Delek's Gulf of Mexico oil acquisition cancelled

Yitzhak Tshuva Photo: Tamar Matsafi

One of the existing partners has exercised its first right of refusal on the rights in the Caesar Tonga oil field.

The share price of Delek Group Ltd. (TASE: DLEKG) is down about 1% following an announcement by the company this morning that a deal for the purchase of 22.5% of the rights in the Caesar Tonga oil field in the Gulf of Mexico for $965 million has been cancelled. One of the existing partners in the field exercised its first right of refusal and will buy the rights instead.

The Delek Group unit that made the deal will be repaid its $50 million deposit.

Delek Group reported a month ago that it was buying rights in the Caesar Tonga filed from energy giant Shell.

Published by Globes, Israel business news - en.globes.co.il - on May 12, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Yitzhak Tshuva Photo: Tamar Matsafi
Yitzhak Tshuva Photo: Tamar Matsafi
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