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Gulf Keystone boosted production and cash flow in 2025, but a March shutdown due to regional unrest cut output and led to suspended 2026 guidance.
Gulf Keystone Petroleum reported strong 2025 results with production averaging 41,560 barrels per day, near the top of its guidance, and achieved positive free cash flow after resuming crude exports via the Iraq-Turkey pipeline in September 2025.
Export sales delivered a $30 per barrel advantage over local sales, with an implied Brent discount of $13.4 per barrel.
Adjusted EBITDA rose 46% to $111.4 million.
Production surged above 44,000 bopd in early 2026 but dropped to about 32,100 bopd by March 17 after a shutdown due to regional security concerns following Middle East strikes, with estimated weekly losses of 840 barrels.
The company suspended 2026 guidance, remains debt-free, and is prepared to restart quickly.
Gulf Keystone impulsó la producción y el flujo de efectivo en 2025, pero un cierre en marzo debido a los disturbios regionales redujo la salida y llevó a suspender la guía de 2026.