Gulf Keystone Petroleum Ltd. Successful completion of SH-12 workover (0913G)
23 Noviembre 2020 - 1:00AM
UK Regulatory
TIDMGKP
RNS Number : 0913G
Gulf Keystone Petroleum Ltd.
23 November 2020
23 November 2020
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone", "GKP" or "the Company")
Successful completion of SH-12 workover
Current flowrate of over 5,000 bopd
Gulf Keystone Petroleum, a leading independent operator and
producer in the Kurdistan Region of Iraq, announces that the
planned workover on the SH-12 well has been completed safely.
Jón Ferrier, Gulf Keystone's Chief Executive Officer, said:
"We continue to successfully manage the challenging macro
backdrop and make operational progress. I am pleased to report the
successful planned workover of the SH-12 well, which is currently
producing at over 5,000 bopd, driving an approximately 15% increase
in production from the field.
As announced in our half-year results, the SH-12 workover was
one of a series of opportunities identified which in aggregate were
expected to increase gross production by c.5,000 bopd. With the
very successful SH-12 workover result and work to bring SH-9 online
and the debottlenecking of PF-1 proceeding as planned, we now
expect to exceed our original incremental production
expectation.
We are also pleased to confirm that we expect average production
from the Shaikan Field this year to be at the top end of our
guidance range for 2020. I look forward to updating all our
stakeholders in December 2020 on the wider progress we have made as
a business."
Initial production from SH-12 was from the Lower Jurassic Butmah
reservoir providing valuable information for future development
planning. The workover involved moving up hole, perforating and
producing from the main SAM reservoir.
SH-12 returned to production on 15 November 2020 and the well is
currently flowing at a stable rate of over 5,000 bopd. The
additional production flows to the PF-2 production facility, where
there is spare production capacity. The workover design allowed the
original Electronic Submersible Pump ("ESP") completion to remain
in place during the operation and the ESP is now back-in service.
The operation came in ahead of schedule and on budget.
The Company is pleased to confirm that average 2020 gross
production is expected to be at the upper end of the previously
disclosed guidance range of 35,000 - 36,000 bopd, with the field
currently producing at c.39,000 bopd.
The Company intends to publish an Operational & Corporate
Update in December 2020.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Celicourt Communications: + 44(0) 20 8434 2754
Mark Antelme
Jimmy Lea
or visit: www.gulfkeystone.com
Notes to Editors:
Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent
operator and producer in the Kurdistan Region of Iraq. Further
information on Gulf Keystone is available on its website
www.gulfkeystone.com
Disclaimer
This announcement contains certain forward-looking statements
that are subject to the risks and uncertainties associated with the
oil & gas exploration and production business. These statements
are made by the Company and its Directors in good faith based on
the information available to them up to the time of their approval
of this announcement but such statements should be treated with
caution due to inherent risks and uncertainties, including both
economic and business factors and/or factors beyond the Company's
control or within the Company's control where, for example, the
Company decides on a change of plan or strategy. This announcement
has been prepared solely to provide additional information to
shareholders to assess the Group's strategies and the potential for
those strategies to succeed. This announcement should not be relied
on by any other party or for any other purpose.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
STREAPFAAESEFFA
(END) Dow Jones Newswires
November 23, 2020 02:00 ET (07:00 GMT)
Gulf Keystone Petroleum (LSE:GKP)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Gulf Keystone Petroleum (LSE:GKP)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024