Mari Energies Limited on Thursday announced a third discovery of gas and condensate at its Spinwam-1 exploration well in the Waziristan Block, Khyber Pakhtunkhwa.
The company said the discovery was made in the Hangu Formation, with the well flowing 23.85 million standard cubic feet per day (MMSCFD) of gas and around 122 barrels per day of condensate at a 32/64″ choke.
The reported Well Head Flowing Pressure stood at 4,042 psig.
This is the third hydrocarbon discovery at the same well, following earlier finds in the Kawagarh Formation. Further testing of additional formations is underway to assess the complete potential of the well.
Mari Energies holds a 55 percent working interest in the Waziristan Block and operates it in partnership with Oil and Gas Development Company Limited and Orient Petroleum Inc., which hold 35 percent and 10 percent stakes respectively.
Following the announcement of a third gas and condensate discovery at the Spinwam-1 well, Mari Energies Limited’s stock price rose by Rs.7.04, or 1.03%, to reach Rs.691.20 as of 11:14 AM on Thursday, April 3, 2025.