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HOEC soars on bagging two contract areas from GoI

16 Feb 2017 Evaluate

Hindustan Oil Exploration Company (HOEC) is currently trading at Rs. 76.60, up by 2.65 points or 3.58% from its previous closing of Rs. 73.95 on the BSE.

The scrip opened at Rs. 74.90 and has touched a high and low of Rs. 78.90 and Rs. 74.60 respectively. So far 632699 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 78.90 on 16-Feb-2017 and a 52 week low of Rs. 26.55 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 78.90 and Rs. 68.80 respectively. The current market cap of the company is Rs. 1022.41 crore.

The institutions and non-institutions held 5.92% and 94.07% stake in the company, respectively.

HOEC has bagged two contract areas in consortia with Oil India (OIL), Prize Petroleum and other private company by the Government of India (GoI) in the recently concluded bidding for Discovered Small Field Bids Round (DSF 2016).

One of the contract area is offshore field B-80, located in the Mumbai Offshore about 56 square kilometer discovered by ONGC in 1997. This discovered field produced about 3,737 barrels of oil and 7.5 million cubic feet of gas per day during the testing with in place reserves of about 13.20 million barrels of oil and gas in place of 10.50 billion cubic feet.

The other contract area is onshore field Kherem located in Arunachal Pradesh, discovered by Oil India in 1994 with the area of 16.45 square kilo meter, with initial oil in place of about 3 million barrels and gas in place of about 17 billion cubic feet.

HOEC has 50% participating interest in the offshore field B-80 and 40% in the onshore field Kherem. HOEC is the operator for both the fields.

Hind Oil Exploration Share Price

149.30 -5.40 (-3.49%)
24-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 284.75
Oil India 473.95
Jindal Drilling&Inds 538.20
Deep Industries 495.60
Asian Energy Service 308.30
View more..

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