⚡ Flash Summary
OGDCL has announced the commencement of oil production from its new development well, Pasakhi-14, at a rate of 1,100 barrels per day (BPD). The well is located in District Hyderabad and is part of the Pasakhi North Development & Production Lease, where OGDCL holds a 100% working interest. The well was drilled to a depth of 2,183 meters targeting the hydrocarbon potential of the Lower Goru formation. OGDCL utilized advanced drilling technologies to ensure precise directional control and preservation of formation integrity.
📌 Key Takeaways
- 🎉 OGDCL announces production commencement at Pasakhi-14 well.
- 🛢️ Initial oil production of 1,100 BPD.
- 📍 Well located in District Hyderabad, Pakistan.
- 🔑 OGDCL holds 100% working interest in Pasakhi North D&PL.
- 📏 Well drilled to a depth of 2,183 meters.
- 🎯 Targeting hydrocarbon potential in Lower Goru formation.
- ⚙️ Utilized Rotary Steerable System (RSS) drilling technology.
- 🛡️ Employed Electromagnetic Measurement While Drilling (MWD).
- 🧪 Used Nitrified mud system for the first time by OGDCL.
- ✅ Ensures precise directional control and formation integrity.
- ⚡ Equipped with state-of-the-art ESP technology.
- 🤝 Company committed to delivering shareholder value.
- 🌍 Aims to strengthen national energy security.
- 📜 Complies with Section 96 of Securities Act, 2015.
🎯 Investment Thesis
BUY. The commencement of 1,100 BPD oil production from Pasakhi-14 represents a positive catalyst for OGDCL. This new production, coupled with OGDCL’s commitment to shareholder value and national energy security, supports a buy recommendation. Price Target: PKR 150. Time Horizon: Medium Term (12-18 months).
Disclaimer: AI-generated analysis. Not financial advice.