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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
06/27/201616:33:31Statement of Changes in Beneficial Ownership (4)
06/23/201614:20:00U.S. Oil Output to Get Boost From Gulf
06/20/201608:57:00CONE Midstream To Participate In Credit Suisse MLP & Energy Logistics...
06/16/201607:00:00Noble Energy Further Enhances Wells Ranch Position Through DJ...
06/13/201616:15:00Noble Energy to Present at Upcoming Energy Conferences
06/03/201614:25:52Annual Report of Employee Stock Plans (11-k)
06/02/201608:45:00Noble Energy Receives Plan of Development Approval for Leviathan...
05/22/201622:30:00Netanyahu Approves Deal to Develop Israel's Natural-Gas Fields
05/22/201612:20:00Netanyahu Approves Deal to Develop Israel's Natural-Gas Fields
05/22/201612:19:00Netanyahu Approves Deal to Develop Israel's Natural-Gas Fields
05/16/201616:15:00Noble Energy to Present at Upcoming Energy Conference
05/16/201607:10:00Range Resources To Buy Memorial Resource for $3.3 Billion
05/10/201614:46:20Amended Statement of Ownership (sc 13g/a)
05/05/201607:00:00CONE Midstream Reports First Quarter Results
05/04/201611:18:06Quarterly Report (10-q)
05/04/201609:37:00U.S. Hot Stocks: Hot Stocks to Watch
05/04/201608:33:00Noble Energy Loss Widens
05/04/201607:58:47Current Report Filing (8-k)
05/04/201607:00:00Noble Energy Announces Solid First Quarter 2016 Results
05/03/201618:14:00Synergy Resources to Acquire Assets From Noble Energy for $505...

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