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After a 2-year break, RIL resumes drilling in Chevron shale joint venture
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New Delhi, Oct. 19 -- Two years after Reliance Industries Limited (RIL) adopted a zero drilling strategy to conserve cash, the company has resumed drilling in its shale gas joint venture with Chevron.
"Development momentum continued at both Chevron and Ensign joint ventures. In Chevron joint venture, eight wells were drilled during the quarter. Six new wells were also put on production, which is the first set of wells to be turned-in-line after a two-year hiatus," RIL said in its earnings press statement released on Friday.
RIL said overall production was 11% higher at 19.9 billion cubic feet equivalent (bcfe). New volumes during the second half of the quarter mitigated the natural decline of wells across both the joint ventures. Produc...
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