Synergia Energy (LSE:SYN) has reported a notable increase in oil output from two legacy wells at its onshore Cambay Production Sharing Contract (PSC) field in India. Following workover operations completed in November 2025, wells C-64 and C-74 have shown improved performance, with combined production rising from an average of 78 barrels of oil per day in February to around 195 barrels per day so far in March. The increase follows recent adjustments to pump rates aimed at enhancing recovery.
Gas production at the field has also remained stable, with the C-77H gas well continuing to operate at a plateau level of roughly 500,000 standard cubic feet per day. The combined performance improvements across both oil and gas operations highlight stronger operational momentum at Cambay, which could support Synergia’s near-term revenue prospects and strengthen its presence in India’s onshore energy sector.
Despite the operational progress, the company’s outlook remains constrained by weak financial performance. Revenues have declined, gross profit remains negative, and the business continues to experience operating and free cash flow outflows. Technical indicators also point to bearish momentum, with the share price trading below major moving averages and a negative MACD signal. While a very low price-to-earnings ratio offers some valuation support, it does little to offset ongoing operational and cash flow risks.
More about Synergia Energy Ltd
Synergia Energy Ltd is an oil and gas exploration and production company focused on onshore energy assets in India. The company holds a 50% working interest in the Cambay PSC, where it is pursuing both oil and gas development to increase hydrocarbon production and improve recovery from the field.
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