Oil & Gas Development

Oil and Gas Development Company is a petroleum exploration and production (E&P) company in the Pakistan oil and gas sector. Co.'s principal activity is to explore, develop, produce and sell oil and gas resources and related activities. Co. also manufactures Gas, Liquefied Petroleum Gas, Crude Oil, and Sulphur. Co.'s major fields contributing in the aforesaid production of crude oil include Nashpa, Kunnar/KPD, Pasakhi, Sinjhoro and Rajian and for gas include Qadirpur, Uch, KPD, Nashpa and Dakhni. Co. carries out exploration and development activities on its own as well as in joint ventures with other oil companies.
  • TickerOGDC
  • ISINPK0080201012
  • ExchangePakistan Stock Exchange
  • SectorOil & Gas Producers
  • CountryPakistan
Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan E&Ps: 1QFY22 results preview

PKR WEAKNESS AND HIGHER OIL PRICES TO ELEVATE EARNINGS * Despite flattish to mildly lower production, our E&P Universe is expected to post cumulative net profits of PKR56.4bn for 1QFY22, up 31% qoq and 36% yoy – thanks to higher oil and gas prices and sharp PKR devaluation. Notably, the incremental earnings emanated largely from PKR weakness. * As per PPIS data, gas production for all three companies in our coverage rose about 3% qoq, even though some large assets depicted sharp decline...

Shahrukh Saleem
  • Shahrukh Saleem
OGDC Oil & Gas Devel... (Oil & Gas)

Pakistan Oil & Gas_Crack spreads reacting to energy crunch, (AKD Daily...

AKD Daily Pakistan Oil & Gas: Crack spreads reacting to energy crunch, Refining margins continue to tread on the same path with spreads for HSD/MOGAS remaining at USD2.4/3.6/bbl for first fifteen days of Sep’21 where HSD spreads rebound sharply from USD0.54/bbl for last fifteen days of Aug’21 Even though export of MOGAS from China and India has declined, the cracks continue to trade in the range of USD4-6/bbl as demand of the product is facing a slower recovery compared to HSD which is mainly used in industries and industrial transport HSFO cracks though remain negative, a significant re...

Ailia Naeem
  • Ailia Naeem
OGDC Oil & Gas Devel... (Oil & Gas)

OGDC_Best placed amid oil price upsurge , (AKD Daily, Sep 10, 2021)

AKD Daily OGDC: Best placed amid oil price upsurge OGDC continues to trade at undemanding valuations even as crude oil prices witness a 45% CYTD increase. Going forward, the oil demand outstripping production in 2022 is expected to be contained by strengthening US$. We therefore, incorporate oil prices for FY22/23 at US$68/60 per bbl and USD PkR exchange rate of 163/171 in our projections. OGDC stands out in the E&P sector with a diversified production base, where c. 70% of oil and gas production emanating from 6 and 3 fields, respectively, as opposed to more concentrated production base ...

Muhammad Saad Ali
  • Muhammad Saad Ali
OGDC Oil & Gas Devel... (Oil & Gas)

Oil & Gas Development: 4QFY21 review – misses expectations on lower re...

Oil & Gas Development Co. Ltd (OGDC) has posted a net profit of PKR25.2bn (EPS PKR5.86) for 4QFY21, up 4% qoq and 41% yoy, which is lower than our EPS estimate of PKR6.37. This takes FY21 net profits to PKR91.5bn (PKR21.28/sh), down 9% yoy. OGDC has also announced a final cash dividend of PKR1.5/sh – also less than our expected DPS of PKR2.5/sh – taking full year payout to PKR6.9/sh. Major deviation from our 4Q estimate has come from lower net revenues. KEY HIGHLIGHTS FOR 4QFY21: * Net Sales...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan Oil & Gas – June 2021 reserves update

MODERATE CHANGES IN OVERALL HYDROCARBON RESERVES PPIS recently updated the 2P reserves of oil and gas in Pakistan. Overall Gas reserves, by June 2021, are down 1.2% to c.20.95tcf – compared to the level in December 2020. Oil reserves, however, have declined c.6.5% to c.249mmbbl, from c.266mmbbl in December 2020. KEY HIGHLIGHTS OF THE CHANGES IN HYDROCARBON RESERVES: * Significant upgrade at Sui (Operator, PPL): Gas reserves of Sui have been upgraded by 26% from the level in December 2020 to ...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan E&Ps: 1QFY22 results preview

PKR WEAKNESS AND HIGHER OIL PRICES TO ELEVATE EARNINGS * Despite flattish to mildly lower production, our E&P Universe is expected to post cumulative net profits of PKR56.4bn for 1QFY22, up 31% qoq and 36% yoy – thanks to higher oil and gas prices and sharp PKR devaluation. Notably, the incremental earnings emanated largely from PKR weakness. * As per PPIS data, gas production for all three companies in our coverage rose about 3% qoq, even though some large assets depicted sharp decline...

Shahrukh Saleem
  • Shahrukh Saleem
OGDC Oil & Gas Devel... (Oil & Gas)

Pakistan Oil & Gas_Crack spreads reacting to energy crunch, (AKD Daily...

AKD Daily Pakistan Oil & Gas: Crack spreads reacting to energy crunch, Refining margins continue to tread on the same path with spreads for HSD/MOGAS remaining at USD2.4/3.6/bbl for first fifteen days of Sep’21 where HSD spreads rebound sharply from USD0.54/bbl for last fifteen days of Aug’21 Even though export of MOGAS from China and India has declined, the cracks continue to trade in the range of USD4-6/bbl as demand of the product is facing a slower recovery compared to HSD which is mainly used in industries and industrial transport HSFO cracks though remain negative, a significant re...

Ailia Naeem
  • Ailia Naeem
OGDC Oil & Gas Devel... (Oil & Gas)

OGDC_Best placed amid oil price upsurge , (AKD Daily, Sep 10, 2021)

AKD Daily OGDC: Best placed amid oil price upsurge OGDC continues to trade at undemanding valuations even as crude oil prices witness a 45% CYTD increase. Going forward, the oil demand outstripping production in 2022 is expected to be contained by strengthening US$. We therefore, incorporate oil prices for FY22/23 at US$68/60 per bbl and USD PkR exchange rate of 163/171 in our projections. OGDC stands out in the E&P sector with a diversified production base, where c. 70% of oil and gas production emanating from 6 and 3 fields, respectively, as opposed to more concentrated production base ...

Muhammad Saad Ali
  • Muhammad Saad Ali
OGDC Oil & Gas Devel... (Oil & Gas)

Oil & Gas Development: 4QFY21 review – misses expectations on lower re...

Oil & Gas Development Co. Ltd (OGDC) has posted a net profit of PKR25.2bn (EPS PKR5.86) for 4QFY21, up 4% qoq and 41% yoy, which is lower than our EPS estimate of PKR6.37. This takes FY21 net profits to PKR91.5bn (PKR21.28/sh), down 9% yoy. OGDC has also announced a final cash dividend of PKR1.5/sh – also less than our expected DPS of PKR2.5/sh – taking full year payout to PKR6.9/sh. Major deviation from our 4Q estimate has come from lower net revenues. KEY HIGHLIGHTS FOR 4QFY21: * Net Sales...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan Oil & Gas – June 2021 reserves update

MODERATE CHANGES IN OVERALL HYDROCARBON RESERVES PPIS recently updated the 2P reserves of oil and gas in Pakistan. Overall Gas reserves, by June 2021, are down 1.2% to c.20.95tcf – compared to the level in December 2020. Oil reserves, however, have declined c.6.5% to c.249mmbbl, from c.266mmbbl in December 2020. KEY HIGHLIGHTS OF THE CHANGES IN HYDROCARBON RESERVES: * Significant upgrade at Sui (Operator, PPL): Gas reserves of Sui have been upgraded by 26% from the level in December 2020 to ...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan E&Ps: 1QFY22 results preview

PKR WEAKNESS AND HIGHER OIL PRICES TO ELEVATE EARNINGS * Despite flattish to mildly lower production, our E&P Universe is expected to post cumulative net profits of PKR56.4bn for 1QFY22, up 31% qoq and 36% yoy – thanks to higher oil and gas prices and sharp PKR devaluation. Notably, the incremental earnings emanated largely from PKR weakness. * As per PPIS data, gas production for all three companies in our coverage rose about 3% qoq, even though some large assets depicted sharp decline...

Shahrukh Saleem
  • Shahrukh Saleem
OGDC Oil & Gas Devel... (Oil & Gas)

Pakistan Oil & Gas_Crack spreads reacting to energy crunch, (AKD Daily...

AKD Daily Pakistan Oil & Gas: Crack spreads reacting to energy crunch, Refining margins continue to tread on the same path with spreads for HSD/MOGAS remaining at USD2.4/3.6/bbl for first fifteen days of Sep’21 where HSD spreads rebound sharply from USD0.54/bbl for last fifteen days of Aug’21 Even though export of MOGAS from China and India has declined, the cracks continue to trade in the range of USD4-6/bbl as demand of the product is facing a slower recovery compared to HSD which is mainly used in industries and industrial transport HSFO cracks though remain negative, a significant re...

Ailia Naeem
  • Ailia Naeem
OGDC Oil & Gas Devel... (Oil & Gas)

OGDC_Best placed amid oil price upsurge , (AKD Daily, Sep 10, 2021)

AKD Daily OGDC: Best placed amid oil price upsurge OGDC continues to trade at undemanding valuations even as crude oil prices witness a 45% CYTD increase. Going forward, the oil demand outstripping production in 2022 is expected to be contained by strengthening US$. We therefore, incorporate oil prices for FY22/23 at US$68/60 per bbl and USD PkR exchange rate of 163/171 in our projections. OGDC stands out in the E&P sector with a diversified production base, where c. 70% of oil and gas production emanating from 6 and 3 fields, respectively, as opposed to more concentrated production base ...

Muhammad Saad Ali
  • Muhammad Saad Ali
OGDC Oil & Gas Devel... (Oil & Gas)

Oil & Gas Development: 4QFY21 review – misses expectations on lower re...

Oil & Gas Development Co. Ltd (OGDC) has posted a net profit of PKR25.2bn (EPS PKR5.86) for 4QFY21, up 4% qoq and 41% yoy, which is lower than our EPS estimate of PKR6.37. This takes FY21 net profits to PKR91.5bn (PKR21.28/sh), down 9% yoy. OGDC has also announced a final cash dividend of PKR1.5/sh – also less than our expected DPS of PKR2.5/sh – taking full year payout to PKR6.9/sh. Major deviation from our 4Q estimate has come from lower net revenues. KEY HIGHLIGHTS FOR 4QFY21: * Net Sales...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan Oil & Gas – June 2021 reserves update

MODERATE CHANGES IN OVERALL HYDROCARBON RESERVES PPIS recently updated the 2P reserves of oil and gas in Pakistan. Overall Gas reserves, by June 2021, are down 1.2% to c.20.95tcf – compared to the level in December 2020. Oil reserves, however, have declined c.6.5% to c.249mmbbl, from c.266mmbbl in December 2020. KEY HIGHLIGHTS OF THE CHANGES IN HYDROCARBON RESERVES: * Significant upgrade at Sui (Operator, PPL): Gas reserves of Sui have been upgraded by 26% from the level in December 2020 to ...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan E&Ps: 1QFY22 results preview

PKR WEAKNESS AND HIGHER OIL PRICES TO ELEVATE EARNINGS * Despite flattish to mildly lower production, our E&P Universe is expected to post cumulative net profits of PKR56.4bn for 1QFY22, up 31% qoq and 36% yoy – thanks to higher oil and gas prices and sharp PKR devaluation. Notably, the incremental earnings emanated largely from PKR weakness. * As per PPIS data, gas production for all three companies in our coverage rose about 3% qoq, even though some large assets depicted sharp decline...

Shahrukh Saleem
  • Shahrukh Saleem
OGDC Oil & Gas Devel... (Oil & Gas)

Pakistan Oil & Gas_Crack spreads reacting to energy crunch, (AKD Daily...

AKD Daily Pakistan Oil & Gas: Crack spreads reacting to energy crunch, Refining margins continue to tread on the same path with spreads for HSD/MOGAS remaining at USD2.4/3.6/bbl for first fifteen days of Sep’21 where HSD spreads rebound sharply from USD0.54/bbl for last fifteen days of Aug’21 Even though export of MOGAS from China and India has declined, the cracks continue to trade in the range of USD4-6/bbl as demand of the product is facing a slower recovery compared to HSD which is mainly used in industries and industrial transport HSFO cracks though remain negative, a significant re...

Ailia Naeem
  • Ailia Naeem
OGDC Oil & Gas Devel... (Oil & Gas)

OGDC_Best placed amid oil price upsurge , (AKD Daily, Sep 10, 2021)

AKD Daily OGDC: Best placed amid oil price upsurge OGDC continues to trade at undemanding valuations even as crude oil prices witness a 45% CYTD increase. Going forward, the oil demand outstripping production in 2022 is expected to be contained by strengthening US$. We therefore, incorporate oil prices for FY22/23 at US$68/60 per bbl and USD PkR exchange rate of 163/171 in our projections. OGDC stands out in the E&P sector with a diversified production base, where c. 70% of oil and gas production emanating from 6 and 3 fields, respectively, as opposed to more concentrated production base ...

Muhammad Saad Ali
  • Muhammad Saad Ali
OGDC Oil & Gas Devel... (Oil & Gas)

Oil & Gas Development: 4QFY21 review – misses expectations on lower re...

Oil & Gas Development Co. Ltd (OGDC) has posted a net profit of PKR25.2bn (EPS PKR5.86) for 4QFY21, up 4% qoq and 41% yoy, which is lower than our EPS estimate of PKR6.37. This takes FY21 net profits to PKR91.5bn (PKR21.28/sh), down 9% yoy. OGDC has also announced a final cash dividend of PKR1.5/sh – also less than our expected DPS of PKR2.5/sh – taking full year payout to PKR6.9/sh. Major deviation from our 4Q estimate has come from lower net revenues. KEY HIGHLIGHTS FOR 4QFY21: * Net Sales...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan Oil & Gas – June 2021 reserves update

MODERATE CHANGES IN OVERALL HYDROCARBON RESERVES PPIS recently updated the 2P reserves of oil and gas in Pakistan. Overall Gas reserves, by June 2021, are down 1.2% to c.20.95tcf – compared to the level in December 2020. Oil reserves, however, have declined c.6.5% to c.249mmbbl, from c.266mmbbl in December 2020. KEY HIGHLIGHTS OF THE CHANGES IN HYDROCARBON RESERVES: * Significant upgrade at Sui (Operator, PPL): Gas reserves of Sui have been upgraded by 26% from the level in December 2020 to ...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan E&Ps: 1QFY22 results preview

PKR WEAKNESS AND HIGHER OIL PRICES TO ELEVATE EARNINGS * Despite flattish to mildly lower production, our E&P Universe is expected to post cumulative net profits of PKR56.4bn for 1QFY22, up 31% qoq and 36% yoy – thanks to higher oil and gas prices and sharp PKR devaluation. Notably, the incremental earnings emanated largely from PKR weakness. * As per PPIS data, gas production for all three companies in our coverage rose about 3% qoq, even though some large assets depicted sharp decline...

Shahrukh Saleem
  • Shahrukh Saleem
OGDC Oil & Gas Devel... (Oil & Gas)

Pakistan Oil & Gas_Crack spreads reacting to energy crunch, (AKD Daily...

AKD Daily Pakistan Oil & Gas: Crack spreads reacting to energy crunch, Refining margins continue to tread on the same path with spreads for HSD/MOGAS remaining at USD2.4/3.6/bbl for first fifteen days of Sep’21 where HSD spreads rebound sharply from USD0.54/bbl for last fifteen days of Aug’21 Even though export of MOGAS from China and India has declined, the cracks continue to trade in the range of USD4-6/bbl as demand of the product is facing a slower recovery compared to HSD which is mainly used in industries and industrial transport HSFO cracks though remain negative, a significant re...

Ailia Naeem
  • Ailia Naeem
OGDC Oil & Gas Devel... (Oil & Gas)

OGDC_Best placed amid oil price upsurge , (AKD Daily, Sep 10, 2021)

AKD Daily OGDC: Best placed amid oil price upsurge OGDC continues to trade at undemanding valuations even as crude oil prices witness a 45% CYTD increase. Going forward, the oil demand outstripping production in 2022 is expected to be contained by strengthening US$. We therefore, incorporate oil prices for FY22/23 at US$68/60 per bbl and USD PkR exchange rate of 163/171 in our projections. OGDC stands out in the E&P sector with a diversified production base, where c. 70% of oil and gas production emanating from 6 and 3 fields, respectively, as opposed to more concentrated production base ...

Muhammad Saad Ali
  • Muhammad Saad Ali
OGDC Oil & Gas Devel... (Oil & Gas)

Oil & Gas Development: 4QFY21 review – misses expectations on lower re...

Oil & Gas Development Co. Ltd (OGDC) has posted a net profit of PKR25.2bn (EPS PKR5.86) for 4QFY21, up 4% qoq and 41% yoy, which is lower than our EPS estimate of PKR6.37. This takes FY21 net profits to PKR91.5bn (PKR21.28/sh), down 9% yoy. OGDC has also announced a final cash dividend of PKR1.5/sh – also less than our expected DPS of PKR2.5/sh – taking full year payout to PKR6.9/sh. Major deviation from our 4Q estimate has come from lower net revenues. KEY HIGHLIGHTS FOR 4QFY21: * Net Sales...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan Oil & Gas – June 2021 reserves update

MODERATE CHANGES IN OVERALL HYDROCARBON RESERVES PPIS recently updated the 2P reserves of oil and gas in Pakistan. Overall Gas reserves, by June 2021, are down 1.2% to c.20.95tcf – compared to the level in December 2020. Oil reserves, however, have declined c.6.5% to c.249mmbbl, from c.266mmbbl in December 2020. KEY HIGHLIGHTS OF THE CHANGES IN HYDROCARBON RESERVES: * Significant upgrade at Sui (Operator, PPL): Gas reserves of Sui have been upgraded by 26% from the level in December 2020 to ...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan E&Ps: 1QFY22 results preview

PKR WEAKNESS AND HIGHER OIL PRICES TO ELEVATE EARNINGS * Despite flattish to mildly lower production, our E&P Universe is expected to post cumulative net profits of PKR56.4bn for 1QFY22, up 31% qoq and 36% yoy – thanks to higher oil and gas prices and sharp PKR devaluation. Notably, the incremental earnings emanated largely from PKR weakness. * As per PPIS data, gas production for all three companies in our coverage rose about 3% qoq, even though some large assets depicted sharp decline...

Shahrukh Saleem
  • Shahrukh Saleem
OGDC Oil & Gas Devel... (Oil & Gas)

Pakistan Oil & Gas_Crack spreads reacting to energy crunch, (AKD Daily...

AKD Daily Pakistan Oil & Gas: Crack spreads reacting to energy crunch, Refining margins continue to tread on the same path with spreads for HSD/MOGAS remaining at USD2.4/3.6/bbl for first fifteen days of Sep’21 where HSD spreads rebound sharply from USD0.54/bbl for last fifteen days of Aug’21 Even though export of MOGAS from China and India has declined, the cracks continue to trade in the range of USD4-6/bbl as demand of the product is facing a slower recovery compared to HSD which is mainly used in industries and industrial transport HSFO cracks though remain negative, a significant re...

Ailia Naeem
  • Ailia Naeem
OGDC Oil & Gas Devel... (Oil & Gas)

OGDC_Best placed amid oil price upsurge , (AKD Daily, Sep 10, 2021)

AKD Daily OGDC: Best placed amid oil price upsurge OGDC continues to trade at undemanding valuations even as crude oil prices witness a 45% CYTD increase. Going forward, the oil demand outstripping production in 2022 is expected to be contained by strengthening US$. We therefore, incorporate oil prices for FY22/23 at US$68/60 per bbl and USD PkR exchange rate of 163/171 in our projections. OGDC stands out in the E&P sector with a diversified production base, where c. 70% of oil and gas production emanating from 6 and 3 fields, respectively, as opposed to more concentrated production base ...

Muhammad Saad Ali
  • Muhammad Saad Ali
OGDC Oil & Gas Devel... (Oil & Gas)

Oil & Gas Development: 4QFY21 review – misses expectations on lower re...

Oil & Gas Development Co. Ltd (OGDC) has posted a net profit of PKR25.2bn (EPS PKR5.86) for 4QFY21, up 4% qoq and 41% yoy, which is lower than our EPS estimate of PKR6.37. This takes FY21 net profits to PKR91.5bn (PKR21.28/sh), down 9% yoy. OGDC has also announced a final cash dividend of PKR1.5/sh – also less than our expected DPS of PKR2.5/sh – taking full year payout to PKR6.9/sh. Major deviation from our 4Q estimate has come from lower net revenues. KEY HIGHLIGHTS FOR 4QFY21: * Net Sales...

Muhammad Saad Ali
  • Muhammad Saad Ali

Pakistan Oil & Gas – June 2021 reserves update

MODERATE CHANGES IN OVERALL HYDROCARBON RESERVES PPIS recently updated the 2P reserves of oil and gas in Pakistan. Overall Gas reserves, by June 2021, are down 1.2% to c.20.95tcf – compared to the level in December 2020. Oil reserves, however, have declined c.6.5% to c.249mmbbl, from c.266mmbbl in December 2020. KEY HIGHLIGHTS OF THE CHANGES IN HYDROCARBON RESERVES: * Significant upgrade at Sui (Operator, PPL): Gas reserves of Sui have been upgraded by 26% from the level in December 2020 to ...

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