OGDC discovers gas and condendate at Kharo Well 1

In a notification sent to the PSX on 19/02/2024, the Oil & Gas Development Company (OGDC) announced the discovery of gas and condensate at Kharo Well 1.

OGDCL has discovered fresh reserves at Kharo-1, in the Khewari block, district Khairpur, Sindh. The company holds a 95% working interest in the Khewari block while the remaining 5% is held by GHPL (Government Holdings Private Limited).

The execution of the drilling and testing operations achieved a depth of 3762 metres. Subsequent testing procedures registered 14.3 million standard cubic feet per day (MMSCFD) of gas, in addition to 93 barrels per day (bbls/d) of condensate.

📢 Announcement: We're on WhatsApp – Join Us There! 

Here's what you get:

• Member-Only Discussion Community
• Research Reports with Explanations & Expert Views
• Access to Exclusive KSEStocks Market Reports
• Model Portfolio with Clear Investment Rationale
• Monthly Portfolio Review & Health Check
• On-Demand Stock Coverage Requests
• PSX Facilitation (CDC Account, Share Transfer, Physical Conversion)

OGDC shares were trading at Rs. 115.53 at market close 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 →