Deal for stake in Israel's Leviathan gas field on hold


Woodside Petroleum (WOPEF, WOPEY) has delayed signing an expected agreement to partner with Noble Energy (NBL +1.8%) and take up to a $2.7B stake in Israel's Leviathan gas field, reportedly balking at a push by the Israeli government to cut the potential share of profits from liquefied natural gas exports to Asia.

RBC Capital still sees a good chance that the deal will get done, adding that preliminary guidelines released by Israeli regulators for Leviathan are in-line with its previous expectations; the firm keeps an Outperform rating on NBL.

Comments (2)
  • saratogahawk
    , contributor
    Comments (2533) | Send Message
     
    This is just the normal jousting for position. It is highly likely this will get done as Israel wants and needs the revenues.
    28 Mar 2014, 10:59 AM Reply Like
  • JB204zz
    , contributor
    Comments (92) | Send Message
     
    My question is why did NBL stock rise 2 pts the day this was announced. I'm speculating that the Israeli government is trying to water down the profits for the original investors in Leviathan and the Woodside deal was being forced on NBL.
    30 Mar 2014, 05:03 AM Reply Like
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