Israel's Delek Group confirmed on April 28 it submitted a proposal through its Ithaca unit to buy Chevron's oil and gas fields in the British North Sea.
Last week Reuters reported that Delek was close to clinching Chevron's oil and gas fields in the British North Sea, which have a price tag of about $2 billion.
Delek, in a regulatory filing in Tel Aviv, said it was in discussions to buy Chevron's gas fields as part of its strategy to expand its international operations but did not provide financial details. It said the discussions centered on Chevron's natural gas and oil fields in Britain's North Sea—Alba, Alder and Britannia, as well as a number of satellites.
Delek said it believed that if deal is reached, it could be completed in 2019 and would be financed through bank loans and its own resources.
The acquisition would mark another step for Delek towards its expected public listing, the sources said. The company earlier this month acquired Shell's 22.45% stake in the Caesar-Tonga field in the U.S. Gulf of Mexico for $965 million.
Recommended Reading
Arena Energy Acquires Cox Operating's GOM Shelf Properties
2023-01-25 - Arena Energy's acquired interests add to the company's ownership interest in the Eugene Island 330 and South Marsh 128 fields in the U.S. Gulf of Mexico.
Diamondback Energy to Acquire Lario Permian for $1.55 Billion
2022-11-16 - The acquisition of Lario Permian follows Diamondback Energy’s agreement to acquire FireBird Energy in the Midland Basin last month.
Diamondback Energy Completes FireBird Acquisition for $1.75 Billion
2022-12-01 - Diamondback Energy’s FireBird transaction is part of a duo of billion-dollar acquisitions in the Midland Basin the company announced in the fourth quarter.
Diamondback Closes $1.55 Billion Lario Acquisition, Boosting Midland Basin Inventory
2023-02-01 - With the Lario Permian deal closed, Diamondback wraps up a pair of fourth-quarter 2022 deals in which it purchased private Midland Basin operators for a total of about $3.3 billion.
State of Shale 2023, Permian: The Juggernaut is Tested
2022-12-30 - The Permian remained the center of the oil shale universe in 2022, but operators grappled with inflation, supply chain woes and labor shortages.