HKN Energy Exhibitor
Presentation
HKN Energy is a privately held independent E&P company with oil production in the Kurdistan Region of Iraq (KRI). The company was founded by majority shareholder Ross Perot Jr in 2007 and holds a 62% operated PSC interest (77.5% working interest) in the Sarsang block which is expected to produce 27-30k bopd gross in 2021e. Given the large size of the field, production could reach 100k bopd gross longer term subject to sufficient gas handling coming in place at the field.The company raised a USD 100m bond in 2019 to finance a new production facility in order to increase field capacity to ~56k bopd. Due to the Covid-19 situation and oil price collapse, the new facility is now expected to start-up in Q2'22. The company produces light crude with a low discount to Brent compared to peers, with corresponding low lifting costs of USD 4-6/bbl expected over the coming years.
HKN has a solid financial position and has been able to put in place a USD 49m loan from the US International Development Finance Corporation.
Agenda
HKN Energy
Thursday March 25, 2021 13:10 - 13:30 CET Stream 1
Contact information
Website
Address
3000 Turtle Creek Blvd
TX 75219 Dallas
United States of America
Representatives
Steve Berger SpeakerExhibitor
CFO
HKN Energy