OGDCL's exploration efforts yielding successful results
12/7/2011 3:40:40 PM
ISLAMABAD: The public sector's exploration and production company-Oil and Gas Development Company Limited (OGDCL)-is successfully performing its role, making four development wells during the current financial year.
Of these, two development wells namely Rajian-6 and Uch-19 were spudded during the first quarter ended September 30, 2011.
Subsequently, the company spudded Qadirpur-43 Extended Reach Well (ERW) and Uch-32 development wells during the month of October 2011, thus making a total of four wells during the current financial year, according to an official source.
Similarly, net crude oil production of 36,092 barrels per day, net gas production of 1,023 MMcf per day, net LPG production of 174 M. Tons per day and net Sulphur production of 77 M. Tons per day were witnessed during the period under review.
The OGDCL's net sales increased to Rs 44.686 billion compared to Rs 39.452 billion in the corresponding period last year.
Net profit before taxation increased to Rs 31.098 billion compared to Rs 24.137 billion in the corresponding period last year.
Net profit after taxation increased to Rs 21.915 billion compared to Rs 16.710 billion in the corresponding period of preceding year translating into an Earnings per Share of Rs 5.10.
Operating profit margin and net profit margin were 64 percent and 49 percent respectively.
While average net realized price of crude oil sold was US$ 82.78/bbl as against US$ 61.92/bbl during corresponding period last year.
Average net realized price for natural gas sold was Rs 218.32/Mcf as against Rs 216.50/Mcf during corresponding period last year.
Similarly 376 L. Kms of 2D and 191 Sq. Kms of 3D seismic acquisition was completed. –APP
Similarly, net crude oil production of 36,092 barrels per day, net gas production of 1,023 MMcf per day, net LPG production of 174 M. Tons per day and net Sulphur production of 77 M. Tons per day were witnessed during the period under review.
The OGDCL's net sales increased to Rs 44.686 billion compared to Rs 39.452 billion in the corresponding period last year.
Net profit before taxation increased to Rs 31.098 billion compared to Rs 24.137 billion in the corresponding period last year.
Net profit after taxation increased to Rs 21.915 billion compared to Rs 16.710 billion in the corresponding period of preceding year translating into an Earnings per Share of Rs 5.10.
Operating profit margin and net profit margin were 64 percent and 49 percent respectively.
While average net realized price of crude oil sold was US$ 82.78/bbl as against US$ 61.92/bbl during corresponding period last year.
Average net realized price for natural gas sold was Rs 218.32/Mcf as against Rs 216.50/Mcf during corresponding period last year.
Similarly 376 L. Kms of 2D and 191 Sq. Kms of 3D seismic acquisition was completed. –APP
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