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3rd Quarter 2008 OGDCL Consolidated Results Highlights

OGDCL’s net sales increased by 18.01% to Rs 88,878 million from Rs. 75,312 million for the comparable period last year.

Net profit before tax increased by 18.7% to Rs 56,858 million from Rs. 47,900 million for the comparable period last year

Net profit after tax stood at Rs 36,305 million resulting in earnings per share of Rs 8.44 as against Rs 34,497 million and earning per share of Rs 8.02 respectively during the comparable period last year.

Operating profit margin and net profit margin for the period under review was 61% and 41% respectively.

Payable third interim dividend of Rs. 2.25 per share.

The Company spudded 15 wells out of which 5 were exploratory and made two discoveries during Nine Months FY2008, Moolan -1 & Pasakhi East-1.

Net crude Oil production of 43,642 barrels per day, net gas production was 986 MMcf per day, net LPG production 368 tons per day net Sulphur production was 71 tons per day

Average net realized price for natural gas sold was Rs. 137.96 / Mcf compared to Rs. 144.13 / Mcf during comparable period last year.

Average net realized price of crude oil sold was US$ 64.79 / bbl as against US$ 53.10 / bbl during comparable period last year.

   

   
   
OGDCL – The leading E&P Player in Pakistan



 

OGDCL is the national oil & gas company of Pakistan and the flagship of the country’s E&P sector. The Company is the local market leader in terms of reserves, production and acreage, and is listed on all three stock exchanges in Pakistan and also on the London Stock Exchange since December 2006. The Company is all set to ride the wave of E&P activity, equipped with its Vision & Mission, Business and Strategic Plan, a debt-free and robust balance sheet and healthy cash reserves. The Company is ready to take on the challenges of a volatile E&P industry.  

 
   
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