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Who says small E&P players don't do well in India: HOEC shows the way
Mar 29: Who says small private E&P players cannot make good money in India
8Focus Energy is one example, with its developments in Rajasthan, and HOEC is another in Assam
8HOEC is currently a favorite of industry watchers.
8The immediate focus is on monetizing its gas field in Assam, improving the recovery factor in Cambay marginal fields and reviving PY3 via integration of PY1 and PY3 fields. The company is also focused on building a portfolio of marginal fields – it won bids for two fields in the recently concluded Discovered Small Fields (DSF) round 2016.
8The company has drilled and completed four wells so far, and approval to drill two more have come for its Assam block. HOEC is constructing a 12” pipeline. It is expected to be completed by June 2017, with gas transmission capacity of 40mmscfd.
8More importantly, the company has a debt-free balance sheet with Rs 204 crore of cash and equivalents
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