Cairn India rises post production output data for Q3
DSIJ Intelligence / 16 Jan 2017
Anil Agarwal controlled oil and gas exploration major Cairn India in an exchange filing made with the BSE informed of production data for quarter ending December 31. The daily average production saw a decline of 7 per cent during the quarter.
Anil Agarwal controlled oil and gas exploration major Cairn India in an exchange filing made with the BSE informed of production data for quarter ending December 31. The daily average production saw a decline of 7 per cent during the quarter.
For Q3 FY2017, the average gross production across assets remained at 181,818 barrels of oil equivalent per day (boepd). As expected, the production was lower primarily due to planned maintenance shutdown in Rajasthan and natural decline in offshore assets.
The gross production from Rajasthan block averaged at 154,272 boepd for the quarter. Rajasthan production was lower mainly due to the planned maintenance shutdown at the Mangala Processing Terminal, which will help maintain asset integrity and improve the plant performance.
The gas production was lower at an average of 21 mmscfd in Q3 FY2017, as compared to 33 mmscfd in Q2 FY2017. Gas sales also declined quarter-on-quarter to 4 mmscfd from 17 mmscfd. The sales have been temporary suspended due to a technical issue between the gas transporter and the buyers.
The stock of Cairn India closed with gains of close to 1.5 per cent at Rs 268.05 on the NSE.
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