Here are some HOEC Briefs of interest to everyone – 9 Jun 2025

Kharsang’s 40-well clearance signals long-term oil uplift
8While only two wells are producing, HOEC has clearance for 40 development and 3 exploration wells in Arunachal—setting up a multi-year drilling campaign with potential reservoir upside.
B-15 could be HOEC’s dark horse in offshore gas
8Newly acquired and 100% owned, B-15 comes with two ONGC discoveries and complete seismic data. Shallow waters mean lower capex, and a production start is targeted within 30 months.
PY-1 gas gets a 2x price bump as HOEC signs new term sheet
8The old US dollar 3.66 per mmbtu price is gone. A fresh term sheet with GAIL offers US dollar 6.75 on gross calorific value—pending a green light from PetroVietnam by June-end.
390,000 barrels in storage, and HOEC isn’t in a hurry to sell
8With crude prices underwhelming, HOEC is holding back nearly 400,000 barrels from B-80—waiting for the US dollar 75 mark. With capacity to store 900,000 barrels, the clock isn’t ticking yet.
Dirok’s forest pipeline nears finish line—gas grid could flip the field
8The 15-km stretch through forest terrain is done. Once the North-East Gas Grid links up in FY26, Dirok’s latent capacity—up to 55 mmscfd—can finally find buyers across India.
B-80 workovers to halt production for a month, but more oil may follow
8HOEC is planning tubing replacements and zone shifts in B-80’s two offshore wells. A 30-day pause is expected, but the target is higher, more stable flow post-restart.
HOEC rewrites B-80 revenue model to ensure survival
8The company has scrapped day-rate infra charges in favor of per-barrel pricing—keeping its FPSO, MOPU, and SPM alive during low production. It’s about sustaining the ecosystem, not padding topline.
HOEC quietly imposes debt ceiling tied to market cap
8Even as drilling and infra work picks up, HOEC says it won’t borrow more than 10% of its market value. That caps future debt around Rs 200–250 crore, adding a fiscal discipline layer.
HOEC holds 21% in PY-3 but gets nothing—arbitration may change that
8ONGC resumed production from PY-3, but HOEC, despite its 21% stake, isn’t getting returns. A legal battle is underway—and a favorable ruling could bring retroactive payouts.
One-time gains cushion Q4 profit as volumes stay weak
8Rs 46 crore in unpaid interest from AEPL and Rs 76 crore in other income bolstered HOEC’s bottom line this quarter. But it’s not from operations—production remains subdued.