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HOEC gains on commencing first commercial gas sale from Dirok gas field in Assam

23 Nov 2017 Evaluate

Hindustan Oil Exploration Company (HOEC) is currently trading at Rs. 122.65, up by 1.20 points or 0.99% from its previous closing of Rs. 121.45 on the BSE.

The scrip opened at Rs. 122.60 and has touched a high and low of Rs. 124.25 and Rs. 122.25 respectively. So far 134285 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 134.50 on 15-Nov-2017 and a 52 week low of Rs. 51.65 on 23-Nov-2016.

Last one week high and low of the scrip stood at Rs. 128.75 and Rs. 119.10 respectively. The current market cap of the company is Rs. 1608.98 crore.

The institutions and non-institutions held 6.27% and 93.72% stake in the company, respectively.

HOEC has commenced the first commercial gas sale from Dirok gas field in Assam. HOEC, on behalf of its joint venture with Oil India and Indian Oil Corporation, is developing facilities at Dirok field that can handle 36 million standard cubic feet of gas per day and over 1,000 barrels of condensate per day.

The company, during its recent annual general meeting, had said the first gas sale from the field in Tinsukia district commenced from August 25, and that the project has been completed within 27 months on fast-track mode with due approval of appropriate authorities.

The company is planning to ramp up production to full capacity over the next six months. At full capacity, the Dirok field will contribute over 12 per cent of the total gas produced in Assam, which will help fulfil more than 50 per cent of the current gas shortage in the state.

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
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