|Bid||90.00 x 2065000|
|Ask||93.50 x 7667300|
|Day's range||91.25 - 93.50|
|52-week range||91.25 - 552.00|
|PE ratio (TTM)||-2.99|
|Earnings date||18 Sep 2017 - 22 Sep 2017|
|Dividend & yield||N/A (N/A)|
|1y target est||0.20|
Gulf Keystone Petroleum, an oil producer in Iraq's Kurdistan region, managed to lower its annual losses after cost cuts and a debt-for-equity deal that saved the company but uncertainty remains over raising output from its main oilfield. Gulf Keystone reported an annual pretax loss of $17 million on Thursday, down from a $213 million loss in 2015 after it swapped $500 million of debt for equity last year and made stringent cost cuts. Having turned a corner financially, doubts remain over whether it will be able to make needed investments in time to prevent a natural production drop at its Shaikan oilfield.
Gulf Keystone Petroleum, an oil producer in Iraq's Kurdistan region, cut its annual pretax loss to $17 million last year after a debt-for-equity deal saved it from going under. The oil company, which swapped $500 million of debt for equity in deal that diluted shareholders' ownership to 5 percent, reduced its pretax loss from $213 million in 2015, its annual results statement showed on Thursday. Gulf Keystone, which was worth $3 billion in its heyday around 2012, said it had a cash balance of $112.7 million as of Wednesday, meaning the company has enough money available to invest in increasing production at its flagship Shaikan oil field.
Gulf Keystone Petroleum, an oil producer in Iraq's Kurdistan region, cut its annual pretax loss to $17 million last year after a debt-for-equity deal saved it from going under.