OIL Q3 FY26 Guidance vs Delivery (OIL Management Mirror)

Production Outlook & Targets

FY26 (Current Year): Management expects Q4 production to increase over Q3, aiming to surpass the prior year’s record of 3.4 MMT. This represents a stabilization following the Sep'25 Qtr, where guidance was lowered to 3.55–3.776 MMT due to operational disruptions, down from the initial Jun'25 Qtr target of 3.70 MMT.

FY27 Guidance: Current guidance is 3.8 MMT (conservative) to 4.0 MMT (aspirational) for crude oil, with total oil/gas production targeted at ~7.5 MMTOE. This aligns broadly with Jun'25 Qtr expectations (3.95 MMT Oil, 4.31 BCM Gas) but reflects a more ranged, conservative approach than earlier precise targets.

FY28 & Beyond: Targeting 4.0 MMT crude and ~8.5 MMTOE combined. Gas aspiration raised to 13 MMSCMD from 8 MMSCMD, contingent on feeder pipelines. Management also initiated a new medium-term drilling target of 100+ wells annually.

Drilling Activity: Raised full-year FY26 drilling target to 75+ wells (highest ever), surpassing the prior year's 61.