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Noble Energy to sell part of Israel's Tamar field in cash and stock deal

Published 01/29/2018, 05:34 PM
© Reuters.  Noble Energy to sell part of Israel's Tamar field in cash and stock deal
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  • Noble Energy (NYSE:NBL) agrees to sell a 7.5% working interest in the Tamar field offshore Israel to Tamar Petroleum Ltd. for $560M plus 38.5M shares of the Israeli company.
  • NBL, which says the deal is part of a commitment to sell down its Tamar interest in accordance with Israel's government, will remain the operator and retain a 25% working interest after the closing of the transaction.
  • NBL says the deal follows an initial sale of 3.5% of the Tamar field in mid-2016; combined proceeds from both deals total nearly $1.25B, including nearly $1B in cash.
  • Now read: Liberty Oilfield Services Finalizes Proposed U.S. IPO Terms


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