Deep Energy Resources Ltd

Deep Energy Resources Limited was originally incorporated on January 01, 1991 as a private limited company with the name Deep Roadways Private Limited. Thereafter, on May 2, 2002, the Company converted into public limited company and the name was changed to Deep Industries Limited. On 30 September 2020, the name of the Company was converted from Deep Industries Limited to Deep Energy Resources Limited.The Company is well diversified Oil Gas Company with business interest in Air and Gas compression, Drilling, Work over and Oil Gas Exploration and Production. The company is a pioneer in the service sector of oil and gas fields, mainly in Gas compression services. They also provide workover, Drilling Rig and allied services. The company is headquartered in Ahmedabad, Gujarat, primarily caters to ever increasing demand for Oil and Gas Field Services requirements.The company is Indias largest Gas Compression services provider and has expanded its Oil Field services to work over activities. From their Drilling to Dispensing plan, the company has also expanded their arms to Exploration and Production Business of Oil, Gas and Coal Bed Methane. They are providing value added Engineering Services to various Public Sector and Private Sector Undertakings in India.The company has four main lines of business, namely gas compression, work over rigs, marginal gas fields, and coalbed methane (CBM). In the gas compression business, the company owns, operates, and maintains a compressor fleet, with capabilities ranging from 100 horse power (HP) to 4000 HP. The company has three subsidiaries, namely Deep Energy LLC, USA, Deep Natural Resources Ltd and Prabha Energy Pvt Ltd.The Company is engaged in the business of exploration and production of Oil and Gas resources and Coal Bed Methane and related engineering solutions.In the year 1994, the company bagged contract to provide High Pressure Air Compressors on charter hire basis to ONGC, for its Ahmedabad project. In the year 1997, they bagged contract to provide Natural Gas Compressors on charter hire basis to ONGC, for its Mehsana project. In February 6, 1997, the company changed their name from Deep Roadways Pvt Ltd to Deep Industries Pvt Ltd. In the year 1998, the company bagged contract to provide Natural Gas Engine based power generation packages on charter hire basis. In the year 2001, they entered into Gas Compression Equipment Lease and Service Agreement with Hanover Asia Inc., USA for taking on lease Gas Compressors. In May 2, 2002, the company was converted into public limited company and the name was changed to Deep Industries Ltd.In the year 2004, the company entered into Sales Representation Agreement with Valerus Compression Services Limited Partnership, USA to act as Sales Representatives in the Asian Region. In the year 2005, they purchased 100 Ton Cardwell KB 500 S Axle Mobile Rig as a step towards becoming an integrated service provider to the Oil Gas Sector. Also, they received ISO 9001 2000 certification.In the year 2005, the company entered into memorandum of understanding with PT Indrillco Bakti, Jakarta, Indonesia for availing technical knowhow/ collaboration in connection with work over services for 30 to 200 Ton capacity Rigs. During the year 200607, the company came out with the initial public issue and their shares were listed on the Bombay Stock Exchange and National Stock Exchange with effect from September 25, 2006.During the year 200708, the company set up a company in USA, namely Deep Energy, LLC for exploration, production development of Oil Gas fields, which got operator ship license in USA. They received a contract for Gas Compression from Gujarat State petroleum Ltd valuing approximately of Rs 300.00 million for a period of five years. During the year, the company got additional contract for providing gas compression services to Gujarat State Petronet Ltd., wherein Company would be deploying 2 Gas Compressors. They also got work orders for hiring 4 Workover Rigs from ONGC GSPC Ltd. Also, they had bidded for contracts of 11 different kinds of rigs floated by ONGC Ltd. During the year 200809, the company entered into E P space through forward integration into gas production through CBM and Marginal fields. Also, they received one onshore block in recent NELP VII round by Government of India. The block SRONN2005/ I is situated in Chhattisgarh State.During the year 200910, the company set up two subsidiary companies, namely Deep Natural Resources Ltd for exploration, production development of crude oil, coal bed methane (CBM) and natural gas and Prabha Energy Pvt Ltd for generation of electrical power by conventional and nonconventional methods.The company has procured 13 new compressors during last two financial years and has successfully commenced five gas compression contracts in the financial year 200809 and 3 new gas compression contracts in the financial year 200910. The Company in 201516, completed PhaseI of the CBM contract by drilling 9 core holes and 5 production test wells. DIL acquired CBM reservoir parameters like coal thickness, gas content, permeability etc from the phaseI campaign and a fairway area was identified. A service contract for three Onshore Marginal Fields were awarded by Oil and Natural Gas Corporation Limited (ONGC), in April 2007 for further development, as a part of its Marginal Field Monetization Program. The Fields are part of the JaisalmerMari High basin containing 1.42 Billion Cubic Meter (BCM) of gas reserves, spread across 100 Km2 and are located in the state of Rajasthan approximately 100 kms in the north of Jaisalmer, close to the International border with Pakistan. DERL had carried out workover of all the gas wells and created surface facilities including laying of a 16 km long pipeline connecting wells from Ghotaru and Bankia. Gas collecting station at Bankia also constructed in 2012 having facilities for separation, purification and compression of natural gas. DERL has installed first of its kind Natural gas purification and drying unit for gas processing at the GCS.In 201920, the Oil and Gas Services Undertaking of the Company got demerged/ transferred into Deep CH4 Limited through the Scheme of Arrangements for Demerger and was made effective on 20.06.2020. In terms of the said Demerger, the name of the Company changed from DEEP INDUSTRIES LIMITED DEEP ENERGY RESOURCES LIMITED effect from 11th September, 2020.