Operational Update of Drilling Campaign by Company & its Subsidiaries_08.08.2025_As attached
GNRL · price
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Gujarat Natural Resources Ltd (GNRL) and its step-down subsidiary GNRL Oil & Gas Ltd have wrapped up drilling of two wells, which are now producing oil commercially. Combined field output stands at roughly 400 barrels of oil equivalent (BoE) per day. After a short monsoon pause, work on the third well has restarted and the drill has hit 730 metres, with completion expected by 20 August 2025. A fourth well in the Kanawara field will follow. The company has also booked a higher-capacity rig to drill a 3,000-metre well at its fully-owned North Kathana field, with operations scheduled to begin in the last week of August 2025.
This is a positive operational update showing progress in GNRL's drilling campaign and movement towards higher production from new wells, which could support future revenue growth. However, the 400 BoE/day output is still modest, so investors should watch the North Kathana well's results and the completion timeline of the remaining wells for confirmation of scale.