Greka

Greka
Traded as Green Dragon Gas (LSE: GDG)
Greka Drilling (LSE: GDL)
Industry Oil and gas
Construction
Founded 1997
Key people
 Randeep Grewal (founder and owner)
Products Natural gas
Petroleum
Petroleum products
Asphalt
Website greka.com

The Greka Group is a privately held oil and gas conglomerate founded in 1997 by businessman and entrepreneur Randeep Grewal. Greka entities include London Stock Exchange-listed Green Dragon Gas and Greka Drilling, as well as Greka Engineering & Technology and Greka Integrated. Grewal currently serves as chairman and CEO of all of these companies.[1][2]

Technology

Greka has been a pioneer in the oil and gas industry in advancing the technique of horizontal drilling and the associated process of coalbed methane extraction, which provides an unconventional source of natural gas.[3][4] Greka Drilling developed the LiFaBriC (Lined Faulted Brittle Coal) proprietary drilling methodology "specifically designed for the complex geology experienced in China. The method – an adaptation of the horizontal drilling methods traditionally used for drilling in coal seam reservoirs - is not only extremely efficient but is also an environmentally friendly technique which removes the need for fracking programs."[5][6][7]

Operations

Green Dragon Gas
Traded as LSE: GDG
Headquarters Zhengzhou, China
Website greendragongas.com

Green Dragon Gas

Green Dragon Gas is "the largest independent producer and distributor of Coal Bed Methane in China."[8] Green Dragon's "LiFaBriC proprietary methodology allows gas to be extracted from China’s heavily faulted anthracite coal seams. It naturally desorbs the coal, with no need for fracking, producing a high quality gas which can be used as a replacement for conventional natural gas in pipeline networks or for power generation."[9]

Green Dragon produces its gas from eight operational blocks.[10] The company's first LiFaBriC well drilled in China has produced more than one billion cubic feet of gas since 2008.[11]

Green Dragon currently owns a network of eight retail CNG gas stations in China's Henan province in the vicinity of the city of Zhengzhou.[12]

Greka Drilling
Traded as LSE: GDL
Headquarters Zhengzhou, China
Website grekadrilling.com

Greka Drilling

Greka Drilling "is one of the largest independent and specialized unconventional gas drilling companies in China. The Company was established as a subsidiary of Green Dragon Gas in November 2007. On March 2011, Greka Drilling was demerged from Green Dragon Gas. At present, Greka Drilling has more than 700 technical and field employees."[13][14]

In December 2012, Greka Drilling "signed a contract to drill 100 wells in the Ordos basin for China’s state-run Sinopec."[15] In June 2013, China's largest state owned energy enterprise CNPC awarded Greka Drilling a contract for drilling services for the Anze coal bed methane project in Shanxi, China.[16][17]

In 2015, Greka Drilling "drilled more wells at a faster rate for oil and gas" than the year before and "enters 2016 with a positive outlook as it looks at expanding into new markets." Greka Drilling drilled 62 wells in 2015, a 38% increase year-on-year. Green Dragon Gas remained the company's leading customer.[10]

Since 2013, Greka Drilling has been drilling wells on behalf of Essar Oil in India. In February 2016, Greka Drilling "strengthened its relationship" with Essar with a new year-long contract worth approximately $8 million. Under the new contract, Greka Drilling "will supply two high quality semi-automated GD75 rigs for a period of one year, which will be used to drill vertical and directional wells." Greka Drilling's work with Essar has focused on the Raniganj block in West Bengal.[18]

Greka Engineering & Technology
Headquarters Zhengzhou, China
Website grekaengineering.com

Greka Engineering & Technology

Greka Engineering "is a service provider of engineering, procurement, construction and management (EPCM) for infrastructure projects in unconventional gas sector in China. Its EPCM business includes design, construction and management of gas gathering systems, pipeline construction, installation and maintenance of CNG compressing integrated production facilities, installation and commissioning of gas-fired power facilities and construction of CNG retail stations.... At present, the company has approximately 100 employees."[19]

Formerly the engineering business of Green Dragon Gas,[20] Greka Engineering demerged from the company in September 2013 to be listed on the London Stock Exchange sub-market AIM.[21] With Greka Engineering's admission to AIM, Grewal stated, "Following the successful demerger of Greka Drilling (AIM:GDL) in 2011, it has become increasingly clear that a similar opportunity existed for Green Dragon to demerge Greka Engineering – allowing Greka Engineering to take full advantage of the exciting opportunities offered by the rapidly growing unconventional gas market. In addition, this dividend provides Green Dragon’s shareholders with an opportunity to continue to grow with this niche business or monetise their investment, at their discretion."[22]

For 2015, Greka Engineering announced that it had expanded its infrastructure with the construction of 27 kilometres of gas-gathering pipelines and increased "both gas production and power generation." The company processed 40.0 million cubic metres of gas, a 27% increase year-on-year, and generated 17.2 million kilowatt hours of electricity.[23]

Greka Integrated
Headquarters Santa Maria, California
Website greka.com/us/html/front/index.html

Greka Integrated

Greka Integrated is an integrated energy company with operations in California based primarily out of Santa Maria.[24] The asphalt plant in Santa Maria "produces light naphtha, kerosene distillate, gas oils and numerous cut-back, paving and emulsion asphalt products."[25] Greka Integrated owns over one billion barrels of hydocarbons spread over approximately 13,000 acres. Greka's oil and gas interests in California are located on the central coast (Cat Canyon, Casmalia, Gato Ridige, Zaca, Los Flores), North Belridge, the Richfield East Dome Unit in Orange County, and the Rincon Oil Field, including artificial Rincon Island, in Ventura County.[26]

Stock market listings

CompanyStock exchangeStock symbol
Green Dragon GasLondon Stock Exchange (LSE)GDG
Greka DrillingLondon Stock Exchange (LSE)GDL

References

  1. ↑ "Randeep Grewal". Oil & Gas Council.
  2. ↑ "Board of Directors". Green Dragon Gas.
  3. ↑ "Greka enhances horizontal drilling with RMRS technology". Proactive Investors. 12 September 2012.
  4. ↑ "Greka Wins 30-Well Drilling Deal in China". Rigzone. 6 January 2015.
  5. ↑ "BIG PICTURE - Greka Drilling drives growth and diversity plans". Proactive Investors. 12 May 2015.
  6. ↑ "LiFaBriC Methodology". Greka Drilling.
  7. ↑ "Extraction methodology". Green Dragon Gas.
  8. ↑ "Homepage". Green Dragon Gas.
  9. ↑ "Coal bed methane". Green Dragon Gas.
  10. 1 2 "Greka Drills More Wells At Faster Rate In 2015, Eyes New Markets". Alliance News. 5 February 2016.
  11. ↑ "Green Dragon Celebrates Eighth Year Of Production From LiFaBriC Well". Alliance News. 21 March 2016.
  12. ↑ "Business review". Green Dragon Gas.
  13. ↑ "Overview". Greka Drilling.
  14. ↑ "China's Green Dragon to spin off Greka Drilling". Reuters. 16 February 2011.
  15. ↑ "Greka inks 100-well deal in China". Upstream. 11 December 2012.
  16. ↑ "Greka Drilling surges on second contract win with China's CNPC". Proactive Investors. 20 June 2013.
  17. ↑ "Greka pens new CNPC drill deal". Upstream. 20 June 2013.
  18. ↑ "Greka Strengthens Relationship With Essar In India With New Contract". Alliance News. 15 February 2016.
  19. ↑ "Our Company". Greka Engineering.
  20. ↑ "China shale beckons for Green Dragon Gas engineering spin-off". Reuters. 30 April 2013.
  21. ↑ "Greka Engineering and Technology drives green revolution in China". Daily Express. 30 September 2013.
  22. ↑ "Admission to AIM". Greka Engineering. 30 September 2013.
  23. ↑ "Greka Engineering Production Rises In 2015 As Infrastructure Expanded". Alliance News. 8 February 2016.
  24. ↑ "Homepage". Greka Integrated.
  25. ↑ "Refinery". Greka Integrated.
  26. ↑ "Oil & Gas Fields". Greka Integrated.

External links

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