Image source: © 2025 Krish Capital Pty.Ltd

Highlights

  • GKP reported FY24 revenue of USD 151.2 million, up 22.4% YoY, supported by an 86% increase in production.
  • GKP declared and paid an interim dividend of USD 11.52 cents per share on 23 April 2025.
  • GKP reaffirmed 2025 production guidance of 40,000–45,000 bopd and maintained disciplined capex and opex targets.

Gulf Keystone Petroleum Limited (LSE: GKP) is an FTSE-listed oil and gas exploration and production company operating in the Kurdistan Region of Iraq and the United Kingdom through its regional segments.

In the financial year 2024 (FY24), GKP recorded a 22.4% YoY increase in revenue to USD 151.20 million, driven by an 86% rise in production to 40,689 bopd, which offset a 34% decline in realised oil prices. Adjusted EBITDA rose by 51.9% YoY to USD 76.10 million, compared to USD 50.10 million in FY23. Profit after tax reached USD 7.20 million, compared to a loss of USD 11.50 million in FY23, supported by higher gross profit and a USD 8.2 million credit from the reversal of expected credit loss provisions.

Business Update

GKP announced an interim dividend of USD 11.52 cents per share, which was paid to shareholders on 23 April 2025.

Company Outlook

GKP reaffirmed its 2025 gross average production guidance of 40,000–45,000 bopd, with the PF-2 facility shutdown now rescheduled to Q2FY26 for operational flexibility. Capital expenditure is expected to remain around USD 20 million for PF-2 maintenance and USD 5–10 million for production optimisation, while operating costs are forecast at USD 50–55 million and G&A expenses under USD 10 million, reflecting a continued focus on cost control and reliability.

Top 10 Shareholder

The top 10 shareholders collectively hold approximately 52.52% of the company’s total shares, with Lansdowne Partners Austria GMBH and Stichting Value Partners owning the largest individual stakes at around 15.00% and 11.51%, respectively.

Stock Information

The stock has risen approximately 7.51% over the past three months and around 7.44% over the last six months. As of 29 July 2025, the stock price was GBX 166.00, trading above the average of the 52-week low of GBX 209.80 and the 52-week high of GBX 110.44.

Data source: LSE, Analysis: Kalkine Group
GKP Daily Technical Chart; Data source: EODHD/Others, Analysis by Kalkine Group

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 29 July 2025. The reference data in this report has been partly sourced from EODHD/Others.

 Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.