MARI’s third Ghazij well signals a promising future

In a notification sent to PSX on 18/04/2024, Mari Petroleum Limited (MARI) has announced the third Ghazij well exceeds expectations at Mari Development & Production Lease.

MPCL has successfully drilled and tested the third appraisal well in the Ghazij formation in the Mari D&PL. This well is a part of the appraisal program for the Ghazij discovery which was disclosed vide letter no. MPCLlCS/CA-02/3386, dated January 25, 2023. The well was spudded in on February 15, 2024, and drilled down to a depth of 1,483 meters. The post-acid gas flow rate from the well was 10.5 million standard cubic feet per day (MMSCFD) with a wellhead flowing pressure (WHFP) of 490 pounds per square inch (Psi) at 64/64-inch choke size. The well shall be put into production in due course after the completion of requisite regulatory formalities. The company is also preparing a field development plan for submission to the relevant regulatory authority for approval. MPCL is the Operator of Mari D&PL with 100% working interest.

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The shares of MARI were last trading at Rs.2646.15 today.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →