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Israel's Pinnacle Well Will Begin Producing Gas In July

JERUSALEM -(Dow Jones)- Two Israeli energy companies, Avner Oil and Gas Ltd. Partnership (AVNR.L.TV) and Delek Drilling Ltd. Partnership (DEDR.L.TV), said Monday that one of their small exploration wells will begin producing natural gas in July and help meet Israel's energy needs until their larger reserve, Tamar, is able to start production next year. The Pinnacle 1 exploration well will begin producing gas in July, just as Israel's only active gas reservoir, Yam Tethys, is being depleted. The Pinnacle well likely contains up to 1.3 billion cubic meters of natural gas, according to a survey by Netherland Sewell & Associates Ltd. The Tamar reserve contains at least 9 trillion cubic feet of natural gas. Due to disruptions in the supply of natural gas from Egypt, following several attacks on the pipeline in the Sinai peninsula after the fall of former president Hosni Mubarak, Israel has had to rely more heavily on diesel and other forms of energy. As a result, electricity prices have risen and are likely to rise more this summer, according to the government. Houston-based Noble Energy Inc. (NBL) partially owns the Pinnacle 1 well and the Tamar reserve along with Avner, Delek Drilling and several other smaller Israeli companies. At 1114 GMT, shares of Avner were up 0.01 shekels, or 0.39%, at ILS2.55 ($0.69), and shares of Delek Drilling were up ILS0.15, or 1.06%, at ILS14.32, in a higher Tel Aviv market. -By Sara Toth Stub, Contributing to Dow Jones Newswires, saratoth@gmail.com

Stock News for Noble (NBL)
DateTimeHeadline
05/02/201616:40:30Statement of Changes in Beneficial Ownership (4)
05/02/201616:38:20Statement of Changes in Beneficial Ownership (4)
05/02/201616:30:00Noble Energy to Present at Upcoming Energy Conference
04/28/201611:46:08Noble Energy Declares Quarterly Dividend
04/27/201616:44:25Current Report Filing (8-k)
04/21/201608:58:00CONE Midstream Increases Quarterly Cash Distribution
04/14/201606:10:40Notice of Exempt Solicitation. Definitive Material. (px14a6g)
04/13/201611:55:54Notice of Exempt Solicitation. Definitive Material. (px14a6g)
04/11/201614:52:00CONE Midstream Schedules Earnings Release And Conference Call...
04/08/201609:45:00Noble Energy Abandons Well in Gulf of Mexico
04/08/201608:10:00Noble Energy Provides Gulf of Mexico Drilling Update
03/29/201616:03:28Statement of Changes in Beneficial Ownership (4)
03/28/201616:15:00Noble Energy Announces Its First Quarter 2016 Earnings Webcast...
03/28/201603:02:00Israeli Court Blocks Gas Deal
03/27/201621:40:00Israel Supreme Court Rules Against Offshore-Gas Deal
03/27/201620:43:37Israel Supreme Court Rules Stability Provisions to be Addressed...
03/27/201620:02:00Israel Supreme Court Rules Against Offshore-Gas Deal
03/27/201615:34:00Israel Supreme Court Rules Against Offshore-Gas Deal
03/11/201608:26:18Additional Proxy Soliciting Materials (definitive) (defa14a)
03/11/201608:25:08Proxy Statement (definitive) (def 14a)

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