Reliance Industries falls on KG D6 reserve estimate
Niko holds a 10% stake in the D6 block. Reliance holds 60%, while BP Plc has a 30% stake
Reliance Industries shares extended falls on Thursday after Canada's Niko Resources sharply cut the reserves estimate at the KG D6 gas blocks, off India's east coast, where the two companies are partners.
Reliance shares fell 3.2% to Rs 714.15.
The Canadian oil and gas producer late Wednesday estimated that total proved plus probable reserves at the KG D6 block, as of March 31, had decreased to 1.93 trillion cubic feet.
The block had been estimated to hold more than 9 trillion cubic feet (tcf) of gas.
Niko holds a 10% stake in the D6 block. Reliance holds 60%, while BP Plc has a 30% stake.