Cairn India is trading higher by 1.7% to Rs 357 after reporting 11% year on year growth in oil and gas production to 20.20 million barrels of oil equivalent during fourth quarter of 2013-2014.
“In Q4 FY2014, average gross operated production and working interest production were 11% and 13% higher at 224,429 barrels of oil equivalent per day (boepd) and 142,796 boepd, respectively, driven primarily by the production ramp-up at Rajasthan”, Cairn India said in a statement.
In Rajasthan, infill drilling continues across all major fields and has driven a 13% increase in the production rate to 190,881 boepd, it added.
The stock opened at Rs 350 and touched a high of Rs 359, also its highest level since September 2012 on the NSE. A combined 2.38 million shares changed hands on the counter till noon deals on the BSE and NSE.
“In Q4 FY2014, average gross operated production and working interest production were 11% and 13% higher at 224,429 barrels of oil equivalent per day (boepd) and 142,796 boepd, respectively, driven primarily by the production ramp-up at Rajasthan”, Cairn India said in a statement.
In Rajasthan, infill drilling continues across all major fields and has driven a 13% increase in the production rate to 190,881 boepd, it added.
The stock opened at Rs 350 and touched a high of Rs 359, also its highest level since September 2012 on the NSE. A combined 2.38 million shares changed hands on the counter till noon deals on the BSE and NSE.