Mediterranean Sea
Energean Targets $2 Billion in Revenue by 2023
Based on its current portfolio, East Mediterranean-focused gas producer Energean reported 2020 revenue of $336 million and $108 million EBITDAX.
Lebanon PM Approves Expansion of Area Claimed in Maritime Dispute with Israel
The amendment would add about 1,400 square km to the exclusive economic zone claimed by Lebanon in its original submission to the United Nations.
Israel’s Delek in Talks to Sell Tamar Gas Field Stake, Calcalist Reports
Delek owns a 22% stake in Tamar, which it is required to sell by year-end under a government framework to open the sector to competition.
Energy A&D Transactions from the Week of March 17, 2021
Here’s a snapshot of recent energy deals including the closing of the $465 million acquisition of Williston Basin private operator Bruin E&P by Enerplus plus a merger agreement between Houston-based oilfield services provider Frank’s International and Expro Group.
Energy A&D Transactions from the Week of March 10, 2021
Here’s a snapshot of recent energy deals including the closing of Riley Exploration Permian’s all-stock merger with Tengasco plus Chevron’s $1.32 billion buyout of Noble Midstream.
Subsea Pipeline Could Double Israeli Gas Exports to Egypt
The new pipeline would have an annual capacity of about 10 Bcm, according to the Israeli energy minister.
Israel, Cyprus Agree on Framework for Settling Offshore Gas Dispute
Development of the Aphrodite gas field in Cypriot waters has been held up because a small part of it stretches into Israel’s maritime zone and another gas field there. The Cypriot field was first discovered in 2011.
Energean’s First Gas from Israeli Fields Faces Possible Delay
Energean said on Jan. 21 there were delays in increasing the workforce building its FPSO vessel in Singapore, which was due to sail to Israel toward the end of the third quarter.
Energy A&D Transactions from the Week of Jan. 20, 2021
Here’s a snapshot of recent energy deals including the closing of ConocoPhillips’ $13.3 billion acquisition of Concho Resources, one of the largest independent shale producers in the Permian Basin.
Energean Approves Israel Gas Field Development
The Karish North field, which was discovered less than two years ago, is expected to start production in the second half of 2023, the company said in a statement.