Antelopus Selan reports strong Q2 production growth, strategic updates

Selan Exploration Technology Limited, now Antelopus Selan Energy Limited, announced substantial progress in its Q2 FY26 operations. The company reported a significant increase in sales volumes, reaching 1,107 boepd in Q2 FY26, up from 1,063 boepd in Q1 FY26. Total income for Q2 FY26 stood at INR 57.45 million, compared to INR 53.56 million in Q1 FY26, demonstrating volume-driven growth and consistent EBITDA margins.

Strategic updates include the drilling of three new wells in Karjisan, with a fourth scheduled for December 2025. Duarmara well drilling and logging are complete, indicating hydrocarbon presence in TS1, TS2, and TS3 zones, with commercial sales expected in Q4 FY26. In Cambay, new well drilling is underway, and workovers on old intermittent oil producers are in progress. A new 10-well drilling campaign is planned for Bakrol, commencing in early Q4 FY26, while Dangeru continues stable production with plans for new wells in FY27.

Despite a year-on-year decline in revenues by approximately 19% due to lower blended oil and gas realizations and sales volumes, Selan maintained strong consistent EBITDA margins. Higher amortization costs, pre-extension of existing PSC life, significantly impacted profit after tax, which was INR 11.81 million in Q2 FY26. The company is actively working to de-bottleneck evacuation and infrastructure constraints, especially in Dangeru, to support future production enhancements.