Hindustan Oil Exploration Company shines on securing new block in Mumbai Offshore
Hindustan Oil Exploration Company is currently trading at Rs. 178.20, up by 2.70 points or 1.54% from its previous closing of Rs. 175.50 on the BSE.
The scrip opened at Rs. 177.00 and has touched a high and low of Rs. 178.95 and Rs. 176.75 respectively. So far 5970 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 293.60 on 02-Aug-2024 and a 52 week low of Rs. 145.05 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 178.45 and Rs. 162.30 respectively. The current market cap of the company is Rs. 2352.61 crore.
The Institutions and Non-Institutions held 1.72% and 98.28% stake respectively in the company.
Hindustan Oil Exploration Company (HOEC) has been awarded a contract area MB/OSDSF/B15/2024 under the Special Discovered Small Fields Bid Round 2024. Block MB/OSDSF/B15/2024 spans over 332.4 square kilometre area in the Mumbai Offshore region at a water depth of about 40 meters, encapsulating two discoveries B-15A-1 and B-15-2, with potential for further exploration. A total of 6 wells have been drilled in this contract area. Well B-15A-1 tested approximately 1.66 million standard cubic feet per day (mmscfd) of gas and 1833 barrels of oil per day (bopd) and Well B-15-2 tested around 1151 barrels of oil and 0.91 mmscfd of gas from the Panna formation. The company is the Operator of this Block with 100% Participating Interest.
This new addition of Block MB/OSDSF/B15/2024 complements HOEC's existing BlockMB/OSDSF/B80/2016 in Mumbai Offshore, expanding the company's total acreage to over 800 square kilometres. This growth in reserves and resources strengthens the company's position as a meaningful independent oil company in the industry.
Hindustan Oil Exploration Company is engaged in the exploration, development and production of crude oil and natural gas in India, both onshore and offshore.
