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BPCL gains as arm encounters encouraging results in Australian Shale Gas Block

05 Sep 2012 Evaluate

BPCL is currently trading at Rs. 350.75, up by 3.95 points or 1.14% from its previous closing of Rs. 346.80 on the BSE.

The scrip opened at Rs. 352.00 and has touched a high and low of Rs. 356.30 and Rs. 349.50 respectively. So far 26,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 394.60 on 12-Jul-2012 and a 52 week low of Rs. 229.53 on 05-Jan-2012.

Last one week high and low of the scrip stood at Rs. 356.30 and Rs. 329.90 respectively. The current market cap of the company is Rs. 25,362.00 crore.

The promoters holding in the company stood at 54.93% while Institutions and Non-Institutions held 27.97% and 17.10% respectively.

Bharat PetroResources (BPRL), a wholly owned subsidiary of Bharat Petroleum Corporation (BPCL), has informed that the Operator, Norwest Energy NL (Australia), has reported that the results of hydraulic fracturing and flow back from the well ‘Arrowsmith 2’ in the block EP413 in Perth basin, Australia are very encouraging.

The well was fractured in five zones and all the five zones showed presence of hydrocarbon. As a proof of concept well, ‘Arrowsmith 2’ has delivered positive results in all zones from the bottom of hole, upwards: Gas flows from the tight sands in the High Cliff Sandstone (zone 1), from the Ixwin River Coal Measures (zone 2), and the-lower and middle Carynginia shales (zones 3 & 4), culminating with both oil and gas flows in Kockatea shale (zone 5).

BPRL holds 27.803% participating interest (PI) in the block. The oilier JV partners in the block are Norwest Energy NL (Operator) with PI 27.945% and AWE (via subsidiary Arc Energy) with PI 44.252%.

The consortium will continue operations in the block based on the positive results from the well and carry out further evaluation including estimation of contingent reserves.

BPCL Share Price

312.05 4.05 (1.31%)
17-Apr-2026 16:59 View Price Chart
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