Israel's Delek Group partners in Gulf of Mexico drilling

GulfSlope Energy

08/01/2018 09:38

JERUSALEM, Jan 8 (Reuters) -  
    * Israel's Delek Group  DLEKG.TA  said on Monday it has 
signed a 
deal with GulfSlope Energy  GSPE.PK  and Texas South Energy 
 TXSO.PK  to explore 12 concessions in the Gulf of Mexico. 
    * Delek, through a foreign subsidiary, agreed to cover 90 
percent 
of the costs for the first two drill sites - up to $50 million - 
in exchange for 75 percent of the rights in those prospective 
drilling sites at the first stage. 
    * Delek said it will use its own funds for the project and 
will 
have the option to buy rights in the other concessions as well. 
    * A third-party resource report showed a first stage best 
estimate 
of 99 million barrels of oil and 177 billion cubic feet of 
natural gas, Delek said. 
 
 
 (Reporting by Ari Rabinovitch; Editing by Steven Scheer) 
 ((ari.rabinovitch@thomsonreuters.com;  +972-2-632-2202; Reuters 
Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net)) 
 
Keywords: DELEK GROUP GULFMEXICO/