AIRLINK 189.45 Increased By ▲ 1.42 (0.76%)
BOP 11.20 Decreased By ▼ -0.66 (-5.56%)
CNERGY 7.29 Decreased By ▼ -0.25 (-3.32%)
FCCL 36.70 Decreased By ▼ -1.09 (-2.88%)
FFL 15.00 Decreased By ▼ -0.24 (-1.57%)
FLYNG 26.39 Increased By ▲ 0.86 (3.37%)
HUBC 131.45 Increased By ▲ 1.30 (1%)
HUMNL 13.50 Decreased By ▼ -0.11 (-0.81%)
KEL 4.27 Decreased By ▼ -0.08 (-1.84%)
KOSM 6.05 Decreased By ▼ -0.12 (-1.94%)
MLCF 45.99 Increased By ▲ 0.31 (0.68%)
OGDC 202.49 Decreased By ▼ -3.94 (-1.91%)
PACE 6.10 Decreased By ▼ -0.28 (-4.39%)
PAEL 38.18 Decreased By ▼ -2.13 (-5.28%)
PIAHCLA 16.81 Decreased By ▼ -0.14 (-0.83%)
PIBTL 7.91 Decreased By ▼ -0.12 (-1.49%)
POWER 9.85 Decreased By ▼ -0.18 (-1.79%)
PPL 173.84 Decreased By ▼ -5.00 (-2.8%)
PRL 34.94 Decreased By ▼ -1.42 (-3.91%)
PTC 24.10 Decreased By ▼ -0.29 (-1.19%)
SEARL 101.80 Decreased By ▼ -1.36 (-1.32%)
SILK 1.06 Decreased By ▼ -0.01 (-0.93%)
SSGC 32.68 Decreased By ▼ -3.56 (-9.82%)
SYM 17.95 Decreased By ▼ -0.28 (-1.54%)
TELE 8.11 Decreased By ▼ -0.27 (-3.22%)
TPLP 12.02 Decreased By ▼ -0.14 (-1.15%)
TRG 67.44 Increased By ▲ 0.11 (0.16%)
WAVESAPP 11.79 Decreased By ▼ -0.22 (-1.83%)
WTL 1.53 Decreased By ▼ -0.04 (-2.55%)
YOUW 3.95 Increased By ▲ 0.06 (1.54%)
BR100 11,819 Decreased By -87.9 (-0.74%)
BR30 35,000 Decreased By -554.1 (-1.56%)
KSE100 112,085 Decreased By -478.8 (-0.43%)
KSE30 34,946 Decreased By -148 (-0.42%)

Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, announced the discovery of hydrocarbon reserves at the Bettani-02 (Slant) well in the district of Laki Marwat, Khyber Pakhtunkhwa.

The company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.

“We are pleased to announce that OGDCL, the operator of Wali Exploration License with a 100% working interest, has made a gas and condensate discovery in Samanasuk formation, an exploratory zone, at the Bettani-02 (Slant) well located in district Laki Marwat, Khyber Pakhtunkhwa,” read the notice.

OGDCL said the Bettani-02 well was spudded in as an appraisal well and drilled to a depth of 5,080 meters into the Shinawari formation.

“During drilling, a 247-meter-thick Samanasuk formation (exploratory effort) was penetrated. Cased Hole DST-1 was carried out, and the well flowed at a rate of 2.14 million standard cubic feet per day (mmscfd) of gas and 74 barrels of condensate per day (bcpd) on a 32/64” choke with a wellhead flowing pressure of 435 psi,“ the E&P said.

The discovery marks the first-ever hydrocarbon find in Samanasuk formation within Wali Exploration License.

“This discovery has further extended the hydrocarbon play area in the southwestern part of Bannu Basin and de-risked the exploration potential of deeper reservoirs, for which OGDCL has formulated a comprehensive exploration program,” the notice added.

The latest discovery is expected to have an earnings per share (EPS) impact of Re0.2 for OGDC, according to JS Global.

In October, OGDCL discovered natural gas reserves at Shahu-1 well in district Khairpur, Sindh.

In September, the company discovered hydrocarbon reserves at Akhiro-1 exploratory well located in district Khairpur.

OGDCL is the largest E&P in the country with operations including exploration, drilling operation services, production, reservoir management, and engineering support. It has the most extensive exploration acreage in Pakistan, covering over 40% of the country’s total acreage awarded with net oil and gas hydrocarbons.

Comments

200 characters
NAVEED Dec 17, 2024 11:37am
Alhamdolilah Keep going fast unless nation becomes oil and gas exporter. while doing in KPK sindh and Punjab never forget Baluchistan. self help is the best practice and stratigy. Alhamdolilah
thumb_up Recommended (0) reply Reply