Israel Land Energy doubles its licenses

ILDC Energy bought 17.5 percent of Delek’s and Noble Energy’s rights in the Alon E and Ruth D gas fields.

February 24, 2011 23:27
Drillling for gas offshore

Offshore Gas Drilling 311. (photo credit: Courtesy)


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Israel Land Development Company Energy Ltd., controlled by Ofer Nimrodi, has bought rights in four offshore natural-gas exploration licenses from Delek Group Ltd., Noble Energy Inc. and Isramco Ltd. In a separate deal, Modiin Energy LP bought rights from Delek Group Ltd.

ILDC Energy bought 17.5 percent of Delek’s and Noble Energy’s rights in the Alon E and Ruth D gas fields, in the northern part of Israel’s maritime exclusive economic zone, near Tamar and Leviathan, in exchange for participating proportionally in exploration expenses. It bought 10% of the Daniel license from Isramco, in exchange for an option to buy 5% of the rights in the Sarah license.

Be the first to know - Join our Facebook page.

There has been great interest in the Daniel license ever since Isamco announced several interesting drilling prospects were found by a 3-D seismic survey on a 200- square-kilometer section of license earlier this year. Isramco has declined to publish the survey’s data, saying that the finding are only “leads” and do not include the geological chances of success.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection