Tamar well operator Noble Energy Inc. (NYSE: NBL) has notified its Israeli partners in the license that the Sedco Express rig began drilling the Tamar 6 well yesterday.
The drilling will be in three stages. In the first stages, the Tamar 6, Tamar 5, Tamar 4, and the Tamar 3 will be drilling in that order, to an initial depth of 2,500 meters (including the depth of the water). In the second stage, these wells will be dug to a planned final depth of 5,200 meters. In the third stage, the wells will be prepared for production, to be followed by the Tamar 2 well, originally drilled as an exploratory well in 2009.
Noble Energy estimates that this work will take about one year.
The Tamar natural gas field is scheduled to come on line by the end of 2012.
Noble Energy owns 36% of Tamar, Delek Group Ltd. (TASE: DLEKG) subsidiaries Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) each own 15.625%, Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) owns 28.7%, and Alon Natural Gas Exploration Ltd. (TASE: ALGS) owns 4%.
Delek Group's share price rose 1.4% in morning trading to NIS 929, Avner's share price rose 0.4% to NIS 2.46, Delek Drilling's share price rose 0.2% to NIS 13.82, Isramco's share price rose 1.4% to NIS 0.45, and Alon Gas's share price was unchanged at NIS 34.95.
Published by Globes [online], Israel business news - www.globes-online.com - on April 11, 2011
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