Gulf Keystone Shares Soar on Higher Oil Prices and Cost Cuts

Gulf Keystone's shares surged 9.3% after reporting improved earnings in the first half of 2026, driven by higher oil prices and lower operating costs that offset production shut-ins.

The company reported adjusted EBITDA of $51.7 million for the period, up from $41.1 million last year, despite gross average production falling to 14,600 barrels of oil per day due to regional security issues.

Revenue based on entitlement invoices reached $82.8 million, flat compared to the same period in 2025, with an average realized price for export sales jumping to $83.5 per barrel from $27.8 per barrel last year.