Oilex restarts operations in western India
Oilex, the oil exploration company with significant interests in India, says it has restarted operations at its Cambay field in the western state of Gujarat.
Oilex, the oil exploration company with significant interests in India, says it has restarted operations at its Cambay field in the western state of Gujarat.
Operations had been suspended since the end of August, when a milling assembly became stuck in the wellbore.
Since the restart pressure at the wellhead has increased to approximately 1200psi and drilling had to be stopped for the installation of a blow out preventer. The company claims this is a good sign for when the well is flow tested.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Oilex, which is based in Australia, has seen its shares drop 32% this year although today's news has seen it jump 6.78% since the open.
BS
-
Most profitable holiday rental locations in the UK
Looking to maximise your holiday rental profits? We reveal the best places in the UK to own a holiday let
By Oojal Dhanjal Published
-
Best-performing stocks in the S&P 500
We take a look at the best-performing stocks in the US equity market. Are there opportunities outside of Big Tech?
By Katie Williams Published