Noble Energy Announces Another Significant Discovery in the Levant Basin Offshore Israel

abarrelfullabarrelfull wrote on 07 Feb 2012 13:39
Tags: delek israel noble upstream

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Noble Energy, Inc. (NYSE: NBL) announced today a natural gas discovery at the Tanin prospect offshore Israel. The discovery well was drilled to a depth of 18,212 feet and encountered approximately 130 feet of gross natural gas pay in high-quality lower Miocene sands. The Tanin well is located in the Alon A license, approximately 13 miles northwest of the Tamar field, and in 5,100 feet of water. Discovered gross resources are estimated to range(1) between 0.9 and 1.4 trillion cubic feet (Tcf) with a gross mean of 1.2 Tcf. This discovery de-risks other prospects located in the vicinity of Tanin.

The Tanin discovery is the sixth consecutive field discovery for Noble Energy and its partners in the Levant Basin. Four of the discovered fields have estimated gross mean resource sizes of over 1 Tcf. Including Tanin, total discovered gross mean resources in the Levant Basin are now estimated to be approximately 35 Tcf.

Noble Energy is the operator of the Alon A license with a 47.06 percent interest. Co-owners are Avner Oil and Delek Drilling each with a 26.47 percent interest.

(1) Range of resource estimate based on 75th and 25th percentile probabilities

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