Shenandoah Phase A wells ramp-up is completed with 100,000 bbl/d
Beacon, the operator, has completed the ramp-up phase and reached production of 100,000 bbl/d in just 75 days;
the reservoir is expected to serve as a growth engine and a central source of cash flow for Navitas
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One of the Largest Equity Offerings on the Stock Exchange:
Navitas Attracts NIS 14 Billion in Demand. Navitas has completed one of the largest equity offerings on the Tel Aviv Stock Exchange in recent years. The partnership successfully raised over NIS 1.2 billion in capital
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Navitas Starts Production at Shenandoah
acquired for the price of a Sde Dov (Tel Aviv) apartment and now a USD 4 billion producing asset
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Production commenced at Navitas' flagship project, the Shenandoah field
Expects revenues of approx. USD 1 billion per year from the reservoir; full production at a rate of 100,000 barrels of oil per day is expected to begin this quarter;
Navitas currently records revenues of less than 100 million dollars per year – the strong rise in the stock in recent years has recently brought it into the TA-35 index
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Navitas makes another step toward production in the Shenandoah project; jumps 15%
Read moreNavitas' share price jumps by 14% following the successful drilling in a major project in the Gulf of America
Read moreNavitas has completed the last well in its flagship project in the Gulf of America
Read moreNavitas Petroleum will begin the first production drilling in Buckskin South Resovouir
The Israeli Oil Partnership will invest NIS 6.1 million in production drilling, according to its relative share in the reservoir (7.5%); drilling will begin next year
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Navitas makes final investment decision on Shenandoah project
Navitas Petroleum will invest $900 million in developing the Gulf of America oil reserve.
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