GNRL Oil & Gas Ltd completes drilling campaign for its 3 wheels

GNRL Oil & Gas Limited (GOGL), Subsidiary of Gujarat Natural Resources Limited, has successfully completed the drilling campaign for its 3 (three) wells viz. K11, K14 and K15 at Kanwara oil fields. As a part of strategic move, the Company is planning to move the work over rig from Kanwara field to Dholasan and Allora fields for production enhancement.

Targeting potential intervals within the Mandhali sands for exploitation indicates a detailed and methodical approach to maximizing output.

Isolating water-bearing sands through cement squeeze and subsequently stimulating perforated intervals is a common but crucial procedure in the industry. The expected increase in production by 50 to 60 barrels per day, if successful, is a promising outcome and demonstrates the impact of these operations.

Moreover, beyond immediate production gains, this planned work is also laying the groundwork for the future development of the Mandhali sands in their respective areas. It's a comprehensive strategy that not only boosts current output but also sets the stage for sustained growth and development in the region.

Shares of Gujarat Natural Resources Limited was last trading in BSE at Rs. 19.05 as compared to the previous close of Rs. 15.89. The total number of shares traded during the day was 862542 in over 961 trades.

The stock hit an intraday high of Rs. 19.06 and intraday low of 15.01. The net turnover during the day was Rs. 15923685.00.

Source : Equity Bulls

Keywords

GujaratNaturalResources INE207H01018 GNRLOilandGas DrillingCampaign KanwaraOilFields