Noble Energy Closes Israel's Pinnacles Natural Gas Well
JERUSALEM, Aug 4 (Reuters) - Noble Energy closed its Pinnacles 1 natural gas well off Israel's Mediterranean coast due to a significant rise in the water flow rate that indicated the site was drying up, Noble's Israeli partners said on Sunday.
Pinnacles, with reserves of 1.3 billion cubic metres, started producing last year, helping supply Israel after Egypt stopped selling it gas. Noble said it would abandon it in 2014.
Noble owns 47 percent of Pinnacles, with Delek Drilling 25.5 percent and Avner Oil Exploration 23 percent. Delek and Avner's parent, Delek Group, holds 4.44 percent.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Fault at Israel's Tamar Gas Field Prompts Use of Dirtier Fuels (Sep 22)
- Leviathan Partners in Talks to Pipe Gas to Egypt Via Jordan (Aug 10)
- Deal Of The Month: Noble Energy Marches Out of Marcellus in Full $1.9B Exit (May 31)