FLASHNEWS:

OGDC Successfully Revives Gas Production at Jand-1 Well in Punjab

Attock: OGDC has successfully resumed gas production at the Jand-1 well in District Attock, Punjab, tripling its output to 21 million cubic feet per day (mmcfd) after an in-house technical team executed recompletion and stimulation. Initially discovered in 2014 and operational by 2019, the well had previously ceased production due to mechanical failure.

According to AKD Securities Limited, the Jand-1 well is now contributing significantly to OGDC's earnings, with an estimated impact of PkR0.92 per share. The Jand field holds recoverable gas reserves of 12.4 billion cubic feet (bcf), suggesting a production lifespan of approximately 1.6 years at the current flow rates. AKD Securities has also reiterated a 'BUY' stance on OGDC, citing the anticipated growth in production and exploration prospects, as well as strategic investments in projects like the Reko Diq Mining Project and offshore interests in Abu Dhabi.