Gulf Keystone Petroleum Limited (OTCMKTS:GUKYF – Get Free Report) shares fell 7.9% on Wednesday. The stock traded as low as $2.60 and last traded at $2.60. Approximately 20,017 shares were traded during mid-day trading, an increase of 138% from the average daily volume of 8,424 shares. The stock had previously closed at $2.8225.
Gulf Keystone Petroleum Trading Down 7.9%
The business’s 50-day moving average price is $2.66 and its two-hundred day moving average price is $2.58.
Gulf Keystone Petroleum Company Profile
Gulf Keystone Petroleum plc is an independent oil and gas company focused on the exploration, development and production of crude oil in the Kurdistan Region of Iraq. The company’s principal asset is the Shaikan field, a large onshore oil field that it operates under a production-sharing contract.
Gulf Keystone has been involved in the appraisal and development of Shaikan since acquiring its interest in the field in 2007. Commercial production began in 2013, and the company has since developed production facilities, wells and related infrastructure to support the field’s operations and export activities.
The company’s business is concentrated in Kurdistan, where it works with regional authorities and contractors to produce and market Shaikan crude.
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