Gulf Keystone Petroleum to pay out $10m to shareholders after production restart at Shaikan

Energy Written by: Jamie Ashcroft 08:24 Tue 25 Aug 2026 --> Proactive has a commercial relationship with Gulf Keystone Petroleum Limited. This article was produced independently under Proactive's Editorial Standards Policy . Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Jamie Ashcroft Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a first-class degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 2009, Jamie contributed... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Gulf Keystone Petroleum Limited ( LSE:GKP ) View Price & Profile Gulf Keystone Petroleum to pay out $10m to shareholders after production restart at Shaikan Published: 08:24 25 Aug 2026 BST Gulf Keystone Petroleum Limited (LSE:GKP) declared a $10 million interim dividend after restarting production and exports from its Shaikan Field in Kurdistan, with output now approaching 40,000 barrels of oil per day following two security-related shutdowns this year. Gross average production fell 67% to 14,600 bopd in the first half from 44,100 bopd a year earlier, after Shaikan was shut from late February until 23 June. Despite the disruption, adjusted EBITDA increased 26% to $51.7 million, as higher realised export prices and lower operating costs outweighed the production decline. Invoiced revenue was broadly unchanged at $82.8 million. The average realised price climbed to $83.5 a barrel, representing an $8.8 discount to Dated Brent, compared with $27.8 a barrel in the prior-year period. GKP is currently receiving around $30 per barrel in cash under interim export arrangements, with the difference accruing as a receivable. Its export-related top-up receivable reached $79.6 million at the end of June. Chief executive Jon Harris said the extended export agreements had delivered “improved remuneration relative to local sales and consistent payments without delay following crude liftings”. The company had $63.5 million of cash and no debt as of 24 August. The $10 million dividend, worth $0.046 per share, is due to be paid on 28 September. GKP is also progressing its PF-2 water handling project for start-up in the first quarter of 2027, targeting an additional 4,000–8,000 bopd of gross production from existing constrained wells. Continue reading