Oil and Gas Development Company Ltd (OGDC) has successfully discovered the Soghri North-1 exploratory well in Attock District, Punjab. The well yielded 13.95mmcfd of gas and 430bpd of oil, respectively.

Notably, this marks OGDC’s seventh successful discovery/production enhancement during CYTD, reflecting the company’s improving ability to carry out E&P activities, supported by a strengthened liquidity position.

We estimate the new find to contribute an annualized EPS impact of PkR1.03/sh for OGDC.

Courtesy – AKD Research