Operational Update of Drilling Campaign_22.09.2025_As attached
GNRL · price
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Gujarat Natural Resources (GNRL) has completed its third development well, K13, in the Kanawara field, encountering a 20-meter oil-bearing zone at depths of 1,684 to 1,704 meters. The well was delayed by two months due to heavy monsoon conditions. The company plans hydraulic fracturing on K13, targeting commercial production by the first week of October 2025. From October onwards, GNRL will operate two drilling rigs simultaneously — one continuing in Kanawara and the other commencing a 3,000-meter deep well in its wholly owned North Kathana field. This marks a meaningful scale-up of drilling activity.
Positive for shareholders as the company doubles its drilling capacity and moves closer to commercial oil production, though the two-month monsoon delay is a minor setback. Investors should watch for production updates from K13 and progress on the North Kathana well to gauge near-term revenue potential.