The day after the Leviathan partners published estimates of the natural gas reserves in the structure, they published a revised minimum estimate. Netherland, Swell & Associates Inc. raised the minimum estimate of gas to 11.3 trillion cubic feet of gas with a 90% chance of success, from 10.5 trillion cubic feet.
The best estimate of 16 trillion cubic feet of gas with a 50% chance is unchanged from the preliminary estimate announced in December 2010. Yesterday, the partners said that the high-end estimate of contingent natural gas reserves in the structure is 21 trillion cubic feet, with a 10% chance of success, is 25% higher than the preliminary estimate.
The Leviathan partners are waiting for the results of the exploratory oil well.
Noble Energy Inc. (NYSE: NBL) owns 39.66% of Leviathan, Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) each own 22.67% and Ratio Oil Exploration (1992) LP (TASE:RATI.L) owns 15%.
Delek Group's share price rose 0.5% by mid-afternoon to NIS 914.40, Avner's share price fell 1% to NIS 2.44, Delek Drilling's share price fell 1.3% to NIS 13.44, and Ratio's share price rose 0.9% to NIS 0.587.
Published by Globes [online], Israel business news - www.globes-online.com - on March 30, 2011
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