Hindustan Oil Exploration Company Limited updates on Dirok block

Hindustan Oil Exploration Company Limited has announced that during a workover in Block AAP-ON-94/1 (Dirok), an untested sand interval - Sand-9, which was tested today in Well Dirok-1, successfully flowed gas.

During the test, the initial flow rate with a half an inch choke flowed over 6 million standard cubic feet of gas per day. Further, production testing is in progress. This successful test of Sand-9 would add an additional volume to the proven reserves category of the Dirok field.

Re-estimation of the reserves in Sand-9 would be carried out after due completion of the production test. HOEC holds 26.882% participating interest and is the Operator of the Block, with Oil India Limited and Indian Oil Corporation Ltd. as JV partners to the Production Sharing Contract executed with the Government of India.

Shares of Hindustan Oil Exploration Company Limited was last trading in BSE at Rs. 236.55 as compared to the previous close of Rs. 230.85. The total number of shares traded during the day was 250235 in over 3254 trades.

The stock hit an intraday high of Rs. 242.00 and intraday low of 231.10. The net turnover during the day was Rs. 59436941.00.

Source : Equity Bulls

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HindustanOilExplorationCompany INE345A01011 Gas Updates Dirok1