Loading...

Who We Are

//Who We Are
Who We Are 2017-10-03T10:42:46+00:00

WHO WE ARE

Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med. With major finds in the Levant Basin, including Leviathan (21.4 TCF) and Tamar (11.2 TCF) and others, Delek is leading the region’s development into a major natural gas export hub. In addition, Delek has embarked on an international expansion with a focus on high-potential opportunities in the North Sea and North America. Delek Group is one of Israel’s largest and most prominent companies with a consistent track record of growth. Its shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index.

BECOMING AN E&P PURE PLAY

From its founding in the 1950s until 2013, Delek Group was a successful conglomerate that managed diversified holdings in both energy and other sectors. In the late 1990s, pursuing Management’s assessment of the strong hydrocarbon potential of the East Med region offshore Israel, the Company initiated accelerated exploration activities, efforts that paid off in the 2000s with a number of major natural gas discoveries. In light of these discoveries, Delek Group began a process of focusing to become an E&P pure play and to divest all non energy-related assets.

By 2017, Delek Group had nearly completed the divestment process. The proceeds from these sales are being redeployed to build an international arm for the Company’s E&P activities to complement its well-established East Med E&P operations.

In June 2017, Delek completed acquisition of 100% of Ithaca Energy, an oil and gas operator focused on the North Sea with proven experience in offshore drilling. Ithaca brings Delek significant operational capabilities while enhancing its geographical diversification and increasing its expected average daily production.

Delek continues to seek out additional synergistic and strategic opportunities, especially in North America and the North Sea.

UNLOCKING THE EAST MED’S E&P DNA

The discoveries made by Delek and its partners have put the Levant Basin on the hydrocarbon map. Delek Group’s asset portfolio represents the most levered exposure to the East Med story.

Delek Group is focused on becoming an international E&P pure play.

DIFFERENTIATING FACTORS

  • Most concentrated exposure to the East Med: the Levant Basin is one of the world’s most promising but least-explored hydrocarbon provinces.
  • Financial strength: Delek Group’s sound economic footing and nimble decision-making structure enable it to take advantage of exceptional E&P opportunities throughout the world.
  • High dividend yields: Delek Group has one of the TA35’s highest and most consistent dividend yields.
  • Overriding royalty ownership: Delek Group benefits from the overriding royalties to which it is entitled from the current and future producing assets in the East Med reservoirs that it has discovered.
  • Growth potential: Delek Group is actively expanding beyond its existing base to enter the international E&P arena.

SUGGESTED LINKS

WHO WE ARE

Delek is an independent E&P and the pioneering visionary behind the development of the East Med.

Read More

STRATEGY

Delek’s strategy is to complete the divestment of its non-core assets and to become an international E&P pure-play.

Read More

HISTORY

Founded in 1951, Delek is evolving to become an international E&P pure play.

Read More