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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

Address

3000 Turtle Creek Blvd

TX 75219 Dallas

United States of America

Representatives

Profile image for Steve Berger

Steve Berger SpeakerExhibitor

CFO
HKN Energy