Will Gulf Keystone Petroleum Make a Comeback in 2016?

For years, Gulf Keystone Petroleum Limited enjoyed a reputation as one of the world’s leading oil and gas exploration and production companies. Based in the Kurdistan region of Iraq, the group was one of the top players listed on the main market of the London Stock Exchange. Until the price of petroleum crashed and with it, the prospects of Gulf Keystone Petroleum Limited continuing to enjoy long term success. It was notorious as one of the most disappointing investments of 2015, with stocks falling by 76%. To date, Gulf’s shares now trade at 6p, giving the company an overall value of £157 million.

New horizons for Gulf Keystone Petroleum

While the outlook has been dire, the tables have finally turned for the global oil and gas entity, with executives confirming the company has just received a gross payment of US$15 million. The cash will be channelled into Shaikan crude oil export sales, with the payment appearing on the company’s December invoice recently submitted to the Kurdistan Regional Government's Ministry of Natural Resources. With the payment now in the bank Gulf Keystone Petroleum Limited’s current cash position sits at a generous US$58.4 million.

Jón Ferrier, CEO, of Gulf Keystone Petroleum Limited comments, “We are pleased to start 2016 with confirmation of payment for December's Shaikan crude oil export sales. This is the fourth consecutive monthly payment, for which we would like to state our thanks to our partner the MNR.”

Whether or not the weighty cash injection can pull the company out of its rut is yet to be seen. While some experts assert that the outlook is positive, others maintain that Gulf Keystone Petroleum is in dire straits.

The expenses of oil and gas ventures

The oil and gas industry is incredibly complex, and goes hand in hand with a plethora of expenses. Chlorine determination is one factor that every oil and gas company encounters, including Gulf Keystone Petroleum Limited. ‘Fast and Reliable Chlorine Determination by Self-Adopting Systems’ looks at the process in further detail, exploring the formation of chlorine containing compounds during storage, transportation and further processing. As these compounds can go on to form harmful substances such as HCl and metal halides, it’s critical to control the chlorine content of feeds and process streams. For companies wanting to stay 100% on top of chlorine content, a new generation of intelligent self-adapting analysers has been hailed as a savvy solution.

Better news for UK

Closer to home, the UK oil and gas industry has enjoyed a positive start to the year, with the latest statistics showing that field production rose by 8.6% during the first 10 months of 2015. The spike is largely thanks to the opening up of North Sea fields. For moren information, read: British Oil and Gas Production Peaks for First Time in 15 Years.

Image via Flickr Creative Commons. Photo credits: duggar11