Shiv-Vani Oil & Gas Exploration Services Limited
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BSE Code:
522175
NSE Code:
SHIV-VANI
Business Profile
Business Profile
Shiv-Vani Universal (formerly Shiv-Vani Drilling) is a member of the International Association of Drilling Contractors (IADC). The company came out with a public issue in 1993 to finance the project for providing data acquisition and shot-hole drilling services. All its rigs are registered with this organization of global oil and gas industry and are getting certified for LTA (Lost time accidents) regularly. The company provides services to the oil and gas industry. It includes mud logging services, shot hole drilling services and seismic data acquisition services. Mud-logging involves monitoring deep-well drilling onshore and offshore. It provides on-line information on oil drilling to control the cost of operations. Data acquisition services are the first and foremost exercise to survey for oil location and pinpoint the exact location for oil well drilling. Shot-hole drilling activity preceeds data acquisition services.
Shiv-Vani is involved in the execution of several services to hydrocarbon industry. It is the only company, which owns the largest fleet of onshore rigs in India. The company has been focusing on expanding its offshore operations. Some of the projects the company has worked on include drilling services for integrated performance drilling contract along with mud engineering, mud logging, liner hanger setting and co-ordination of all related services. It involved drilling fiveexploratory wells with a total depth of more than 75,000 ft. Workover servicesincluded more than 1000 wells with rigs ranging from 200 HP to 1200 HP. It had workover capacities from 6,000 to 26,000 ft. Reservoir Data Acquisition involvedgathering basic reservoir data over a period of three years in the large and medium-sized oil fields. This was aimed to optimize reservoir management and raiseproduction efficiency.
Financials
Shiv-Vani Oil and Gas Exploration Services registered a 92.84% growth in net profits to Rs 91.85 million for the quarter ended in March, 2007, from a profit of Rs 47.63 million for the quarter ended in March, 2006Net Sales for the quarter rose 80.53% to Rs 628.05 million for the quarter ended March, 2007 from Rs 347.89 million for the quarter ended March, 2006.Total income rose 74.36% to Rs 651.75 million for the quarter ended March, 2007, from Rs 373.8 million for the quarter ended March, 2006.The earnings per share (EPS) of the company stood at Rs 2.75 in the quarter ended March, 2007.
Recent Developments
06-DEC-07
Global private equity major Citi Venture Capital (CVC) picked up nearly 7% stake in Shiv - Vani Oil and Gas Exploration Services for Rs 1 billion