Greka

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. 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."

Green Dragon Gas

Green Dragon Gas is "the largest independent producer and distributor of Coal Bed Methane in China." 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."

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

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.

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."

In December 2012, Greka Drilling "signed a contract to drill 100 wells in the Ordos basin for China’s state-run Sinopec." 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.

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.

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.

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."

Formerly the engineering business of Green Dragon Gas, Greka Engineering demerged from the company in September 2013 to be listed on the London Stock Exchange sub-market AIM. 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."

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.

Greka Integrated

Greka Integrated is an integrated energy company with operations in California based primarily out of Santa Maria. The asphalt plant in Santa Maria "produces light naphtha, kerosene distillate, gas oils and numerous cut-back, paving and emulsion asphalt products." 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.