Ogdc and ppl: New discovery to have positive earnings impact
Naspha oil and gas block three, in district Karak, has successfully tested for oil and gas from new formations.
KARACHI:
Naspha oil and gas block three, in district Karak, has successfully tested for oil and gas from new formations, according to an AKD research report. Cumulative production flow stands at 3,165 barrels per day (bpd) of oil and 14.95 million cubic feet per day (mmcfd) of natural gas.
Production yields from Nashpa block three include Lumshiwal and Hangu accounting for 95% of cumulative production flow while Samanasuk formation accounts for approximately 5% of remaining cumulative flow.
This compares to production from Lockhart in Naspha block one and Datta and Shinawari from Nashpa block two. While actual flow rates may differ, earnings impact on Oil and Gas Development Company and Pakistan Petroleum based on reported flow rate is Rs0.60 per share and Rs0.91 per share.
Published in The Express Tribune, September 7th, 2012.
Naspha oil and gas block three, in district Karak, has successfully tested for oil and gas from new formations, according to an AKD research report. Cumulative production flow stands at 3,165 barrels per day (bpd) of oil and 14.95 million cubic feet per day (mmcfd) of natural gas.
Production yields from Nashpa block three include Lumshiwal and Hangu accounting for 95% of cumulative production flow while Samanasuk formation accounts for approximately 5% of remaining cumulative flow.
This compares to production from Lockhart in Naspha block one and Datta and Shinawari from Nashpa block two. While actual flow rates may differ, earnings impact on Oil and Gas Development Company and Pakistan Petroleum based on reported flow rate is Rs0.60 per share and Rs0.91 per share.
Published in The Express Tribune, September 7th, 2012.