Karachi, May 28, 2012 (PPI-OT): Oil and Gas Regulatory Authority (OGRA) has revised the wellhead gas prices for Oil and Gas Development Company Ltd. (OGDC) operated fields for the period January 1 to June 30, 2012.
According to Alfalah Securities Limited, the price of Loti Field has been increased to PkR 124.71 from PkR 118.95 / mmbtu while that of Uch Gas Field, which sells to Uch Power Company, has been kept unchanged at USD 3.9223/ mmbtu. The price for Nandpur / Panjpir Field has been increased to PkR 335.92 from PkR 320.40 / mmbtu. The revised rates for Sadkal Gas Field range from PkR 503.35 to PkR 800.78 / mmbtu for different production levels. Similarly, the revised wellhead prices for Sari Hundi Field range from PkR 778.04 per mmbtu to PkR 457.67. The upward revision in gas wellhead prices would slightly improve the profitability of OGDC and Alfalah Securities Limited recommends a BUY on the stock.