Indian CBM Players GEECL Reports 10% Rise in Output

Indian coal bed methane company Great Eastern Energy Corporation Limited (GEECL) has announced a 10 percent rise in output to 12.81 mmscfd in fiscal year ended March 31, 2015.

Total revenue increased by 9 percent to $37.46 million while average daily gas sales valume has gone up by 12 percent to 10.23 mmscfd.

A total of 156 wells have been drilled, which provides a substantial base for production growth, as they continue to dewater and are further optimised, GEECL said Tuesday.

The company stated that a further 144 wells planned are to be drilled on its flagship Raniganj (South) block.

Raniganj (South) block is located in eastern Indian state of West Bengal and covers an area of 210 sq. km, with 2.62 TCF of Gas-in-Place. The company's second asset is the Mannargudi license situated in the state of Tamil Nadu in India, which covers an area of 667 sq. km and 0.98 Tcf Gas-in-Place.