Oil & Gas Development Co. (OGDC) and Pakistan Petroleum Ltd (PPL) have entered into a non-binding agreement with the Government of Pakistan (GoP), Government of Baluchistan (GoB) and Barrick Gold Corporation to participate in the reconstituted Reko D...
As per latest PPIS data, overall 2P Gas reserves in Pakistan have declined c.5% to 19.9tcf as of December 2021, down from c.20.95tcf by June 2021. Among the large assets, oil reserves of Nashpa, Kunnar and Mela fell by 33%, 53% and 73%, respectively....
Saad Ali @ Intermarket Securities 28 February 2022
Oil & Gas Development Co. Ltd (OGDC) has posted net profits of PKR35.3bn (EPS PKR8.20) for 2QFY22, up 5% qoq but nearly doubling yoy; which beats our EPS estimate of PKR7.58 majorly due to higher exchange gains. The result takes 1HFY22 net profits to...
Saad Ali @ Intermarket Securities 23 February 2022
We estimate our E&P cluster to post near-record combined net profits of c. PKR57bn, up 69% yoy (flat qoq), thanks mostly to multiyear high crude oil prices and continuous PKR devaluation. The results should be accompanied by good payouts from all com...
In July 2021, Oil & Gas Development Co. (OGDC) notified a discovery in the exploratory well, Wali-1 (KPK). Conservatively, we assume that the well will start producing from the Lockhart formation with c.1,000bpd oil and 15mmcfd gas – equivalent to ab...
As per channel checks, the government is presently in discussions with the state owned E&Ps – majorly OGDC and PPL – to settle their outstanding circular debt dues (related to the indigenous gas sales only). In the first measure, the government will ...
Saad Ali @ Intermarket Securities 9 December 2021
Oil & Gas Development Co. Ltd. explores and develops oil and natural gas properties in Pakistan.
Oil & Gas Development