Author Topic: OGDC -- The Index GiAnt  (Read 197196 times)

0 Members and 1 Guest are viewing this topic.

um@ir

  • Guest
OGDC -- The Index GiAnt
« Reply #-1 on: October 06, 2008, 02:38:05 PM »
All about Oil and Gas Dev
« Last Edit: January 28, 2012, 11:35:18 AM by M&M »

Pakinvestorsguide

OGDC -- The Index GiAnt
« Reply #-1 on: October 06, 2008, 02:38:05 PM »

Offline Learner7

  • Senior Member
  • *****
  • Posts: 1147
  • Thanks Received: 5
    • View Profile
Re: OGDC -- The Index GiAnt
« on: October 13, 2008, 11:47:54 AM »
GOOD NEWS

Pakistan Seeks Funds to Support Stocks, Tarin Says

Pakistan plans to set up a fund for expatriates to buy shares of government-controlled companies, before lifting curbs that have shielded investors from a record sell-off in emerging market equities.

The fund will buy stocks including Oil & Gas Development Co., the biggest fuels explorers, National Bank of Pakistan, the largest lender, and Pakistan Petroleum Ltd. the No. 1 gas producer, Shaukat Tarin, the Prime Minster's finance adviser, said in an interview from Washington D.C. today.

``We are looking at creating a fund for non-resident Pakistanis to consist of government stocks,'' Tarin said by telephone. ``The values are very good so we want to create a bouquet to offer to non-resident Pakistanis this month.''

um@ir

  • Guest
Re: OGDC -- The Index GiAnt
« Reply #1 on: October 27, 2008, 09:45:37 AM »
OGDCL to lose billions by giving Kunnar project to LPG group



ISLAMABAD (October 27 2008): The Oil and Gas Development Company Limited (OGDCL) has dumped 12 bidding companies, most of them foreign, by holding back its tender for development of Kunnar Passaki Deep project. Some of the aggrieved parties include Hyundai, ABB, Descon Presson, Etimad, Petrosin, and Speciality Processing.

The OGDCL, a public sector exploration and production company, had floated international press tender for development of Kunnar Passaki development project. Interested parties were asked to submit their tender documents by 1200 hours on April 30, 2008.

Since it was a field development project, 12 reputed foreign and local companies purchased the tender documents. Later on, date for submission of bids was extended to July 21, 2008. On July 19, 2008, the bidders were informed, through fax and e-mail messages, that the company had postponed the bid submission date and they would be informed further shortly. The bulletin No 12 dated July 19 turned out to be a shocking news for the bidders. Although the OGDCL had promised the bidders to come back to them soon but, in fact, it had an entirely different scheme: it had decided to undertake development of Kunnar Passaki field with LPG plant, instead of working on the original plan of development this field with LPG plant.

The project was held back in connivance with SSGC, which has full backing of a strong Lahore-based LPG mafia.

According to the new plan, OGDCL would provide gas to SSGC, and LPG mafia would install LPG plant on its pipeline. By doing so, OGDCL would lose billions of rupees, and provide advantage to the LPG mafia. Chanda field's case is available in OGDCL records for ready reference wherein OGDCL had made 250 million rupees as signature bonus for sale of LPG. This did not include the money that the company would get from the sale of gas at the rate of Rs 48,000 per ton per day. The case of Kunnar Passaki development project, and other three fields of OGDCL, is of more importance than Chanda field, since these fields have more gas and its quality is better. They will produce 400 barrels natural gas liquid (NGL) and approximately 670 tons LPG per day. .By giving this project of installing LPG plant to SSGC, which is acting on behalf of the Lahore-based LPG mafia, OGDCL would lose Rs 6.7 billion just as signature bonus, and its loss in terms of NGL gas would be over Rs 1.2 billion per annum.

On average, the life time of these three fields is 20 to 30 years. Total loss that OGDCL would incur over the years for signing the agreement with SSGC and, in fact, with the LPG mafia, for installing LPG plant would be approximately Rs 100 billion.

One can not understand why, instead of installing LPG plants itself, the OGDCL is happily ready to give the benefit of 100 billion rupees to the SSGC-led LPG mafia.

Another question that arises is about OGDCL's generous attitude towards SSGC. It is also surprising why one public sector company is involving another public sector company for development of LGP. Does SSGC plan to install and operate LGP plant to be set up at Kunnar Passaki itself? The answer is in negative. Many in OGDCL believe that SSGC was acting for a local LPG mafia in respect of Kunnar Passaki LPG plant project.

They also believe that SSGC is actually working on behalf of LPG mafia, and the plan of offering the field for development, without LPG, is a conspiracy against OGDCL. Successful 'handling' of Kunnar Passaki will encourage SSGC and its likeminded mafia to try to deprive OGDCL of LPG asset available at Bobi and Sangoro gas fields.

The Kunnur Passaki field development case is being presented to OGDC board on October 27 for approval. The board should ask OGDCL why it is not carrying on the development of Kunnar Passaki field with LPG plant, to add billions of rupees to its revenue annually? It should also question OGDCL management why it is planning to give its rightful benefit, of billions of rupee to SSGC and its influential LPG mafia.

It may be recalled that OGDCL's pervious board had refused to endorse the proposal of giving development work of Kunnar Passski field to the LPG mafia.

um@ir

  • Guest
Re: OGDC -- The Index GiAnt
« Reply #2 on: October 28, 2008, 11:30:33 AM »
OGDC profit jumps 54pc



KARACHI: Oil and Gas Development Company (OGDC) has reported a jump of 54 per cent in its net profits on year-on-year basis for the quarter ended on Sep 30.

Therefore, the Company has announced profit after tax at Rs18.9 billion against Rs12.3 billion recorded in the corresponding period last year - showing a massive growth of 54 per cent. This translated into Earning per Share (EPS) at Rs4.41 as compared to Rs2.9 EPS of last year.

Top line of the Company has experienced a growth of 49 per cent on the back of 61 per cent increase in oil prices in the first quarter of current fiscal year along with rupee depreciation, according to an analyst at JS Research.

Other income for the company has significantly increased by 236 per cent from Rs639 million possibly due to higher return on bank placement, better dividend and exchange gains, he added.

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #3 on: January 22, 2009, 12:54:16 PM »
First Quarter 2008-09 OGDCL Consolidated Results Highlights
 
 OGDCL’s net sales increased by 48.2% to Rs 41,384 million from Rs. 27,927 million for the quarter.

Net profit before taxation increased to Rs 28,816 million from Rs 17,286 million for the quarter.

Net profit after taxation increased to Rs 18,980 million resulting in earnings per share of Rs 4.41.

Operating profit margin and net profit margin were 64% and 46 % respectively.

Payable first interim dividend of Rs 2.0 per share.

Net crude production of 41,581 barrels per day (a decrease of 7.2% during corresponding period last year), net gas production was 966 MMcf per day (an increase of 1.7% during corresponding period last year), net LPG production 228 tons per day (a decrease of 37.4% during corresponding period last year) and net Sulphur production was 53 tons per day (a decrease of 22.8% during corresponding period last year).

Average net realized price for natural gas sold was Rs 166.47 / Mcf as against Rs 137.93 / Mcf during corresponding period last year.

Average net realized price of crude oil sold was US$ 93.78/bbl as against US$ 56.67/bbl during corresponding period last year.

478 L. Kms of 2D and 378 Sq. Kms of 3D seismic acquisition completed.
 
   
now taking the cost of oil and gas with 46% margins comes out to be 53$ a barrel and rs 98 /mcf

will ogdc b in profit with cost at 53 $ a barrel and price now around or below 40 $
« Last Edit: January 22, 2009, 01:03:57 PM by Farzooq Haider »

sarwech

  • Guest
Re: OGDC -- The Index GiAnt
« Reply #4 on: January 22, 2009, 10:09:27 PM »
mr farzooq haider,aoa
                     would u like to elaborate that how much %oil is being produced by OGDC?. i think its major production is GAS  and not OIL as u r mentioning. plz reply .thx

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #5 on: January 23, 2009, 11:50:21 AM »
mr farzooq haider,aoa
                     would u like to elaborate that how much %oil is being produced by OGDC?. i think its major production is GAS  and not OIL as u r mentioning. plz reply .thx


i will have to check the %age and will let u know

Offline Honda 125

  • Active Member
  • ***
  • Posts: 766
  • Thanks Received: 2
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #6 on: April 24, 2009, 09:06:12 AM »
OGDC posts Rs44.4bn profit, announces Rs2 dividend
 
Friday, April 24, 2009
By our correspondent

KARACHI: Oil & Gas Development Company (OGDC), the giant oil and gas exploration & production concern, reported a net profit of Rs44.4 billion for nine months ended March 31, 2009.

This is over 22 per cent higher profit than Rs36.3 billion the company earned in the corresponding period last year. Accordingly, earning per share (EPS) improved to Rs10.33 from Rs8.44 in the same period in 2008.

The board of directors, which met in Islamabad on Thursday to review and approve the company’s accounts, approved third interim cash dividend for ordinary shareholders at Rs2 per share. This would be in addition to interim dividends of Rs3.75 it had already paid during fiscal year 2009.

The dividend would be paid to those shareholders whose names appear in the register of the members on June 14, 2009, the company said in a notification sent to the Karachi Stock Exchange.

Exploration and prospecting expenditure of the company fell to Rs4.3 billion in 2009 against Rs5.4 billion in the corresponding period last year, down over 20 per cent year-on-year basis.

General and administration expenses were reduced by 11 per cent to Rs765.6 million from Rs860.2 million last year.

OGDC showed Rs24.9 million receiving on profit & loss account sheet under the head of reversal of provision for impairment loss.

For the third quarter of current fiscal OGDC posted net earnings of Rs12.6 billion against Rs12.2 billion in the same quarter last year. The earning per share (EpS) for the third quarter was Rs2.93 against Rs2.84 in 2008.

Faraz Farooq at FCEL Research said that the last quarter earning of OGDC was well in line with his research house calculation, as it was estimating EpS at Rs2.9, while the attained EpS is a much higher than the market expectations. Market was anticipating it between Rs2.6-2.7 per share, he added.

The value of OGDC share, however, declined to Rs71.13 with a loss of Rs1.63 at a turnover of 12.2 million shares at the Karachi bourse. This erosion in share value might be a result of massive technical correction the market noted on across the board.

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #7 on: June 06, 2009, 01:09:12 PM »
Qadirpur gas wellhead price: consensus reached at $3/MMBTU
ZAFAR BHUTTA
ISLAMABAD (June 06 2009): The Petroleum Ministry and the Oil and Gas Development Company Limited (OGDC) have developed a consensus on $ 3 per million British Thermal Unit (MMBTU) maximum wellhead gas price of Qadirpur gas field. The $ 3 per MMBTU wellhead gas price is calculated at $ 400 per ton high sulphur furnace oil (HSFO), a maximum limit for wellhead gas price discount of Qadirpur gas field.

The Petroleum Ministry will move a summary to Economic Co-ordination Committee (ECC) of the Cabinet for formal approval. At present, wellhead gas price of other gas fields in Pakistan ranges between $ 2.4 and $ 4.6 per MMBTU. Following an increase in wellhead gas prices of other gas fields, OGDC had requested the Petroleum Ministry to enhance the wellhead gas price of Qadirpur gas field.

After negotiations between Petroleum Ministry and OGDC, it has been agreed to set the maximum price of $ 3 per MMBTU (around Rs 240 per mmbtu valued at Rs 80 per dollar parity) of Qadirpur gas field, placing an upper cap at $ 400 per ton HSFO for maximum 70 percent discount rate. The wellhead gas price will fluctuate in line with variation in price of HSFO in international market. The wellhead pricing mechanism for Qadirpur gas field uses HSFO price for discount.

The Oil and Gas Regulatory Authority (Ogra) in its decision regarding Sui Southern Gas Company Limited (SSGC) on November 20, 2008 had adopted the wellhead gas price of Rs 161.02 per MMBTU for Qadirpur gas field.

At present, Gas Price Agreement (GPA) regarding Qadirpur gas field allows the producers to re-negotiate the discount rates with the government in case six monthly average price of HSFO escalates above $200/ton. Ogra is currently adopting wellhead gas price of Rs 161.02 per mmbtu worked out at a discount of 65 percent (HSFO price averaged at $300/ton).

The last notification regarding the Qadirpur gas, issued by Ogra effective from July 2007, continues to be operative due to pending resolution between the producer and government of Pakistan on wellhead gas price discount.

The wellhead gas prices are notified bi-annually (in January and July) by Ogra, and there may be a final settlement of Qadirpur gas price in the upcoming wellhead price notification to be issued for July-December 2009, sources said, adding that the GPA will incorporate schedule of discounts applicable at six-monthly average price of HSFO at various slabs.

The government has succeeded in re-negotiating wellhead price discounts in respect of Qadirpur gas field owned by public sector companies after a lapse of over two years. Qadirpur is the country's fourth largest gas field with 3.6tcf balance recoverable reserves. The field is 75 percent owned by Oil and Gas Development Company (OGDC), while Kirthar Pakistan possesses 8.5 percent, PPL 7 percent, PKPEL 4.75 percent and PKPEL 2 4.75 percent.

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #8 on: June 08, 2009, 12:40:18 PM »
Qadirpur gas price resolution to improve OGDC’s recurring earnings by 8% (BR)
Reportedly, the Petroleum Ministry has recommended increasing the price cap at the Qadirpur field
to US$3/mmbtu (at US$400/ton FO price benchmark). If approved by the ECC, this will increase
the field’s gas prices from current PRs162/mmbtu to PRs240/mmbtu (+48%). This will provide oneoff
jump of 20% in OGDCL oil prices in 2009 and improve future recurring earnings by 8% from our
base-case forecasts of PRs13.10/sh for FY09 and PRs11.70/sh for FY10.

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #9 on: June 08, 2009, 01:50:57 PM »
Qadirpur Wellhead Gas Revision - Potential EPS Impact of PKR1.5 for OGDC   
   
  According to media reports, the Petroleum Ministry and OGDC have developed a consensus on the Qadirpur wellhead gas price resulting in a maximum price of USD3/mmbtu for the field
 
 Finalization of this resolution will result in an FY10E incremental EPS impact of PKR1.5 and PKR0.5 for OGDC and PPL, respectively
 
 Provided finalization emerges, our NAV based Fair Value for OGDC will increase to PKR139/share from the current PKR132/share
 
 
 

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #10 on: August 06, 2009, 12:49:34 PM »
OGDC: Oil volumes down 6%, gas up 2% in FY09
Pakistan’s E&P heavyweight, OGDC witnessed 6% decline in oil production during full year FY09. Oil volumes averaged
41.0kbpd in FY09 versus that of 43.5kbpd previously. In June 2009 alone, the oil output remained 14% lower at
38.5kbpd. In FY09, the declining oil production was a consequence of lower averages at Bobi (?23%), Chanda (?12%),
Dhodak (?74%), Sono (?15%), Thora (?25%) and Lashari-C (?34%) in operating portfolio. Besides, the lower volumes at
non-operating Pindori and Adhi also affected the company’s net production. Nonetheless, the impact of lower production
from these fields was somehow reduced by the improved volumes at Dakhni (?23%), Kunar (?25%), Pasakhi (?38%) and
First Oil from Moolan North and Chak-66 NE fields. Gas supply, on the other hand, remained 2% higher at 1,000mmcfd
as against 979mmcfd in FY08. In this regard, higher volumes at Dakhni (?41%), Qadirpur (?3%), Nandpur (?40%), Mela
(?56%) in operated and Bhit (?10%) in non-operated division, allowed the company to more than offset the declines at
Dhodak (?78%) and Miano (?17%) fields. Alone in June 2009, OGDC’s gas production was 10% higher at 1,025mmcfd.
Total production, denominated in oil equivalent units, remained flat at 165kbpd in FY09. Natural gas accounted for 75%
of the company's FY09 production.

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #11 on: August 09, 2009, 06:41:57 PM »


buy bullish
resistance 91.7

Offline Farzooq

  • Administrator
  • Senior Member
  • *****
  • Posts: 19924
  • Thanks Received: 196
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #12 on: August 10, 2009, 10:22:32 AM »

almost hit 94 from a low of 91
TOP PICKS
Engro fatima ogdc pol pso dgkc mlcf kapco npl ubl atrl nml efoods aicl hcar searl

Offline Honda 125

  • Active Member
  • ***
  • Posts: 766
  • Thanks Received: 2
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #13 on: August 10, 2009, 10:26:44 AM »
Farzooq bhai kya baat ha aap ke mazaaa aa giya. Keep it up!!! ;)

Offline Farzooq

  • Administrator
  • Senior Member
  • *****
  • Posts: 19924
  • Thanks Received: 196
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #14 on: August 10, 2009, 10:35:43 AM »

almost hit 94 from a low of 91

cap
TOP PICKS
Engro fatima ogdc pol pso dgkc mlcf kapco npl ubl atrl nml efoods aicl hcar searl

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #15 on: August 11, 2009, 12:46:13 AM »
broke out target new high

Offline Asim

  • Junior Member
  • **
  • Posts: 107
  • Thanks Received: 0
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #16 on: August 11, 2009, 03:10:09 PM »
farzooq bhai and seniors OG ke bare me kya khyal hai end pe

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #17 on: August 11, 2009, 03:12:24 PM »
farzooq bhai and seniors OG ke bare me kya khyal hai end pe

buy karna hai k sell ?
i would advice profit takin on these levels

Offline Admin

  • Administrator
  • Senior Member
  • *****
  • Posts: 3915
  • Thanks Received: 15
    • View Profile
Re: OGDC -- The Index GiAnt
« Reply #18 on: August 11, 2009, 11:44:52 PM »
farzooq bhai and seniors OG ke bare me kya khyal hai end pe

buy karna hai k sell ?
i would advice profit takin on these levels