Delek Group Ltd. ADROTCPK - Current
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  • Tue, Nov. 29, 3:36 AM
    • Delek Group (OTC:DLKGF): Q3 net income from continuing ops of NIS167M
    • Revenue of NIS1.56B (-8.2% Y/Y)
    • Press Release
    | Tue, Nov. 29, 3:36 AM
  • Mon, Nov. 21, 10:03 AM
    • The companies owning the rights to Israel’s Leviathan natural gas field are close to securing $4B financing needed for development, according to CEO Yossi Abu of Delek Drilling (OTCPK:DGRLY, OTC:DKDRF), one of the partners.
    • With a large export contract already in hand - a $10B deal signed two months ago with Jordan's National Electric Power Co. - obtaining the funds is the next milestone for the gas explorers looking to tap the Israel's largest natural gas field, led by Noble Energy (NBL +2.9%).
    • The companies have been in talks with major banks since clearing antitrust issues with Israel’s government earlier this year.
    | Mon, Nov. 21, 10:03 AM
  • Mon, Sep. 26, 7:53 AM
    • Noble Energy (NYSE:NGL) and its partners in Israel's Leviathan natural gas field say they signed an export deal with Jordan's state-run electric power company.
    • The Leviathan partners will supply ~1.6T cf of gas, or 300M cf/day, over a 15-year term, plus a buyer's option to purchase an incremental 50M cf/day for a total of up to 350M; gross contract revenues are estimated at $10B.
    • NBL's Leviathan partners include Delek Group (OTCPK:DGRLY) and its subsidiaries Avner Oil (OTCPK:AVOGF) and Delek Drilling (OTC:DKDRF).
    | Mon, Sep. 26, 7:53 AM | 6 Comments
  • Wed, Aug. 31, 9:48 AM
    • Israel's Delek Group (OTCPK:DGRLY, DK) is considering New York, London or Amsterdam for an IPO of its stake in the Tamar natural gas field valued at $3B-$4B, Bloomberg reports.
    • Delek has held talks with HSBC and JPMorgan Chase on a plan to spin off its 31% stake in the offshore field into a special-purpose company and sell shares on one of the overseas bourses, according to the report.
    • Delek has five years to sell its Tamar holdings as part of an agreement reached with the government last year to resolve monopoly concerns.
    | Wed, Aug. 31, 9:48 AM | 1 Comment
  • Tue, Aug. 30, 7:27 AM
    | Tue, Aug. 30, 7:27 AM
  • Mon, Jul. 18, 8:55 AM
    • Delek Group (OTCPK:DGRLY) agrees to acquire a 20% stake in the U.K.-based Kraken oil field from EnQuest (OTC:ENQUF) for $162M, as it seeks opportunities outside the Israeli natural gas market.
    • The purchase is part of Delek’s strategy to acquire industry know-how and grow into an international energy brand.
    • Production in the Kraken field, which holds 147M barrels of heavy oil, is expected to begin in 2017.
    | Mon, Jul. 18, 8:55 AM
  • Thu, Jun. 2, 12:30 PM
    • Israel's government approves the development of the Leviathan natural gas field, one of the largest offshore discoveries of the past decade.
    • Noble Energy (NBL -0.4%), which holds a 40% stake in Leviathan, says the field would initially start production at 1.2B cf/day and expand to 2.1B cf/day; the field has an estimated 622B cm of reserves and is expected to become operational in 2019.
    • The project had been opposed by opposition parties and public advocacy groups on grounds that NBL and its partner Delek Group (OTCPK:DGRLY) - which also own the adjacent Tamar field - would control too much of Israel's natural gas supply.
    • Earlier this week, Leviathan signed a deal to supply up to 473B cf to a new private power plant for 18 years; NBL estimates gross revenue from the deal at $2.5B.
    | Thu, Jun. 2, 12:30 PM | 4 Comments
  • Tue, May 31, 7:27 AM
    • Delek Group (OTC:DLKGF): Q1 EPS of NIS237M
    • Revenue of NIS1.29B (-16.8% Y/Y)
    | Tue, May 31, 7:27 AM
  • Mon, May 30, 4:34 AM
    • The partners in Israel's Leviathan natural gas field - Noble Energy (NYSE:NBL) and Israel's Delek Group (OTCPK:DGRLY) - have signed an agreement to supply as much as $3B worth of gas to a new private power plant in central Israel.
    • "This deal is an important milestone, in that it establishes another domestic contract that... is essential for the quick development of Leviathan," said Niv Sarne, Noble's manager of business development.
    | Mon, May 30, 4:34 AM
  • Sun, May 22, 10:16 AM
    • Israel has approved a deal it hopes will fast-track development of the huge Leviathan offshore natural gas field and end years of regulatory uncertainty that has stifled the country's nascent oil and gas industry.
    • The agreement is said to give the state more leeway while offering enough stability for Leviathan partners - Noble Energy (NYSE:NBL) and Israel's Delek Group (OTCPK:DGRLY) - and will hopefully bring the field online by the end of 2019.
    • Previously: Israel reaches deal with Noble Energy, Delek on Leviathan gas plan (May. 18 2016)
    | Sun, May 22, 10:16 AM | 2 Comments
  • Wed, May 18, 4:48 PM
    • Israel has reached a new agreement with Noble Energy (NYSE:NBL) and Delek Group (OTCPK:DGRLY) that will allow the companies to move ahead with development of the Leviathan natural gas field.
    • Finance Minister Steinitz says the new deal, which will be consider for final approval in the coming days, gives the government more leeway to change policies if needed.
    • The project hit a major obstacle in March when Israel's Supreme Court blocked a previous agreement that bound the state to the terms of the deal for 10 years.
    • NBL, which had warned that the court ruling could delay development of Leviathan beyond its hoped-for year-end 2019 completion date, calls the new agreement an "important milestone in creating a stable investment environment."
    • Now read Bloomberg: Israel, Egypt near accord on natural gas dispute
    | Wed, May 18, 4:48 PM
  • Wed, May 18, 11:48 AM
    • Israel and Egypt are nearing a compromise that would sweep away a major obstacle to a multibillion-dollar natural gas deal, as Israel may agree to settle for half of the $1.73B fine Egypt was ordered to pay it, Bloomberg reports.
    • Israel considers gas exports to Egypt and other countries in the region a strategic imperative to cement ties with its closest ally in the Muslim world; energy-strapped Egypt needs fuel until it develops its own newly discovered fields, and it can use an idle gas pipeline to transfer Israeli fuel for export to third countries.
    • U.S.-based Noble Energy (NYSE:NBL) and Israel’s Delek Group (OTCPK:DGRLY) need export contracts with Egypt to obtain financing for the development of the Leviathan gas field.
    | Wed, May 18, 11:48 AM
  • Mon, Apr. 11, 9:17 AM
    • Noble Energy (NYSE:NBL) is in talks with Israeli institutional investors to sell part of its holding in the Tamar natural gas reserve for at least $1B, according to weekend reports in the Israeli media.
    • Under its framework agreement with Israel's government, NBL has six years to reduce its 36% stake in Tamar to 25%, but the company has been selling assets as it faces a cash crunch.
    • The Tamar field off Israel's Mediterranean coast, which started production in 2013, contains estimated reserves of nearly 11T cf; Tamar partners NBL and Delek (OTCPK:DGRLY) also control the nearby and much larger Leviathan field, which is still undeveloped.
    • Now read Noble Energy still a Buy at Stifel following Israel Supreme Court ruling
    | Mon, Apr. 11, 9:17 AM | 2 Comments
  • Fri, Apr. 1, 7:15 AM
    • Delek Group (OTC:DLKGF) declares NIS8.3447/share totaling approx. NIS100M.
    • The dividend is payable on April 21 to shareholders on record of April 7.
    | Fri, Apr. 1, 7:15 AM
  • Thu, Mar. 31, 6:10 AM
    • Delek Group (OTCPK:DGRLY): Q4 net income of NIS76M
    • Revenue of NIS1.44B (-25.8% Y/Y)
    | Thu, Mar. 31, 6:10 AM
  • Mon, Mar. 28, 8:26 AM
    • Shares in Israeli gas companies Avner Oil (OTCPK:AVOGF) and Delek Drilling (OTC:DKDRF) sink even after partners in Israel’s Leviathan offshore gas field said the high court ruling that blocked a proposal to regulate the natural gas industry would not derail their development plans.
    • Delek Group (OTCPK:DGRLY) CEO Assi Bartfeld said in a conference call that the partners would work hard to find the solutions necessary to come to an agreement, a stance that Barclays analyst Tavy Rosner calls “overly optimistic... The partners are unlikely to manage to secure export contracts without a stability clause in place. Working around that clause could take several months.”
    • Noble Energy (NYSE:NBL) Chairman David Stover says the court ruling was “disappointing and represents another risk to Leviathan timing.”
    • In the U.S., NBL -4.1% premarket.
    | Mon, Mar. 28, 8:26 AM