Operational & Corporate Update

Summary by AI BETAClose X

Gulf Keystone Petroleum announced that production and export operations are ongoing at full well capacity of approximately 45,000 barrels of oil per day, with a maiden top-up cargo lifted following allocation of additional barrels by SOMO. The company is preparing for a return to drilling and field development in 2027, though the water handling project at PF-2 is now expected to start up in Q2 2027 due to supply chain constraints. As of October 19, 2026, Gulf Keystone has a debt-free balance sheet with $48.2 million in cash. In a significant corporate development, Gulf Keystone and ShaMaran Petroleum have agreed to merge, aiming to create a leading independent oil producer focused on the Kurdistan Region of Iraq and Federal Iraq.

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