GFKSY Gulf Keystone Pete Ltd (PK)

By Philip Waller

LONDON--Gulf Keystone Petroleum Ltd. (GKP.LN) Monday, an oil producer in Iraqi Kurdistan, said it has received $15 million from the Kurdistan Regional Government for oil sales made in October.

The group, which produces 40,000 barrels of oil a day from its Shaikan field in the semi-autonomous region of Iraq, said it has $106.1 million of cash following receipt of the payment.

Last month, shares in Gulf Keystone rose following reports that Chinese oil major Sinopec was considering acquiring it. Neither firm commented on the speculation.

At 0939 GMT, shares in Gulf Keystone were up 3.75 pence, or 2.9%, at 133.5 pence.

-Write to Philip Waller at philip.waller@wsj.com

(END) Dow Jones Newswires

January 23, 2017 05:37 ET (10:37 GMT)

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