Oil & Gas Production Remains Mostly Flat in February
As per PPIS’ weekly activity reports, the country produced 96,142 BPD of crude oil (up 2.3% MoM) and 4 BCFD of gas (down 1.3% MoM) in the four weeks ending February 27th 2018. OGDC announced a minor discovery at Guddu Block which makes us hopeful for further finds in the block. Flows from POL’s Ikhlas block remained disappointing, despite official confirmation of the reserve size. In the coming months we expect to see a rise in drilling activity as only 45 of the planned 100 wells have been spudded in FY18.We currently have a positive stance on MARI (TP PKR 1,985), and PPL (TP PKR 224).
Ismail Iqbal Securities (Private) Limited (IISPL) is a TREC holder of the Pakistan Stock Exchange, as well as an SECP registered Underwriter and Book Runner. IISPL provides comprehensive financial services including Equity Sales, Research on Equities and the Macro-Economy, Investment Advisory, Portfolio Management, Corporate Finance, and extensive services for Private Equity investors. IISPL services a diversified client base, from Institutional to Retail Investors including High Net worth Individuals.
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