OGDC & PPL_1HFY18 Result Previews
OGDC’s board meeting is scheduled today, Feb 19’18, to discuss its 1HFY18 financial results where the company is expected to publish an NPAT of PkR34.93bn (EPS: PkR8.12), up 16.4%YoY. Earnings are anticipated to be fueled by rising intl. oil prices (up 21%YoY) and the resultant upward movement of gas prices as well while overall (oil & gas) volumes remain flat at ~38.2MMBOE. Moreover, exploration expense is expected to be recorded on the lower side at PkR6.08bn as the company books 3 dry wells in the quarter (all in Zone III) as compared to 4 wells in 1HFY17. Also, maturity of high yield PIBs is likely to cause a dip in other income of the company. Along with the result, the company is expected to declare an interim dividend of PkR2/sh. from its core profitability.
PPL announces its 1HFY18 result on Friday, Feb 23’18, where we expect the company to post earnings of PkR24.98bn (EPS: PkR12.67), a 112% rise over 1HFY18 on the back of 1) 21%YoY intl. oil price hike, 2) re-pricing of Sui field, 3) substantially lower exploration expenses as the company books no dry well in the outgoing period, and 4) a one-off gain booked in 1QFY18 due to the re-pricing of TAL block fields. The company is also expected to announce an interim dividend of PkR4.5/sh along with the result.
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.
Pakistan Petroleum Limited (PPL) is a supplier of natural gas. The Company is principally engaged in conducting exploration, prospecting, development and production of oil and natural gas resources. The Company operates nine producing fields, which include Sui, Kandhkot, Adhi, Mazarani, Chachar, Adam, Adam West, Shahdadpur and Shahdadpur West. It has working interests in approximately 20 partner-operated producing fields. Its partner-operated fields include Qadirpur Gas Field, Tal Block, Miano Gas Field and Sawan Gas Field. The Company, along with its subsidiaries, has a portfolio of approximately 40 exploration blocks, of which over 20 are operated by the Company, including Block-8 in Iraq, while approximately 20 blocks consisting of three offshore leases in Pakistan and two onshore concessions in Yemen are operated by joint venture partners. Its gas production from its operated and partner-operated fields is approximately one billion cubic feet of gas per day.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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