Oil and Gas Development Company Limited (OGDCL) has announced gas and condensate discovery in Samanasuk formation, an exploratory zone, at the Bettani-02 (Slant) well located in District Laki Marwat, Khyber Pakhtunkhwa Province.
The E&P giant shared this development with the Pakistan Stock Exchange (PSX) through a notification on Friday in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations.
Oil and Gas Development Company is the operator of the Wali Exploration License with a 100% working interest.
The company said that the Bettani-02 (Slant) well was spudded in as an appraisal well and drilled to a depth of 5,080 meters into the Shinawari formation.
During drilling, a 247-meter-thick Samanasuk formation (exploratory effort) was penetrated. Cased Hole DST-1 was carried out, and the well flowed at a rate of 2.14 Million Standard Cubic Feet per Day (MMSCFD) of gas and 74 barrels of condensate per day on a 32/64” choke with a wellhead flowing pressure of 435 psi.
Based on initial testing results, the discovery marks the first-ever hydrocarbon find in the Samanasuk formation within the Wali Exploration License.
This discovery has further extended the hydrocarbon play area in the southwestern part of the Bannu Basin and de-risked the exploration potential of deeper reservoirs, for which OGDCL has formulated a comprehensive exploration program.
