Oil India Ltd. (OIL) has made another oil discovery in the Upper Assam Basin in northeast India, according to a news release.
The company said on June 6 that its South Baghjan-2 well, located in the Baghjan Petroleum Mining Lease, encountered multiple sands in Narpuh and Lakadong+Therria formations. On testing, a 15-m sand at a depth of 4,154 m produced oil at a rate of 100 cubic meters per day, the company said in a news release.
“Presently, the well is put on regular production. Further appraisal of the discovery is planned which is likely to enhance the oil and gas production through appraisal and development activities,” OIL said.
During 2016-2017, OIL said it has made 10 discoveries in the Assam Basin, opening avenues for further exploration of identified leads and prospects in the area.
Recommended Reading
The Private Equity Puzzle: Rebuilding Portfolios After M&A Craze
2025-01-28 - In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
Artificial Lift Firm Flowco’s Stock Surges 23% in First-Day Trading
2025-01-22 - Shares for artificial lift specialist Flowco Holdings spiked 23% in their first day of trading. Flowco CEO Joe Bob Edwards told Hart Energy that the durability of artificial lift and production optimization stands out in the OFS space.
Artificial Lift Firm Flowco Seeks ~$2B Valuation with IPO
2025-01-07 - U.S. artificial lift services provider Flowco Holdings is planning an IPO that could value the company at about $2 billion, according to regulatory filings.
Not Sweating DeepSeek: Exxon, Chevron Plow Ahead on Data Center Power
2025-02-02 - The launch of the energy-efficient DeepSeek chatbot roiled tech and power markets in late January. But supermajors Exxon Mobil and Chevron continue to field intense demand for data-center power supply, driven by AI technology customers.
Oilfield Services Firm Flowco Files IPO Paperwork
2024-12-09 - Oilfield services provider Flowco filed paperwork for an IPO, one of several energy-focused players seeking to test the public markets.