. We are pleased to have recently ramped up production back towards full well capacity following the temporary shut-in of the field in July after the drone attacks on neighbouring oil fields. With the return to stable sales and our robust cash balance, we are pleased to declare another $25 million interim dividend to be paid on September the 30th, increasing dividends paid and declared in the year to date to $50 million. We have also taken the investment decision of installing water handling facilities at our production facility too, which is an important milestone for the company. As we focus on maximising shareholder value from local sales, we also continue to engage with government stakeholders regarding the restart ...