Cairn India makes oil & gas discovery in Rajasthan

Cairn India - a unit of UK explorer Cairn Energy Plc - has made an oil and gas discovery near its existing field in Rajasthan, the company said in a filing to the Bombay Stock Exchange (BSE).

The discovery is located approximately 1.5 km east of the Raageshwari 1 well in the southern part of the Mangala, Aishwariya Raageshwari and Saraswati development area. The adjacent Raageshwari field is commercial and has an approved field development plan. The well was spudded on November 21 and reached total depth (TD) on November 24.

The open hole drill stem test flowed 40 degree API oil at a stabilised rate of 500 barrels of oil per day plus 0.4 mmscfd gas on 64/64" choke from a 4m Net pay interval in the Upper Thumbli Sand. In addition 1.4m of gas pay was identified in the Akli formation at 1 247.8m MDBRT (11 53.03m TVDSS).

Shares of Cairn India were trading up nearly 5.95 percent at Rs 162 from the rpevious day’s close at the BSE.