Great Eastern Energy Corporation

What Great Eastern Energy Corporation does

Great Eastern Energy Corporation Ltd. (GEECL) is a fully integrated unconventional gas producer founded in 1992 by Yogendra Kumar Modi and headquartered in Gurugram, with operations centered on the Raniganj (South) block in West Bengal, India. The company specializes in Coal Bed Methane (CBM) exploration and production, becoming the first company to commercially market CBM in India in 2007. Its core asset spans 210 sq. km with 10.62 TCF of estimated Original-Gas-in-Place (2.62 TCF CBM and 8.00 TCF shale gas following a 2022 lease amendment). GEECL has drilled 156 wells using deviated drilling technology and a 5-well cluster pattern, with plans for approximately 650 additional wells and a $2 billion shale gas development program.

GEECL operates across the full gas value chain: upstream CBM and shale extraction, midstream infrastructure including Gas Gathering Station (GGS), Central Gathering Station (CGS), and a 77.62 km dedicated MDPE and steel pipeline network running through the Asansol-Durgapur industrial belt, and downstream CNG supply through franchise agreements with Indian Oil Corporation (signed 2007) and Bharat Petroleum Corporation (signed 2010). Revenue is generated from natural gas sales to industrial customers in a single West Bengal industrial cluster and from CNG franchise volumes channeled through the two state-owned OMC partners. Pricing follows India's regulated natural gas framework and is not publicly disclosed.

The company is founder-controlled under the Y.K. Modi Group, with Prashant Modi designated Vice Chairman & Managing Director in March 2025. GEECL listed GDRs on the London Stock Exchange (AIM in 2005, Main Market in 2010) and was the first Indian company on AIM; GDRs were delisted on April 21, 2023 and now trade on the unlisted JP Jenkins platform. The company divested from its second asset, the Mannargudi block in Tamil Nadu, following arbitration. Headcount is 101-250 employees.

Name

Great Eastern Energy Corporation

Legal name

Great Eastern Energy Corporation Ltd.

Website

https://geecl.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

101–250 employees

Short description

Great Eastern Energy Corporation (GEECL) is an Indian upstream-to-downstream unconventional gas producer operating the Raniganj (South) CBM and shale block in West Bengal, supplying natural gas to industrial customers and CNG through franchise deals with Indian Oil and BPCL.

Ownership category

akta.pro rank

Product category

Coal Bed Methane (CBM) Exploration and Production

NAICS

Natural Gas Extraction (211130), Pipeline Transportation of Natural Gas (4862)

SIC

Crude Petroleum & Natural Gas (1311), Natural Gas Transmission (4922), Natural Gas Transmisison & Distribution (4923)

akta.pro primary industry

Coalbed Methane (CBM) / Coal Seam Gas (CSG) (EUAAAAAD)

akta.pro secondary industries

Unconventional Gas E&P (Shale/Tight Gas) (EUAAAAAC), Coalbed Methane (CBM) Gathering Systems (TLAGAJAG)

Keywords

• Coal bed methane production
• Shale gas exploration
• Natural gas extraction
• Unconventional gas E&P
• CNG supply operations

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Natural Gas/CBM Sales: Revenue generated from production and sale of Coal Bed Methane (CBM) and shale gas to industrial customers. Gas is supplied through dedicated pipeline infrastructure to industrial clients in the Asansol-Durgapur region of West Bengal.
2. CNG Franchise Revenue: Revenue through franchise agreements with Indian Oil Corporation Limited and Bharat Petroleum Corporation Limited to supply CNG (Compressed Natural Gas) through their retail networks.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

GEECL is a fully integrated unconventional gas company that explores, produces, and markets Coal Bed Methane (CBM) from the Raniganj (South) block in West Bengal, with 156 wells drilled against a planned 650 and 10.62 TCF of Original-Gas-in-Place. It sells extracted natural gas through a dedicated 77.62 km pipeline network to industrial customers in the Asansol-Durgapur industrial belt, and supplies Compressed Natural Gas (CNG) downstream through franchise agreements with Indian Oil Corporation and Bharat Petroleum Corporation. It is also positioned to commence shale gas exploration in the same block with a planned investment of up to $2 billion.

Product overview

Great Eastern Energy Corporation Ltd. (GEECL) is a fully integrated energy company focused on unconventional hydrocarbon exploration and production. The company operates upstream CBM and shale gas extraction in the Raniganj (South) block in West Bengal, supported by midstream gas gathering stations and pipeline infrastructure spanning 77.62 km through the Asansol-Durgapur industrial belt. Downstream operations include CNG supply through franchise partnerships with Indian Oil Corporation and Bharat Petroleum Corporation. The company's primary asset is the Raniganj (South) block with 10.62 TCF Original-Gas-in-Place, where 156 wells have been drilled with 650 more planned. A secondary asset, the Mannargudi block in Tamil Nadu, is no longer held following arbitration.

Differentiator

Problem solved

Functional benefit

Products and services

• Coal Bed Methane (CBM) Exploration and Production Upstream CBM exploration and production operations in the Raniganj (South) block, West Bengal, covering 210 sq. km with 10.62 TCF estimated Original-Gas-in-Place (CBM OGIP 2.62 TCF). The company has drilled 156 wells and plans to drill 650 more, making GEECL the first company to commercially market CBM in India.
• Shale Gas Exploration Shale gas exploration in the Raniganj (South) block following a 2022 amendment to the petroleum mining lease enabling exploration and production of shale resources alongside CBM. Total OGIP for shale gas is estimated at 8.00 TCF, with planned investment of up to $2 billion.
• Industrial Natural Gas Supply (Pipeline) Sale of natural gas (CBM) through a dedicated 77.62 km MDPE and steel pipeline network running through the Asansol-Durgapur industrial belt, delivering gas to multiple large and medium industrial clients via Gas Gathering Station and Central Gathering Station infrastructure.
• CNG Supply (Franchise Operations) Downstream supply of Compressed Natural Gas (CNG) through franchise agreements with Indian Oil Corporation Limited (signed 2007) and Bharat Petroleum Corporation Limited (signed 2010), leveraging their retail networks to supply CNG to end customers across India.

Quantifiable outcome

• Extracted 10.62 TCF Original-Gas-in-Place from Raniganj (South) block
• +2 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• Bharat Petroleum Corporation LimitedcoreChannel Partner/ Reseller/ Distributor · 1 January 2010Franchise agreement signed in 2010 for GEECL to supply CNG through BPCL's retail network across India.
• Indian Oil Corporation LimitedcoreChannel Partner/ Reseller/ Distributor · 1 January 2007Franchise agreement signed in 2007 for GEECL to supply CNG (Compressed Natural Gas) through Indian Oil's retail network across India.
• Coal India LimitedcoreStrategic or Co-development Partner · 1 January 1993MOU and licence agreement signed in 1993 for exploration and production of Coal Bed Methane (CBM) for the Raniganj (South) block. GEECL paid a signature bonus of INR 10 million (over US$ 300,000) to Coal India Limited in 1994.
• Ministry of Petroleum and Natural Gas (MoPNG)coreOthersContract for exploration and production of Coal Bed Methane for Raniganj (South) block signed in 2001. Petroleum Exploration Licence (PEL) for Mannargudi block signed with Tamil Nadu Government in 2010.
• West Bengal GovernmentcoreOthersPetroleum Exploration License signed with West Bengal Government in 2001. Petroleum mining lease for Raniganj (South) block granted in 2008 and executed in 2014. Lease extended in 2024.

Scale indicators7 records

Recent moves9 records

Expansion highlights2 records

Direct peers

• Essar Oil and Gas Exploration and Production Ltd (EOGEPL): India's largest CBM producer, operating the Raniganj (East) block directly adjacent to GEECL's Raniganj (South) block. Operates in the same CBM geology, same West Bengal industrial market, and follows the same regulatory framework for CBM extraction and sales.
• Adani Total Gas Limited: One of India's largest city gas distribution (CGD) players, distributing CNG and piped natural gas to industrial, commercial, and residential customers. Comparable downstream to GEECL's CNG franchise and industrial pipeline supply business, though Adani sources rather than produces gas.

Broad incumbents

• ONGC (Oil and Natural Gas Corporation): India's largest state-owned upstream oil and gas producer with multiple CBM blocks. Directly comparable as an operator of CBM acreage and a natural gas producer, though with a much broader portfolio spanning conventional oil & gas and a nationwide footprint.
• Reliance Industries Limited (RIL): Operates KG-D6 basin and has historically held CBM blocks in India. Comparable as a large Indian upstream natural gas producer with integrated midstream and downstream operations, though operating at vastly greater scale.
• GAIL (India) Limited: India's largest natural gas transmission and distribution company, operating the national pipeline grid. Comparable as the dominant midstream gas infrastructure operator serving industrial customers, overlapping with GEECL's pipeline-based distribution model.

Regional players

• Indian Oil Corporation Limited (IOCL): GEECL's largest CNG franchise partner and a major industrial customer in the Indian downstream oil & gas market. Comparable as a large natural gas buyer and CNG distributor, though primarily as a customer/distribution channel rather than direct CBM competitor.
• Petronet LNG Limited: India's largest LNG importer and regasification terminal operator. Comparable as a major source of natural gas supply competing with domestic CBM, and relevant for understanding GEECL's pricing and demand environment in India's gas market.

Others

• Coal India Limited: Original lessor of the Raniganj (South) CBM block and the host coal mining entity from which CBM is extracted. Comparable as the source of methane resource and a related ecosystem participant in India's coal-to-gas value chain, though not a direct upstream competitor.

Emerging players

• CNX Resources (formerly CONSOL Energy): A leading U.S. CBM / coalbed methane and unconventional gas producer operating in the Appalachian basin. Comparable as a peer CBM operator with similar extraction economics, though operating in a mature, deregulated market versus GEECL's regulated Indian context.
• Range Resources Corporation: U.S. unconventional gas producer with significant CBM and shale gas operations in the Marcellus and Utica shales. Comparable as a peer CBM operator with extensive drilling programs and pipeline infrastructure, serving as a useful benchmark for GEECL's potential shale gas trajectory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Great-Eastern-Energy-Corporation-1251064051673171

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Great Eastern Energy Corporation