GEECL Sees Rise in Output

India focused coal bed methane player, Great Eastern Energy Corporation Limited (GEECL) has announced Thursday a 18% increase in its gross production to 20.40 mmscfd at Raniganj South block, compared with gross production rate announced on 10 June 2013.

As announced on 10 June 2013, 17 wells are already producing gas in the southern bank of Raniganj South block. Further two core wells have been drilled in the last year on the southern bank, which have re-confirmed the gas content and producibility.

Production from the north side of the block has met with expectations, the company said.

In the light of the increasing production trend and the company becoming profitable, GEECL may consider announcing a dividend in the coming years subject to various factors.