Energy Business Review: Noble & Delek Mulls BIDS, Plains Buys Gulf OILFIELDS

Noble Energy, Inc. (NYSE:NBL) and Delek US Holdings, Inc. (NYSE:DK) have large interests in the consortium that develops the Leviathan natural gas field off Israel’s coast, and is considering bids from “leading international companies” to divest as much as 30 percent of the rights to the field. Leviathan holds estimated reserves of 17 trillion cubic feet of gas, and the group expects to discover 600 million barrels of oil as well.

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Plains Exploration & Production Company (NYSE:PXP), aside from its $5.55 billion acquisition of Gulf oilfields from BP, will purchase a 50 percent investment from Royal Dutch Shell (RDS.A)(RDS.B) in its offshore Holstein field, about100 miles south of New Orleans. This stake will cost Plains $560 million, and is expected to produce 7,400 barrels of energy equivalent per day, with an upside output potential.

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