Noble Energy To Sell Part Of Stake In Israel's Tamar Gas Field For $800 Million

Noble Energy Inc. (NYSE: NBL) will sell a 7.5% stake in the Tamar natural gas field offshore Israel to Tamar Petroleum Ltd. for about $800 million in cash and shares, the Houston-based oil and gas producer said Jan. 29. Noble will receive $560 million in cash and 38.5 million shares of Tamar Petroleum. The deal allows Noble to cut its holdings in Israel's only commercial gas field to 25% from 32.5%, complying with government plans to open the market to competition.
Source: Daily Dose of ShaleDirectories.com News

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