Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Jura Energy (TSX:JEC) begins production at Badin IV South
  • The company will sell conventional natural gas to Sui Southern Gas Company and natural gas liquids directly to refineries
  • Production of CNG at 22 million cubic feet per day
  • Production of natural gas liquids at 174 barrels per day
  • JEC shares were up 4.17 per cent and traded at C$0.13 per share

Pakistani-focused gas company Jura Energy (TSX:JEC) has informed that market that it has started production at its Badin IV South leases last week.

Located in Sindh province, the leases are comprised of the Ayesha, Aminah and Ayesha North wells.

Current production of conventional natural gas (CNG) from Badin IV South is registered at 22 million cubic feet per day, and 174 barrels per day of natural gas liquids (NGL). The latter has a yield of about 7.9 barrels per million cubic feet.     

The company will sell CNG to the Sui Southern Gas Company while NGLs will be sold directly to refineries in Pakistan.

Jura Energy (TSX:JEC) said prices are determined by prescribed formulas under the Pakistan Exploration and Production Policy 2012. It is based on the carriage and freight price of a basket of crude oil imported into the country.

Under this pricing regime and the ‘basket’ price of C$70.17 (US$53) per barrel, the company expects to price CNG at C$6.01 (US$4.54) per million British Thermal Units and NGLs at C$64.14 (US$48.45) per barrel.

The company holds a 27.5 per cent interest in the Badin IV South block, which is operated by Petroleum Exploration (Private) Limited, which has a 47.5 per cent stake.

Jura Energy shares were up 4.17 per cent and traded at C$0.13 per share.

More From The Market Herald

" PetroTal Corp (TSXV:TAL) begins trading on the OTCQX Market

PetroTal Corp (TAL) has been upgraded from the Pink market to the OTCQX Best Market.

" Blue Sky (TSXV:BSI) signs agreement with EV Technology Group

Blue Sky Energy (BSI) has entered into a definitive agreement concerning the proposed business combination with EV Technology Group Inc.
The Market Herald Video

" Argentina Lithium (TSXV:LIT) options additional properties on Pocitos Salar

Argentina Lithium & Energy (LIT) is expanding its holdings at the Pocitos Salar, at the heart of Argentina’s world-renowned Lithium Triangle.
Suncor Energy Inc. - President & CEO, Mark Little

" Suncor Energy (TSX:SU) provides Q4 2021 safety and production update

Suncor Energy (SU) has provided an update on recent safety incidents and its fourth-quarter 2021 production.