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Israel’s Deepest Well Targets 1.5 Billion Barrels of Oil

Bloomberg -- The deepest oil well drilled in Israel’s 65-year history may be the most important.

Houston’s Noble Energy Inc. (NBL) will probe 6,500 meters (4 miles) below the Mediterranean seabed later this year, targeting as much as 1.5 billion barrels of crude, equal to about 15 years of Israeli demand.

While explorers have found enough natural gas in the past five years to turn Israel into an exporter, a major oil discovery would break new ground. The Middle East’s third-largest economy spends about $10 billion a year importing 98 percent of the oil it uses. Domestic production would increase tax revenue, boost the country’s balance of payments and reduce vulnerability to supply disruptions.


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Submitted Jul 19, 2013 By: Pielededrac
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Author Topic: Israel’s Deepest Well Targets 1.5 Billion Barrels of Oil Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Jul 23, 2013 5:41:39 AM

thanks for posting, pieled.
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KrsnaDragon
Champion Author Montreal

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Message Posted: Jul 20, 2013 7:04:30 AM

Very interesting news.
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Jul 20, 2013 4:11:30 AM

huge if successful
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oldmack
Champion Author Riverside

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Message Posted: Jul 20, 2013 3:20:25 AM

wow!
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JuicyQ69
All-Star Author San Bernardino

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Message Posted: Jul 20, 2013 2:48:50 AM

Old
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Double_Golden
Champion Author San Francisco

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Message Posted: Jul 20, 2013 12:48:08 AM

wow, that's a lot of oil, 1.5 billion barrels x $95 a barrel and up => 142.5 billion dollars...
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jetskijerry
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Message Posted: Jul 20, 2013 12:46:43 AM

could be
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neemund
Champion Author Seattle

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Message Posted: Jul 20, 2013 12:42:48 AM

Congrats to Israel. Stick it to their neighbors who want them dead.
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DocWyeth
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Message Posted: Jul 20, 2013 12:29:13 AM

good luck
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jetlagAK
Champion Author Anchorage

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Message Posted: Jul 20, 2013 12:26:24 AM

I hope the arab nations get good at selling sand. :)
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dongo50
Champion Author West Virginia

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Message Posted: Jul 20, 2013 12:22:27 AM

good
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bolobill
Champion Author Michigan

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Message Posted: Jul 20, 2013 12:21:45 AM

ok
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N5EXY
Champion Author Austin

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Message Posted: Jul 20, 2013 12:21:40 AM

Drill Drill Drill

[Edited by: N5EXY at 7/20/2013 12:23:17 AM EST]
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rap12MA
Champion Author Boston

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Message Posted: Jul 20, 2013 12:16:09 AM

This is just a probe.No verification yet.
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boatfloyd
Champion Author Jacksonville

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Message Posted: Jul 20, 2013 12:13:32 AM

Drill, Baby, Drill.
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vibdata
Champion Author Massachusetts

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Message Posted: Jul 20, 2013 12:02:52 AM

This sideways drilling has got to be controlled. I'm sure they're through to Saudi by now.

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SpankyMI
Champion Author Kalamazoo

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Message Posted: Jul 20, 2013 12:01:48 AM

This would be funny if it turns out to be the same pool of oil their neighbors in OPEC have been pumping for years.
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Chris46
Champion Author Dayton

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Message Posted: Jul 20, 2013 12:00:45 AM

But as we all know by now in America, it won't lower their gas prices.
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RevDrCBJ
Veteran Author Ann Arbor

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Message Posted: Jul 19, 2013 11:59:25 PM

Hmmm
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Buddy2264
Champion Author Tampa

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Message Posted: Jul 19, 2013 11:54:21 PM

I am guessing they will keep it for their own use, or as much as they can. But they are converting to electric vehicles in many areas.
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fenster66
Champion Author Pittsburgh

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Message Posted: Jul 19, 2013 11:52:52 PM

exciting news for Israel....
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silvolvo
All-Star Author Twin Cities

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Message Posted: Jul 19, 2013 11:52:47 PM

Good for them!
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Robert44
Champion Author Columbus

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Message Posted: Jul 19, 2013 11:51:02 PM

Way to go Israeli !!!!
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Jul 19, 2013 11:50:55 PM

Good for Israel! Now be smart and keep it for yourselves and don't export it! Help your own people with prices first, unlike America.
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smoketown
Champion Author Cincinnati

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Message Posted: Jul 19, 2013 11:50:32 PM

No biggie.
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mstearno
Champion Author Dayton

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Message Posted: Jul 19, 2013 11:50:30 PM

could we learn a lesson from this?
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LuckyLou1
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Message Posted: Jul 19, 2013 11:50:14 PM

I hope they're successful
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TLL59
All-Star Author Oklahoma

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Message Posted: Jul 19, 2013 11:48:13 PM

ok
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TBRR
Champion Author Jacksonville

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Message Posted: Jul 19, 2013 11:47:02 PM

good for them!!
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clermont40miles
Champion Author Cincinnati

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Message Posted: Jul 19, 2013 11:45:14 PM

Drill. Produce.

Good to see it happening.
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SavALot
Champion Author Virginia Beach

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Message Posted: Jul 19, 2013 11:44:45 PM

That's a while bunch of barrels!
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badharley
Champion Author Tampa

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Message Posted: Jul 19, 2013 11:42:13 PM

WOW.
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bojiway1
Champion Author Minnesota

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Message Posted: Jul 19, 2013 11:36:32 PM

Ok
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Pielededrac
Champion Author Florida

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Message Posted: Jul 19, 2013 11:34:41 PM

The fun thing I imagine is if the oil field Israel has found, would pump the oil from under the Arabs feet through communicating channels deep in the Earth crust.
That would be the greatest joke!
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DutchTreatMI
Champion Author Grand Rapids

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Message Posted: Jul 19, 2013 11:31:53 PM

Good for them.
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DustyHorse
Champion Author Virginia

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Message Posted: Jul 19, 2013 11:31:41 PM

I hope they make it.
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hcivic
Champion Author Virginia

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Message Posted: Jul 19, 2013 11:31:30 PM

good for them
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BREW9
Champion Author Tampa

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Message Posted: Jul 19, 2013 11:29:06 PM

deep
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KhelbenArunson
Champion Author Michigan

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Message Posted: Jul 19, 2013 11:28:12 PM

ok
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TravellinTom
Champion Author New York

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Message Posted: Jul 19, 2013 11:27:28 PM

Go for it Israel!!!
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gass12
Champion Author Omaha

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Message Posted: Jul 19, 2013 11:25:57 PM

That is deep.
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BoerneWatch
Champion Author San Antonio

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Message Posted: Jul 19, 2013 11:20:59 PM

I love the fact that this planet is filled with oil!

:-)
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FlyNFool
Champion Author South Carolina

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Message Posted: Jul 19, 2013 11:20:22 PM

OPEC loosing another customer?
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gta_guy
Champion Author Toronto

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Message Posted: Jul 19, 2013 11:16:48 PM

4 miles is a long way down!
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DrLyon
Champion Author Michigan

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Message Posted: Jul 19, 2013 11:14:22 PM

Be Noble...
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beachmanglen
Champion Author Tampa

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Message Posted: Jul 19, 2013 11:12:57 PM

Good for Noble Energy.
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wayoung56
Champion Author Alabama

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Message Posted: Jul 19, 2013 11:12:50 PM

Cool!!! Tell the Arabs to take their oil and pound sand...
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rawdog1313
Champion Author Lexington

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Message Posted: Jul 19, 2013 11:10:20 PM

OK....
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ScottTee
Champion Author Detroit

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Message Posted: Jul 19, 2013 11:08:21 PM

Interesting
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Marson
Champion Author Scranton

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Message Posted: Jul 19, 2013 11:07:49 PM

Seems like oil and gar are everywhere.
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