Oil and Gas Development Company Limited being the operator of Toot Mining Lease with 100% working interest has made an oil discovery at Toot Deep-1 well which is located in Attock District, Punjab Province.
According to the stock filing, oil has been discovered at Toot Deep-1 well at the rate of 882 barrels per day and 0.93 million formation cubic feet per day (MMSCFD) of gas at a wellhead flowing pressure (WHFP) of 600 pounds per square inch (PSI).
The discovery was made from Lockhart Formation at Toot Deep-1 well. The well was spudded in on December 25, 2020, and was successfully drilled down to a total depth of 5545 Meters in Tobra Formation.
Based on interpretation results of open hole logs data, Lockhart Formation has successfully tested oil at the rate of 882 Barrels per day and 0.93 Million Standard Cubic Feet Per Day (MMSCFD) gas at Well Head Flowing Pressure (WHFP) of 600 Pounds per Square Inch (psi) at 32/64″ choke size.
This discovery extends Pakistan’s indigenous resources of oil and natural gas further. As per the OGDCL, the discovery is a result of aggressive exploration strategies in discovering hydrocarbons.
Whos’s going to benefit from it question is this
Ghee