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4-Traders Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Oil & Gas Development Co., Ltd.    OGDC   PK0080201012

OIL & GAS DEVELOPMENT CO., LTD. (OGDC)
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Oil & Gas Development : OGDCL injects five new oil, gas wells in production gathering system

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01/13/2018 | 03:56pm CEST

Oil and Gas Development Company (OGDCL) has injected five new oil and gas wells, producing 4,133 barrels crude oil and 891 mmcf gas , in its production gathering system during first quarter of the current fiscal year.

The company, being cognizant of the countrys increasing energy demand, added production of five newly operated wells namely Pakhro-I, Dachrapur-3, Chanda-4 and Qadirpur-58 and HRL-12 in the system, official sources told APP.

They said the OGDCLs crude oil production had reached 42,529 barrels per day (bpd) in first quarter as compared to the same period of the corresponding year 2016-17, showing 6 percent growth.

Similarly, production of Liquefied Petroleum Gas (LPG) witnessed 73 percent surge during the period under review. The production has increased from 342 tons per day (tpd) to 590 tpd, the sources added.

The company drilled two new development wells namely Mela-6 and Qadirpur HRL-14, while it made two oil and gas discoveries in districts Sukkur and Hyderabad of the Sindh province.

Replying to a question, they said the company in an effort to explore new oil and gas reserves continued with its seismic data activities and acquired 181 sq. km of 3D and 49 Line Km of 2D seismic data during the period.

In order to arrest natural decline and revive production from mature wells, they sources informed that the OGDCL carried out successful work-over jobs at wells including Kunnar-10 and Pasakhi-7.

Answering a question, they said the company earned Rs 17.009 billion profit as compared to Rs 14.631 billion in same period of the last year.

(c) 2018 2017 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( PKR)
Sales 2018 192 B
EBIT 2018 95 189 M
Net income 2018 75 898 M
Debt 2018 907 M
Yield 2018 5,77%
P/E ratio 2018 8,41
P/E ratio 2019 7,38
EV / Sales 2018 3,32x
EV / Sales 2019 2,94x
Capitalization 638 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 188  PKR
Spread / Average Target 29%
EPS Revisions
Managers
NameTitle
Zahid Mir CEO, MD, COO & Executive Director
Zahid Muzaffar Chairman
Irteza Ali Qureshi Chief Financial Officer
Kamran Yusuf Shami Chief Information Officer
Iskander Mohammed Khan Independent Non-Executive Director
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