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Oil India trades in green on the BSE

05 Oct 2012 Evaluate

Oil India is currently trading at Rs. 488.85, up by 1.65 points or 0.34% from its previous closing of Rs. 486.85 on the BSE.

The scrip opened at Rs. 487.00 and has touched a high and low of Rs. 492.00 and Rs. 481.00 respectively. So far 6304 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 552.40 on 13-Feb-2012 and a 52 week low of Rs. 431.00 on 16-May-2012.

Last one week high and low of the scrip stood at Rs. 493.80 and Rs. 476.70 respectively. The current market cap of the company is Rs. 29335.43 crore.

The promoters holding in the company stood at 78.43% while Institutions and Non-Institutions held 6.78% and 14.78% respectively. 

Oil India (OIL) and Indian Oil Corporation (IOCL) have jointly acquired stakes in Carrizo Oil & Gas Inc's (Carrizo) liquid rich shale assets in the Denver-Julesburg Basinin Colorado. This is OIL and IOCL's first shale acquisition in the United States.

Through their wholly-owned US subsidiaries, OIL and IOCL executed definitive agreements with Carrizo, a NASDAQ listed company based in Houston, Texas whereby they have acquired 30% of Carrizo's interest in approximately 60,000 net acres where the partners will target development of the Niobrara shale.

As part of the transaction, OIL and lOCL will also receive a 30% interest in Carrizo's existing production, of approximately 1850 ROEI day from 24 gross wells. The total consideration is $82.5 million consisting of an upfront cash payment of $41.25 million and the assumption of $41.25 million of Carrizo's future drilling and development costs.

The investment provides an early entry into a prolific unconventional oil play. The D-J Basin is a well known producing basin where many US E&P companies are successfully developing the Niobrara formation. The transaction also provides a platform to the companies for additional acquisitions in North America.

OIL and IOCL have formed 100% wholly owned subsidiaries in Texas, USA in the name of Oil India (USA) Inc and IOCL (USA) Inc respectively. BMO Capital Markets acted as exclusive financial advisor to Oil India. Thompson & Knight LLP acted as legal counsel, while Ernst & Young and Halliburton acted as tax and accounting and technical due diligence consultants, respectively.

 

Oil India Share Price

463.10 -14.30 (-3.00%)
15-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 287.55
Oil India 463.10
Jindal Drilling&Inds 543.30
Deep Industries 490.25
Asian Energy Service 299.15
View more..

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