Israeli News

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

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

acquired for the price of a Sde Dov (Tel Aviv) apartment and now a USD 4 billion producing asset

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

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

The Oil Exploration Partnership estimates that its flagship reservoir, Shenandoah, will generate USD 1.1 billion in revenue in its first year of production (2025). Since March this year, the partnership led by Tadmor, a former executive with Yitzhak Tshuva's Delek Group, has doubled in value to approximately NIS 3 billion

The oil and gas partnership published quarterly reports and updates on the progress of two of its huge projects - Production of oil at the Shenandoah project is expected to begin at the end of next year, and Navitas will announce its final investment decision in Monument next month

The net profit almost tripled; Shenandoah's progress continues alongside Buckskin development; The partnership is expected to receive a final investment decision (FID) for the development of the Monument Reservoir adjacent to the Shenandoah Reservoir

With the start of production from Shenandoah, the partnership expects the annual revenue to jump up to 1.14 billion dollars, assuming an oil price of about 78 dollars per oil barrel. The partnership's revenue last year was 120 million dollars

In the third quarter, the oil partnership's net profit increased by 60%; since the beginning of the year, the profit has increased by 200%.

Gideon Tadmor's Israeli oil and gas partnership will join the Monument reservoir, $300 million has already been invested in its development; Navitas will pay $12 million for 20% of the asset, and it is expected to generate $20 million annually.

Navitas Petroleum will invest $900 million in developing the Gulf of America oil reserve.