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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
08/26/201608:00:00Noble Energy to Present at Upcoming Energy Conference
08/16/201616:46:45Statement of Changes in Beneficial Ownership (4)
08/16/201616:40:48Statement of Changes in Beneficial Ownership (4)
08/04/201606:45:00CONE Midstream Reports Second Quarter Results and Increases Guidance
08/03/201612:41:32Quarterly Report (10-q)
08/03/201609:43:00Noble Energy's Loss Widens
08/03/201607:41:02Current Report Filing (8-k)
08/03/201607:00:00Noble Energy Announces Strong Second Quarter Results, Raises...
07/29/201616:09:19Current Report Filing (8-k)
07/28/201616:14:44Current Report Filing (8-k)
07/26/201612:32:05Noble Energy Declares Quarterly Dividend
07/22/201606:45:00CONE Midstream Increases Quarterly Cash Distribution
07/21/201607:32:07Noble Energy Commences Production at Gunflint in the Gulf of...
07/11/201608:59:00CONE Midstream Schedules Earnings Release and Conference Call...
07/07/201607:50:46Noble Energy Announces Second Quarter 2016 Sales Volumes of...
07/05/201609:59:00Correction to Noble to Sell 3% Interest in Tamar Field Article
07/05/201609:22:00Noble Energy to Sell 3% Interest in Tamar Field
07/05/201607:00:00Noble Energy Sells Three Percent Interest in Tamar Field, Offshore...
06/27/201616:33:31Statement of Changes in Beneficial Ownership (4)
06/23/201614:20:00U.S. Oil Output to Get Boost From Gulf

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