Hindustan Oil Exploration Company is currently trading at Rs. 143.75, up by 4.60 points or 3.31% from its previous closing of Rs. 139.15 on the BSE.
The scrip opened at Rs. 142.00 and has touched a high and low of Rs. 145.75 and Rs. 142.00 respectively. So far 35179 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 245.15 on 18-Jan-2022 and a 52 week low of Rs. 125.70 on 28-Sep-2022.
Last one week high and low of the scrip stood at Rs. 145.75 and Rs. 137.50 respectively. The current market cap of the company is Rs. 1901.00 crore.
The Institutions and Non-Institutions held 3.67% and 96.33% stake in the company.
Hindustan Oil Exploration Company has resumed oil production from D-1 well in its B-80 field, located in western offshore, after arresting a leak in the SCSSV control line.
Due to the aforesaid issue, the well D1 was shut down and now brought on to production after the pumping of a sealant and opening the SCSSV isolation valve on the subsea tree.
Currently both the wells are on production, and the flow rate of oil and gas of both D1 and D2 wells are about 1800 BOPD and about 9 MMSCFPD of gas, lesser than the capacity of the wells.
Production is being restricted due to capacity limitation of the test separator through which the fluids are flowed now, since the High-Pressure Separator is under repair.
Work on the High-Pressure Separator is in progress under the supervision of M/s. Expro, who is the supplier as well the O&M contractor.
Once the High-Pressure Separator is online, the production from the wells will be ramped up to its intended capacity.
Hindustan Oil Exploration Company (HOEC) is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore.