The pre-drill gross mean resource potential for Tamar was originally estimated at 3.1 trillion cubic feet (Tcf) of natural gas. Immediately following discovery, we estimated the gross resource potential to be at least equal to the pre-drill mean estimate. After analysis of all the post-drill and production test data, the estimated gross mean resource potential of Tamar has now been increased to 5 Tcf.
The Company and its partners have elected to keep the Atwood Hunter, a semi-submersible drilling rig, offshore Israel for two additional wells. Subsequent to operations at the Tamar #1 well, the drilling rig will proceed to the Dalit exploration prospect in the Michal license. Dalit has a pre-drill gross mean resource of about 700 billion cubic feet of natural gas with an approximate 40 percent chance of success. Located in 4,500 feet of water and 28 miles offshore, the well has a proposed total depth of about 12,500 feet. Immediately after concluding operations at Dalit, the rig will be relocated to Tamar where it will drill an appraisal well to further define the resources of the structure.
Charles D. Davidson, Noble Energy’s Chairman, President and CEO, said, “The test results from the Tamar well confirm our initial analysis that the discovered reservoirs are very high quality. This discovery is clearly of a size for commercial development. We hope to extend the success in Israel by testing Dalit, our second prospect which is already covered by 3D. Discussions with our various partners are currently ongoing with plans to potentially conduct new seismic over our additional leads on other licenses in the area. Each incremental piece of information gathered is critically important as we continue to learn more about the potential of the Tamar discovery and this highly under-explored region. The implications of this discovery to Israel, Noble Energy, and our partners cannot be overstated, and we all have committed significant resources to better understand its scale and scope.”
Noble Energy operates both the Matan and Michal licenses with a 36 percent working interest. Other interest owners are Isramco Negev 2 with 28.75 percent, Delek Drilling with 15.625 percent, Avner Oil Exploration with 15.625 percent and Dor Gas Exploration with the remaining four percent.
Noble Energy is a leading independent energy company engaged in worldwide oil and gas exploration and production. The Company operates primarily in the Rocky Mountains, Mid-Continent, and deepwater Gulf of Mexico areas in the United States, with key international operations offshore Israel, UK and West Africa. Noble Energy is listed on the New York Stock Exchange and is traded under the ticker symbol NBL. Visit Noble Energy online at www.nobleenergyinc.com.
JERUSALEM, Jan 1 8 (Reuters) – Shares of Israeli energy companies soared on Sunday after an exploration group led by Noble Energy (NBL.N) said it discovered more than 3 trillion cubic feet of natural gas off Israel’s Mediterranean coast.
Among Israeli partners in the Yam Thetis consortium, Isramco (ISRAp.TA), with a 28.75 percent stake, led gainers with a nearly 130 percent surge.
Delek’s parent, Delek Group (DELKG.TA), rose 54 percent.
Overall, the blue-chip Tel Aviv 25 index .TA25 was up 2.6 percent, while the broader TA-100 .TA100 was 3.7 percent higher at midday.
(Reporting by Steven Scheer; editing by John Stonestreet)