Business Update7 Sept 2026, 09:33 am
Gujarat Natural Resources Resumes Drilling Campaign with 2 Rigs
AI Summary
Gujarat Natural Resources Ltd (GNRL) and its subsidiary GNRL Oil & Gas (I) Private Limited are recommencing their drilling campaign with two rigs deployed at different locations. This follows a monsoon-induced pause. The company aims to meet year-end targets by March 2027. Previously, GNRL drilled 5 wells, with 4 development wells now producing oil and gas. An appraisal well confirmed substantial reserves, leading to plans for further development wells. GNRL is also exploring new exploration and production assets globally and is in advanced negotiations for strategic acquisitions.
Key Highlights
- Drilling campaign resumes with two rigs for simultaneous operations.
- Four development wells are currently producing oil and gas.
- Appraisal well confirms substantial oil and gas reserves.
- New exploration and production assets are being pursued globally.
- Strategic acquisition opportunities are in advanced negotiation stages.
Price Impact
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