Greka Drilling Limited 50th Well Completed in India (0226Y)
2017年2月28日 - 4:02PM
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RNS Number : 0226Y
Greka Drilling Limited
28 February 2017
28 February 2017
Greka Drilling Limited
("Greka Drilling" or the "Company")
50(th) Well Completed in India
Greka Drilling Limited (AIM: GDL), the largest independent and
specialized unconventional oil & gas driller in Asia, is
delighted to announce that it has completed the drilling of its
50(th) Coal Bed Methane ("CBM") well for Essar Oil Limited
("Essar") in the Raniganj block, West Bengal with a total of 59,898
meters drilled.
Under the current contract awarded by Essar at the beginning of
2016, Greka has successfully drilled 33 directional wells and 1
vertical well. The first GD-75 rig spudded its first well in May
2016 followed by the second GD-75 rig which spudded its first well
in June 2016. These wells, combined with the 16 wells drilled by
Greka in its previous campaign, take the tally to the 50 well
milestone achieved with zero Lost Time Injuries/Accidents,
demonstrating the Company's commitment to making the workplace
safer.
Over the last nine months the Company has drilled 39,724 meters
with continuous drilling on-going assisting Essar's drilling needs
in the Raniganj block. Essar continues to be the largest producer
of CBM in India and Greka Drilling the largest CBM driller.
Randeep S. Grewal, Chairman & CEO of Greka Drilling,
commented:
"The completion of our 50(th) well in India for Essar, and
drilling close to 60,000 meters, is a momentous occasion for Greka
Drilling which has reaffirmed its position as a market leader in
Coal Bed Methane drilling. We look forward to developing CBM
resources across India by offering services to the market-leading
oil and gas operators in the coming months. Development of
unconventional gas resources has become an important value
proposition for operators pursuing alternatives to oil, as they
strive to provide energy security to a fast developing country like
India."
For further information on Greka Drilling, please refer to the
Company's website at www.grekadrilling.com or contact:
Sarah Lowther
Media Relations +44 (0)20 7016
Greka Drilling 9829
Dr Azhic Basirov / David Jones
/ Ben Jeynes
Nominated Adviser +44 (0)20 7131
Smith & Williamson 4000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 28, 2017 02:02 ET (07:02 GMT)
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