The Delek Group, that began in 1951 as the Delek, Israel Fuel Corporation, is listed on the Tel Aviv Stock Exchange and is controlled by internationally renowned businessman, Mr. Isaac Tshuva. The Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas... More
Wednesday, Mar 127:56 AM
Wednesday, Mar 127:56 AM| 1 Comment
- Partners in Israel's offshore Tamar natural gas field sign their second domestic supply deal this week; the two deals this week will supply ~7.8B cubic meters of gas over 15 years, likely worth $1.75B.
- Major stakeholders in Tamar include Noble Energy (NBL), which controls 36%; Delek Drilling (DKDRF), a Delek Group subsidiary (DGRLY), which holds 15.6%; and Avner Oil and Gas (AVOGF), another Delek Group subsidiary, also with 15.6%.
- The Tamar field, estimated to contain ~9T cubic feet of gas, began production in March and has signed supply deals with several Israeli corporations.
Friday, Feb 77:51 AM
Friday, Feb 77:51 AM| 3 Comments
- Israel takes a step closer to becoming a natural gas exporter after Australia's Woodside Petroleum (WOPEF, WOPEY) signs a preliminary agreement to buy a 25% stake in the east Mediterranean Leviathan gas field for up to $2.55B.
- Noble Energy (NBL) will remain the project's lead partner with a 30% stake, while the other groups involved, Israel's Delek Group (DGRLY, DLKGF), Avner Oil and Ratio Oil, will each sell one-quarter of their stakes to Woodside.
- Leviathan is estimated to hold ~19T cf of natural gas, enough to supply all of Europe for more than a year.
Monday, Jan 68:07 AM
Monday, Jan 68:07 AM| Comment!
- Noble Energy (NBL) and its partners in the giant Leviathan gas field offshore Israel secure their first supply deal, a 20-year agreement to sell $1.2B worth of gas to the Palestine Power Generation Company.
- The Leviathan group will sell a total of up to 4.75B cm of natural gas once Leviathan starts production in 2016 or 2017, says Delek Group (DGRLY, DLKGF) one of the partners.
- PPGC plans to build a $300M power plant in Jenin in the Palestinian-controlled West Bank to be operated by the gas from Leviathan.
Wednesday, Jan 14:38 AM
Wednesday, Jan 14:38 AM| Comment!
- The group that is drilling for gas at the huge Leviathan field off the coast of Israel is in "advanced negotiations" with the government to sell two smaller reserves in order to assuage antitrust concerns.
- The consortium comprises Noble Energy (NBL) and Delek Group (DGRLY) units Delek Drilling (DKDRF) and Avner Oil & Gas (AVOGF).
- The areas under discussion, called Tanin and Karish, hold combined estimated reserves of 3T cubic feet, well below the consortium's other resources - Leviathan has 19T cf and Tamar 10T cf.
- Once an agreement is reached, the group will have a reported 2.5-4 years to sell the assets.
Tuesday, Dec 312013, 8:58 AM
Tuesday, Dec 312013, 8:58 AM| Comment!
- Israeli conglomerate Delek Group (DGRLY, DLKGF) is examining a spinoff of its oil and gas activities, saying it could help maximize value for shareholders by separately listing a bunch of assets which one analyst values at ~$3.6B.
- Delek would transfer to the new company its holdings in Delek Energy Systems (DLKNF), Delek Drilling (DKDRF), Avner Oil (AVOGF) and others, and would include rights to receive royalties from the energy sector.
- UBS analyst Roni Biron says Delek is the only Israeli E&P vehicle not structured as a limited partnership, and its holding structure had made it less popular among international investors.
Monday, Dec 302013, 1:49 PM
Monday, Dec 302013, 1:49 PM| 2 Comments
- Israel's lack of preparations for exporting offshore natural gas have postponed drilling and threaten a $2.3B investment from Australia’s Woodside Petroleum (WOPEF, WOPEY), which is examining other options in case details of drilling at the Leviathan gas field aren’t settled in H1 2014, Bloomberg reports.
- The 2010 discovery of Leviathan, then the biggest offshore find in a decade, looked like it would provide a bonanza for Israel, but after taking two years to decide how much gas to export, Israel hasn’t agreed on details such as where to build refineries, and partners are still discussing how to transport the fuel.
- The delays have contributed to a big drop this month in shares of Delek Group (DGRLY, DLKGF), the project’s biggest Israeli partner, and smaller losses in Noble Energy (NBL) and Avner Oil (AVOGF).
Friday, Dec 132013, 2:25 PM
Friday, Dec 132013, 2:25 PM| 5 Comments
- Noble Energy (NBL -1%) and Delek Group (DGRLY), which are developing natural gas fields offshore Israel, are nearing a politically sensitive deal to supply gas to Jordan, WSJ reports.
- The deal would involve extending a gas pipeline from an Israeli chemical plant to a fertilizer plant in Jordan owned by Arab Potash, which is 28% owned by Potash Corp (POT).
- A deal would move Israel closer to exporting energy for the first time in its history, and could open a major economic link and provide a springboard for a much bigger supply deal between the neighboring countries.
Wednesday, Dec 42013, 8:58 AM
Wednesday, Dec 42013, 8:58 AM| Comment!
- The partners in Israel's Tamar natural gas field sign a seven-year deal to sell $105M worth of gas to Delek Israel, which owns and operates gasoline stations across the country and plans to start selling compressed natural gas at its stations in coming years.
- Tamar, which began production in March, is estimated to hold more than 280B cm of gas; Noble Energy (NBL) owns a 36% stake in the field, while Delek Group (DGRLY, DLKGF) holds a 31.25% stake through its units Avner Oil (AVOGF) and Delek Drilling (DKDRF).
Tuesday, Nov 262013, 7:34 AM
Tuesday, Nov 262013, 7:34 AM| Comment!
- Delek Drilling (DKDRF) has found significant signs of a new natural gas deposit at the Tamar Southwest field off Israel's Mediterranean coast.
- Earlier estimates have said that the reserve could hold 20B cubic meters of gas.
- Delek Drilling's partners in the project are Isramco Negev 2, Avner Oil Exploration (AVOGF) and Dor Gas Exploration. Delek Drilling and Avner are subsidiaries of Delek Group (DGRLY).
- The deposit is close to the Tamar field, which is estimated to hold 10T cubic feet of gas.
- ETFs: GAZ, UGAZ, BOIL, DGAZ, KOLD, NAGS, GASZ, DCNG
Monday, Nov 182013, 10:38 AM
Monday, Nov 182013, 10:38 AM| 3 Comments
- Drilling at the Leviathan gas field offshore Israel, which was supposed to begin in December, has been postponed indefinitely, Globes reports.
- Sources at Leviathan's partners, including Noble Energy (NBL -1.8%) and Delek Group (DGRLY -2.6%) say no decision had been made to postpone drilling, but other sources reportedly say investment in developing Leviathan - such as the tender for choosing a FPSO ship - has ground nearly to a complete halt.
- Leviathan is estimated to contain ~19T cf of natural gas.
Wednesday, Aug 212013, 10:19 AM
Wednesday, Aug 212013, 10:19 AM| 1 Comment
- The Israeli partners in the Tamar offshore natural gas field say two nearby reservoirs contain ~0.7T cf of natural gas but have not yet made a decision on whether they will develop the reservoirs.
- Noble Energy (NBL) owns 36% of Tamar, while Delek Drilling (DKDRF.OB) and Avner Oil (AVOGF.PK), both subsidiaries of Delek Group (DGRLY.PK), hold 15.625% each; Isramco Negev holds 28.75%.
- Tamar holds an estimated 10T cf of gas.
Tuesday, Aug 202013, 11:57 AM
Tuesday, Aug 202013, 11:57 AM| Comment!
- Delek Group (DGRLY.PK +5%) shares rise to record highs after the Israeli energy company said the sale of shares in Delek US Holdings (DK +1.1%) would result in a profit and on bets an offer to buy the outstanding stock in another subsidiary will succeed.
- The sale of Delek US shares "is generating significant profit" in the company, an Israeli analyst says.
- Delek Group, whose interests include the offshore Leviathan and Tamar natural gas sites, closed at 1,112 shekels, the highest level since listing on the Tel Aviv exchange in 2000.
Tuesday, Aug 62013, 11:52 AM
Tuesday, Aug 62013, 11:52 AM| Comment!
- A Noble Energy (NBL -1.7%)-led group is in talks to export natural gas from discoveries off Israel to Europe via a pipeline to Turkey and other Middle East countries.
- NBL is looking to develop the 19T-cf Leviathan field in partnership with local players Delek Drilling, Avner and Ratio Oil, with first gas production expected in 2016.
- Deals could be signed soon depending on the outcome of a case before Israel's High Court over the amount of exports allowed, a Delek spokesman says.
Wednesday, Jun 192013, 3:59 PMCyprus' cabinet approves a preliminary deal with Noble Energy (NBL), Delek Drilling (DGRLY.PK, DK) and Avner Oil Exploration (AVOGF.PK) to develop a ~$10B liquefied natural gas terminal on the island, the government says without providing details. Cyprus aims to begin LNG exports in 2020 and to process not only its own gas but also supplies from Israel and possibly Lebanon. (earlier) |Wednesday, Jun 192013, 3:59 PM| 1 Comment
Wednesday, Jun 192013, 11:56 AMCyprus and Israel's Delek Drilling (DK, DKDRF.OB) are in talks about developing a $10B liquefied natural gas terminal on the island to tap the east Mediterranean's vast gas discoveries and serve buyers in Europe and Asia. A delegation from Delek, which is developing Israel's giant Leviathan and Tamar gas fields with Noble Energy (NBL), recently visited Cyprus to discuss the project. |Wednesday, Jun 192013, 11:56 AM| 2 Comments
Sunday, Mar 312013, 4:57 AMIsrael has started production of natural gas from its offshore Tamar field, taking the country further along the road towards energy independence. The news is also a boon to the companies who have been developing Tamar - which holds 10T cubic feet of gas - including Noble Energy (NBL) and Delek Group (DGRLY.PK). |Sunday, Mar 312013, 4:57 AM| 3 Comments