Hindustan Oil Exploration Company Ltd — earnings calls

Hindustan Oil Exploration reported standalone revenue of INR117.5 crores for Q1 FY27, recovering from a negative INR194 crores in the prior quarter that had been impacted by an HPCL sale reversal. Management described continued production challenges at the B-80 offshore field due to water cut, progress on the Kharsang field where production nearly doubled, and updates on the Dirok gas evacuation pipeline connectivity expected around December. Management also discussed the ongoing HPCL crude inventory dispute, capex plans for B-80 workovers and new wells, and funding through a mix of internal accruals and market debt.

Hindustan Oil Exploration Company reported negative revenue, EBITDA and PAT for FY26, impacted mainly by an HPCL crude sale that was invoiced and later reversed; standalone net sales for the year were Rs 274 crores. Management outlined production targets rising from current levels of about 1,500 barrels of oil equivalent per day to 10,000-11,000 barrels by mid-2027, 22,000 by 2028, and 32,000 by 2029, driven by drilling campaigns across B-80, B-15, PY-1, Dirok and Kharsang. The company also discussed ongoing efforts to resell the reversed HPCL crude to third-party buyers linked to Brent pricing, and pipeline evacuation constraints in Assam that limit current Dirok gas production.