Gulf Keystone Petroleum Limited (OTCPK:GUKYF) Q4 2024 Results Conference Call March 20, 2025 6:00 AM ET
Company Participants
Jon Harris – Chief Executive Officer
Gabriel Papineau-Legris – Chief Financial Officer
Conference Call Participants
Charlie Sharp – Canaccord
Werner Riding – Peel Hunt
Jon Harris
Welcome to Gulf Keystone’s 2024 Full Year Results. My name is Jon Harris, and I’m the CEO. Today, I’m joined by Gabriel Papineau-Legris, our CFO, who will be taking you through our financial performance. Over the next few slides, we will run through our operational and financial performance in 2024 and the outlook for the remainder of 2025.
Following that, we will open up the line for questions. Next slide, please. This is our regular legal disclaimer, and I’ll leave you to review at your leisure. I’d like to remind you that the presentation slides are available on our website. Next slide, please.
This is our — we delivered a strong operational and financial performance in 2024 in a year of recovery following the suspension of pipeline exports in 2023. We returned to consistently strong production levels with volumes almost doubling supported by a full year of local sales. We did this safely with zero lost time incidents in the year.
We continue to extend this track record and have been operating almost 800 days without a lost time injury. We remained extremely disciplined on capital and costs with lowest capital budget we have had since 2017. Combined with higher production over that of 2023, this discipline underpinned free cash flow generation, enabling us to restart shareholder distributions totaling $45 million in the year.
We are pleased to announce today the declaration of a $25 million interim dividend in line with our current shareholder distribution framework. 2024 distributions supported top quarter total shareholder return of 24% in the year
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