Key Developments: Greka Drilling Ltd (GDL.L)

GDL.L on London Stock Exchange

13.25GBp
17 Apr 2014
Price Change (% chg)

-0.75p (-5.26%)
Prev Close
14.25p
Open
13.75p
Day's High
13.75p
Day's Low
13.50p
Volume
453,670
Avg. Vol
1,055,221
52-wk High
28.00p
52-wk Low
9.36p

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Latest Key Developments (Source: Significant Developments)

Greka Drilling Ltd signed new contract
Wednesday, 9 Apr 2014 02:00am EDT 

Greka Drilling Ltd:Signed a new contract with Guangdong Bureau of Coal Geology (GBCG) for Greka Drilling's drilling services.Under the contract GBCG will provide several of the traditional services usually delivered by the drilling contractor - including casing services, logging services and cementing services.  Full Article

Greka Drilling Ltd announces well drilling contract in India
Monday, 16 Dec 2013 02:00am EST 

Greka Drilling Ltd:Says it has signed a contract with Essar Oil Limited (Essar) (the Contract) a listed Indian company.Says the company is to provide turnkey and allied services to Essar in India, and is contracted to drill 100 wells with the Contract value estimated at around $ 65 million.Says the Contract is expected to be completed by the end of 2014.  Full Article

Greka Drilling Ltd Inks Additional Contract With CNPC-DJ
Thursday, 20 Jun 2013 02:18am EDT 

Dow Jones reported that Greka Drilling Ltd said it has reached an additional agreement with China National Petroleum Corporation's Huabei Oilfield Company for Greka Drilling's drilling services. The Project entails drilling 110 wells during this year which will be drilled by CNPC self owned rigs and Greka Drilling. The planned wells will be vertical and directional. Greka Drilling has already completed its first well and is currently drilling the second.  Full Article

Greka Drilling Ltd To Pursue New Listing on Singapore Stock Exchange
Thursday, 9 May 2013 02:00am EDT 

Greka Drilling Ltd announced that its Board has decided to pursue a listing on the Main Board of the Singapore Stock Exchange in addition to its existing quotation on London's AIM market. The Company also announced that DBS Bank in Singapore has been appointed to advise in respect of the SGX listing.  Full Article

Greka Drilling Ltd Signs Drilling Contract With CNPC
Friday, 28 Dec 2012 07:00am EST 

Greka Drilling Ltd announced that it has signed a contract with China National Petroleum Corporation (CNPC)'s Huabei Oilfield Company (the Contract), for Greka's proven LiFaBriC drilling services. This initial contract is expected to be completed early in Q1 2013. CNPC is China's state owned energy enterprise and a controlling shareholder of PetroChina, amongst others. CNPC had previously focused their CBM drilling program using a combination of vertical fracked wells and multi-lateral horizontal wells provided by other service companies. Such traditional completions have failed to meet CNPC's production expectations. The initial contract involves drilling a LiFaBriC well. The previously announced Petro-king Sinopec contract will utilize 5 rigs, whilst this additional CNPC contract will utilize 2 rigs in the first instance. The wellwill be drilled in CNPC's Zhengzhuang Block in the Qinshui Basin. The Contract will be serviced from the Company's existing facilities in Shizhuang, Shanxi, also located in the Qinshui Basin.  Full Article

Greka Drilling Ltd Signs Contract To Drill 100 Wells In Sinopec's Ordos Basin
Tuesday, 11 Dec 2012 02:00am EST 

Greka Drilling Ltd announced that it has signed a contract with Petro-king Oilfield Technology Ltd. (Petro-king) (the Contract). This Contract is in addition to on-going contract with Green Dragon Gas, one of the coal bed methane producers in China. The 100 well drilling programme is due to commence immediately following the Chinese New Year in 2013. The initial Contract is for 100 wells to be drilled in 2013 for Sinopec. A Memorandum of Understanding (MOU) between Greka Drilling and Petro-king was entered into in June 2012, under which the parties agreed to promote each other's services. The MOU places Greka Drilling in an advantageous position to expand further into the unconventional resources market which is growing rapidly in China. The Contract is for an initial period of 12 months from 1 January 2013 and is renewable by mutual agreement. It includes customary rates for vertical and directional meters drilled, daily rig charges and standby charges.  Full Article

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