ISLAMABAD : The public sector company-the Oil and Gas Development Company Limited’s (OGDCL) average net crude oil production was recorded at 40,215 barrels per day during the half financial year 2013-14.  Similarly, according to official source the company’s net gas production was recorded at 1,136 MMcf per day and net LPG production at 148 M. Tons per day and net Sulphur production at 90 M.Tons per day  The source said during the same period, the company spuded seven new wells, including two exploratory or appraisal wells namely Jakhro West-1 & Zin SML-3 and five development wells namely Qadirpur-50, 52, Kunnar Deep-9, Rajian-8 & Chak 5 Dim-2.

 The source said the OGDCL’s net sales increased to Rs 126.17 billion compared with Rs 110.63 billion in the corresponding quarter of last year.Net Profit before Taxation increased to Rs 90.50 billion compared with Rs 74.33 billion in the corresponding period last year.

 Net Profit after Taxation increased to Rs 67.23 billion as against Rs 49.31 billion in the corresponding period of preceding year translating into Earnings per Share of Rs 15.63

 Payable second interim cash dividend of Rs 2.00 per share

Operating profit margin and net profit margin were 62% and 53% respectively. Average net realized price of crude oil sold was US$ 87.45/bbl as against US$ 82.78/bbl during corresponding period last year.

 Average net realized price of natural gas sold was Rs 278.62/Mcf as against Rs 263.83/Mcf during corresponding period last year.

 962 L. Kms of 2D and 433 Sq. Kms of 3D seismic data acquisition completed.