Delek Drilling, Avner Oil raise $2B for Leviathan field development

Delek Drilling and Avner Oil have raised $2 billion in an international bond offering to help fund the development of the Leviathan natural gas field offshore Israel, according to Reuters.

Avner and Delek Drilling are major shareholders in the group developing Leviathan, which holds an estimated 19 trillion cubic feet of gas and is expected to go online around 2017. Much of the reserves are earmarked for export.

Reuters noted that Noble Energy is the field's operator, with a 39.66% stake. Avner and Delek Drilling, subsidiaries of Delek Group, hold a combined 45.34%, and Ratio Oil holds 15%.

 

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