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Noble Energy (NBL -0.6%), which owns a 36% stake in Israel's Tamar gas field, has rejected the...
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Wednesday, December 26, 2012, 11:29 AM ETNoble Energy (NBL -0.6%), which owns a 36% stake in Israel's Tamar gas field, has rejected the findings of Dutch energy development consultant SGS Horizon that says additional drilling will likely have to be conducted over the next two years in order to ensure that the field continues to yield gas. The significance of the findings is that it implies tens of millions of dollars in additional development costs, plus implementing more drilling raises the risk of water seeping into the gas field.
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