Chevron has said the acquisition strengthens its regional position and, over the long term, it expects population growth to drive demand for natural gas, which is less carbon intensive than some fossil fuels.Investing legend Whitney Tilson says there's a huge new tech trend coming – and he's revealing his #1 pick for free.Delek Drilling said on Wednesday the partners in the Tamar natural gas site will start paying taxes on profit in early 2021, which could help Israel move forward with plans to create a sovereign wealth fund. Prime Minister Benjamin Netanyahu has said that tens of billions of dollars raised from taxing natural gas sales would be invested abroad via a sovereign wealth fund, with proceeds brought home for education, welfare and other services. With major finds in the Levant Basin, including the Leviathan (21.4 TCF) and Tamar (11.2 TCF) reservoirs and others, Delek is leading the region’s development into a major natural gas export hub.
The bond offering was boosted by the news last month that Chevron had acquired Noble Energy, the operating partner in the Leviathan reservoir with a 39.9% stake. Chevron's entry into Israel's Leviathan natural gas field will help deliver the technical and marketing nous to turn the project into a global supplier, said the CEO of Delek Drilling, the energy giant's new regional partner. Midroog believes that closely held Ithaca’s valuation has dropped due to its exposure to world oil prices and the drop in … The company on Sunday reported first quarter net profit of $84.3 million, up 110% from a year earlier.
The issue, expected to be completed in coming weeks, will be led by JP Morgan and HSBC, Delek said on Monday, adding it will pledge its rights in the Leviathan project in favour of the bondholders. Delek Drilling, a subsidiary of energy conglomerate Delek Group, has total financial debt of $3.4 billion.
Subscribe to Premium to view Fair Value for DEDR-L.TAChevron's entry into Israel's Leviathan natural gas field will help deliver the technical and marketing nous to turn the project into a global supplier, said the CEO of Delek Drilling, the energy giant's new regional partner. The fund, aimed at preventing Israel's currency from overheating because of the sudden influx of natural gas revenues, was due to be set up in 2018, but political turmoil and a slower stream of revenue have caused delays.Market Digest: ENB, BYD, LAZ, MSFT, NOK, SON, CBOE, FBDiscover new investment ideas by accessing unbiased, in-depth investment researchOther OTC - Other OTC Delayed Price. Delek Drilling, the unit that controls the group’s Israeli natural gas holdings, tumbled 13.8% on Sunday and another 16.2% on Monday to end at 3.61 shekels, bringing its year-to-date decline to 59%. Prime Minister Benjamin Netanyahu has said that tens of billions of dollars raised from taxing natural gas sales would be invested abroad via a sovereign wealth fund, with proceeds brought home for education, welfare and other services.
JERUSALEM: Israel's Delek Drilling plans to raise $2.25 billion in an international bond offering to help it finance development of the Leviathan natural gas project off Israel's Mediterranean coast.
As Shares in Israeli Energy Group Delek Tumble, Risk of a Debt Bailout Looms ; Shares of Delek Drilling have fallen 60% on the TASE this year. The company is worth just 4.2 billion shekels on the TASE. Find the latest DELEK DRILLING (DKDRF) stock quote, history, news and other vital information to help you with your stock trading and investing. Chevron became the first energy major to enter the Israeli market when it agreed last month to buy Texas-based Noble Energy , which has stakes in Israeli offshore gas fields. Find the latest DELEK DRILLING (DEDR-L.TA) stock quote, history, news and other vital information to help you with your stock trading and investing. Chevron has said the acquisition strengthens its regional position and, over the long term, it expects population growth to drive demand for natural gas, which is less carbon intensive than some fossil fuels.Delek Drilling said on Wednesday the partners in the Tamar natural gas site will start paying taxes on profit in early 2021, which could help Israel move forward with plans to create a sovereign wealth fund. Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med.
It is a partner in two of Israel's largest offshore natural gas fields, Tamar and Leviathan. The fund, aimed at preventing Israel's currency from overheating because of the sudden influx of natural gas revenues, was due to be set up in 2018, but political turmoil and a slower stream of revenue have caused delays.Discover new investment ideas by accessing unbiased, in-depth investment research Currency in USDSee Why This New Smartwatch Is Selling Out in Australia The bonds are guaranteed by a lien on the gas from the Leviathan offshore field in which Delek Drilling has a 45.34% stake. Chevron became the first energy major to enter the Israeli market when it agreed last month to buy Texas-based Noble Energy , which has stakes in Israeli offshore gas fields.