Reliance has failure in getting enough gas in KG-D6 well , hardy is out. Now company says that it will drill three more wells in the Krishna Godavari basin block where the first exploratory well was abandoned due to poor gas find, as per reports in Business Standard.
Drilling is an expensive operation and cost thousands of crores any miss in drilling could cost company a big fortune. It needs to be seen how it plays out for Reliance Industries Ltd this time.
Company stocks are not expected to outperform even though OIL prices are flirting with $81.