ONGC gains with overseas arm achieving significant discovery of oil in onshore well

Oil & Natural Gas Corporation Ltd. | Oil Exploration | Oil & Gas | BSE: 500312 | NSE: ONGC

07 Jan 2019 Evaluate

Oil & Natural Gas Corporation (ONGC) is currently trading at Rs. 146.95, up by 1.30 points or 0.89% from its previous closing of Rs. 145.65 on the BSE.

The scrip opened at Rs. 148.00 and has touched a high and low of Rs. 148.00 and Rs. 146.40 respectively.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 212.90 on 25-Jan-2018 and a 52 week low of Rs. 134.75 on 11-Dec-2018.

Last one week high and low of the scrip stood at Rs. 150.95 and Rs. 141.70 respectively. The current market cap of the company is Rs. 186916.07 crore.

The promoters holding in the company stood at 67.48%, while Institutions and Non-Institutions held 19.12% and 13.40% respectively.

Oil and Natural Gas Corporation’s (ONGC) wholly owned subsidiary and overseas arm ONGC Videsh (OVL) has achieved a significant discovery of oil in its onshore block CPO-5, Colombia, in Llanos Basin. OVL holds 70% stake in the block along with its Partner Petrodorado South America S.A. Sucursal (PDSA), Colombia (30%).

OVL had earlier discovered commercial oil of 40 API in LS-3 sands in the well Mariposa-1 in 2017, which is located 6.5 km from Indico-1, and the continuation of same play is confirmed in the recent well. The Company now plans to drill more exploratory wells to chase this important Cretaceous elastic corridor in immediate future. OVL gets on acquiring additional 3D Seismic data to map more drillable prospects in the other sectors of the block.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

ONGC Share Price

279.25 -4.70 (-1.66%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
ONGC	279.25
Oil India	454.40
Jindal Drilling&Inds	535.85
Deep Industries	457.70
Asian Energy Service	297.85
View more..

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