Noble Energy adjusts Leviathan estimate
Gas field's new estimate stands at 14-20 TCF as compared with 10.5-21 TCF six months ago. Ratio's share loses previously gained 5% following report
The new estimate published by the field operator is for 14-20 TCF, whereas the previous estimate from six months ago was for 10.5-21 TCF. Furthermore, the best prospect production forecast climbed from 15.8 TCF to 17 TCF.
Noble CEO Charles Davidson said, "This upward adjustment of the Leviathan 3 field resources is an encouraging sign for the company and its investors. We have also dispatched a team to the field in order to identify prospects for commercializing the field's gas."
In regards to the oil reservoir in the field, Noble Energy had nothing new to announce. The company's last estimate, also from six months ago, was for 3-4.2 billion barrels at a probability of 8%-17%.
Ownership of the Leviathan field is shared by Ratio (15%), Delek Energy through Delek Drilling and Avner (43.34%), and Noble Energy (39.66%).
Noble also announced that the development of the Tamar field was on schedule and was set to commence flow tests at the end of 2012. This validates the commercial development schedule according to which Tamar will be online by 2013.
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