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Reliance climbs on plans to sub-lease ultra-deepwater rig for another year

Reliance Industries Ltd. | Refineries | Oil & Gas | BSE: 500325 | NSE: RELIANCE

19 Dec 2011 Evaluate

Reliance Industries is currently trading at Rs. 728.80, up by 5.80 points or 0.80% from its previous closing of Rs. 723.00 on the BSE.

The scrip opened at Rs. 719.90 and has touched a high and low of Rs. 732.50 and Rs. 715.40 respectively. So far 426756 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1090.00 on 05-Jan-2011 and a 52 week low of Rs. 713.55 on 26-Aug-2011.

Last one week high and low of the scrip stood at Rs. 763.70 and Rs. 715.40 respectively. The current market cap of the company is Rs. 236755.35 crore.

The promoters holding in the company stood at 44.71% while Institutions and Non-Institutions held 28.39% and 23.38% respectively.

Reliance Industries’ (RIL) is looking to sub-lease its only ultra-deepwater rig for another year, as the current logjam over its investments in KG-D6 Block may further delay drilling of new wells. Beginning March 2010, RIL had hired the ultra-deepwater drillship - Dhirubhai Deepwater KG-2 - for a 5-year period from the world’s largest deepwater rig owner Transocean.

RIL had then sub-leased the drillship to Malaysian national oil company Petronas until the end of 2011. Due to delayed government approvals, the company is going to miss the next drilling window. As the cost of hiring is too high, the company has decided to again sub-lease the Transocean drillship.

Recently, RIL’s gas output from its eastern offshore KG-D6 gas fields had dropped to a fresh all-time low of 39.80 million standard cubic meters per day. Reliance holds 60 percent interest in KG-D6, while UK's BP Plc holds 30 percent and Niko Resources of Canada holds the remaining 10 percent.

Reliance Industries Share Price

1365.10 21.65 (1.61%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1365.10
Indian Oil Corp.	145.85
BPCL	312.05
HPCL	370.95
MRPL	183.20
View more..

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Reliance climbs on plans to sub-lease ultra-deepwater rig for another year

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