Antelopus Selan Energy

Antelopus Selan Energy Limited reported quarterly results showing average sales of 1,107 barrels of oil equivalent per day (boepd). The company brought three new wells on production at Karjisan field, with two wells starting production in mid-August and a third well beginning production in November. Total income reached INR 57.45 crores compared to INR 53.56 crores in the previous quarter, while net profit was INR 11.81 crores versus INR 11.22 crores in the prior quarter. Year-over-year revenues declined by approximately 19% due to lower blended price realizations (down 12.5%) and reduced sales volumes (down 12%). The company completed drilling and well logging at Duarmara field, indicating hydrocarbon presence in TS1, TS2, and TS3 zones, with commercial sales planned for Q4 FY26. A new 10-well drilling campaign at Cambay field is scheduled to commence in early Q4 FY26. The company maintains consistent EBITDA margins with an oil and gas product mix of approximately 80% oil and 20% gas by revenue.

Antelopus Selan Energy Limited acquired 1,99,62,358 equity shares through a Composite Scheme of Arrangement between Antelopus Energy Private Limited and Selan Exploration Technology Limited. The scheme was approved by the National Company Law Tribunal, Chandigarh Bench on June 10, 2025, became effective on July 5, 2025, with share allotment completed on August 12, 2025. The acquisition involved four entities: Ms. Payal Upadhyay, Mr. Suniti Kumar Bhat, Mr. Siva Kumar Pothepalli, and Blackbuck Energy Investments Limited. Their combined shareholding increased from 30.46% to 69.94% of the company's voting rights. The company's total equity share capital expanded from INR 15.20 crores to INR 35.16 crores following the transaction. All acquirers are now part of the promoter group post-scheme implementation.

Selan Exploration Technology Limited reported quarterly results showing production of 1,063 boepd compared to 1,177 boepd in the previous quarter and 1,099 boepd in the year-ago period. Total income declined to INR 53.56 crores from INR 64.96 crores in the previous quarter, while net profit decreased to INR 11.22 crores from INR 14.78 crores. The company completed its merger with Antelopus Energy Private Limited (AEPL), with the merged entity to be renamed 'Antelopus Selan Energy Limited.' Production commenced from the KG Basin 'Dangeru' field, marking expansion beyond the Cambay basin. The company completed drilling of 2 new wells in Karjisan with production expected to start by end of August, and announced acquisition of the remaining 50% participating interest in the Cambay Block. EBITDA margins remained consistent at 56% despite lower oil and gas prices, with the oil and gas product mix maintaining approximately 80% oil and 20% gas. The quarterly decline was attributed to a 10% drop in price realizations, natural decline in Bakrol wells after 15 months of consistent production, and key wells being offline due to operational reasons.