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Gujarat Natural Resources’ arm announces new oil discovery in Mehsana

22 Sep 2014 Evaluate

Gujarat Natural Resources’ 100% arm - GNRL Oil & Gas (formerly known as Heramec) has intimated Government of India, about new oil discovery in Mehsana formation in newly drilled Well ND#1A in Dholasan field. Presently, the well is under production testing since the last 35 days to determine whether the discovery is of potential commercial interest.

The company holds 30% participating interest and is the operator for Dholasan field where 2 new wells ND#1A and SD#1A have been drilled. Gujarat State Petroleum Corporation (GSPC) holds balance 70% participating interest in this field.

Peers
Company Name CMP
ONGC 224.70
Oil India 448.70
Jindal Drilling&Inds 553.50
Deep Industries 721.60
Asian Energy Service 435.20
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