Atwood Oceanics will provide its Beacon 3 rig for 180 days at $151,000 per day.
Shemen Oil and Gas Resources Ltd. (TASE: SMOG) has hired a rig from Atwood Oceanics Worldwide Ltd. (NYSE: ATW) to drill at the Yam 3 prospect in September 2012 at a cost of $8 million. Atwood will provide its jack-up Atwood Beacon 3 rig for 180 days at $151,000 per day.
Shemen Oil is continuing its negotiations for a drilling permit from the Ministry of Defense. In November, the company hired former IDF chief of staff Lt.-Gen. Gabi Ashkenazi as its chairman. A month later, it raised NIS 120 million in its IPO.
Shemen Oil's share price rose 0.5% in early trading to NIS 0.20, giving a market cap of NIS 631 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 7, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012