Deep Industries Shares Slump 3% on Gas Leak Incident at Unit 

Shares of Deep Industries Ltd slumped 3% on 6 January after the company announced a gas leak at Well Mori #5, Andhra Pradesh. 

In its regulatory filing, the company said, “Please note that an incident of gas leak during the workover operations was reported at Well Mori #5, Andhra Pradesh, operated by Deep Industries Limited (DIL) under ONGC’s production enhancement activities.”

As per the filing, Deep Industries operates Well Mori #5 as part of ONGC’s production enhancement programme. Soon after the team carried out re-perforation, the well experienced a kick, leading to an uncontrolled flow. 

The company had previously tested the reservoir and put all required safety measures in place before starting the re-perforation work. Senior teams from Deep Industries and ONGC are currently working on-site to bring the well under control.

Separately, in December 2025, Deep Industries transferred its 15-year production enhancement contract for ONGC’s Mature Fields at the Rajahmundry Asset to its subsidiary, Deep Exploration Services. The company made this move to ensure sharper focus and stronger accountability in executing the project. To facilitate the transfer, Deep Industries signed a tripartite assignment agreement with ONGC and Deep Exploration Services.

Earlier, in April, Deep Industries had received the original letter of award from ONGC for the same 15-year production enhancement operations at the Rajahmundry Asset.

Deep Industries specialises in air and gas compression, drilling and workover services, gas dehydration, and integrated project management services. Over time, the company has positioned itself as a one-stop solution provider for oil and gas field operations, offering a wide range of equipment and services on rental and charter-hire basis, covering activities from exploration and production to midstream operations.

At 12:25 pm, the shares of Deep Industries were trading 3.08% lower at Rs 420.80 on NSE.

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