April 6, 2017 / 6:15 AM / 3 months ago

BRIEF-Gulf Keystone sets 2017 production guidance at 32,000-38,000 bopd

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April 6 (Reuters) - Gulf Keystone Petroleum Ltd:

* Fy revenue at $194.4 million versus $86.2 million year ago

* Fy loss after tax of $17.4 million versus $214 million year ago

* Fy operating costs per barrel on a gross field basis reduced to $3.5/bbl from $5/bbl in 2015

* Cash balance at 5 april 2017 of $112.7 million against $100 million of debt

* Operations in the Kurdistan region remained safe and secure throughout 2016

* 2016 gross production of 12.7 million barrels of oil, up 14 percent on 2015, an average of 34,794 bopd

* Shaikan production for Q1 2017 averaged 36,293 bopd

* Current daily production is at c.38,000 bopd

* Says gross production guidance for 2017 is set at 32,000-38,000 bopd

* Says without further investment in the field beyond maintenance capital, expect production levels to be at lower-end of 2017 guidance range

* Progressing in ongoing talks with mnr on commercial,contractual conditions,particularly around regular payments conforming to psc,crude marketing arrangements

* Funded for estimated capex of $58-68 million for the 40,000 bopd stabilisation case and a further $25-45 million for the increase to 55,000 bopd Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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