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Navitas Petroleum

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Israeli petroleum exploration and development company

Navitas Petrochemical
Native nameנאוויטס פטרוליום
Company typePublic company
Traded asTASE: NVPT.L
IndustryPetroleum industry
Founded2015; 9 years ago (2015)
FounderGideon Tadmor
HeadquartersHerzliya, Israel
RevenueIncrease ₪42.919 million (2020)
Net incomeDecrease -₪15.912 million (2020)
Total assetsIncrease ₪287.399 million (2020)
Total equityIncrease ₪85.445 million (2020)
Websitewww.navitaspet.com
Footnotes / references

Navitas Petroleum is a publicly traded oil and natural gas exploration and production partnership focused on North America. Navitas is listed on the Tel Aviv Stock Exchange (TICKER: NVPT.L) and is part of the Tel-Aviv 125 index, which includes the largest traded companies in Tel Aviv. The company has offices in Herzliya, Israel, Houston, Texas, and London, UK.

Key Persons

Gideon Tadmor co-founded Navitas and serves as the partnership's executive chairman. Tadmor has previously held various leadership roles, including chairman of Delek Drilling Limited Partnership (NewMed Energy) and founder and CEO of Avner Oil and Gas LP. He has been a pioneer in major natural gas discoveries, including the Tamar, Leviathan, and Aphrodite fields offshore Israel and Cyprus. Tadmor and his team have been involved in the exploration, development, and production of oil and gas assets for over 30 years.  Other founding partners at Navitas include Koby Katz, the deputy chairman, who previously served as the Director General of the Israeli Ministry of National Infrastructure, Energy, and Water, as well as co-CEO of Delek Energy and chairman of Delek Drilling.

Amit Kornhauser is the CEO of Navitas Petroleum, having held the position since January 2022. Prior to this role, Kornhauser served as CFO of Navitas Petroleum for five years and, before that, was CFO of Delek Energy, which was involved in the establishment and leadership of Israeli offshore natural gas discoveries.

History

Navitas Petroleum began trading on the Tel Aviv Stock Exchange in October 2017. The partnership has focused on acquiring proven oil and gas discoveries mainly on early at stages of development. Since its inception, Navitas has raised over USD 2.2 billion in equity and debt from public markets. As of December 2023, Navitas' asset portfolio includes 10 oil and gas assets, comprising producing assets and proven discoveries in the United States Gulf of Mexico and the Falkland Islands.

Operations

Navitas Petroleum primary assets include the Buckskin and Shenandoah oil discoveries in the Gulf of Mexico off the coast of the United States, as well as the Sea Lion project in the Falkland Islands.

References

  1. Navitas Petroleum (26 March 2021). דוח שנתי ליום 31 בדצמבר 2020 (Annual Report to 31 December 2020) (PDF) (Report) (in Hebrew). p. C-5. Retrieved 19 May 2022.
  2. "Gideon Tadmor mulls Navitas Petroleum TASE IPO". Globes (in Hebrew). 27 October 2015. Retrieved 15 May 2019.
  3. "Israel's Navitas Petroleum plans Tel Aviv share sale". Reuters. 13 June 2017. Retrieved 15 May 2019.
  4. "Koby Katz: Executive Profile & Biography – Bloomberg". www.bloomberg.com. Retrieved 15 May 2019.
  5. "Chanan Wolf: Executive Profile & Biography – Bloomberg". www.bloomberg.com. Retrieved 15 May 2019.
  6. "Gideon Tadmor's Navitas lists on TASE". Globes (in Hebrew). 10 January 2017. Retrieved 15 May 2019.
  7. "MAYA TASE" (in Hebrew). Retrieved 15 May 2019.
  8. Presley, Jennifer (27 August 2021). "Shenandoah gets the green light". upstreamonline.com. Retrieved 12 August 2024.
  9. Shalev, Lior Gutman and Asaf (9 March 2018). "Navitas Petroleum Wins Bid for Gulf of Mexico Drilling Rights with $1.8 Million Offer". CTECH - www.calcalistech.com. Retrieved 12 August 2024.
  10. Čavčić, Melisa (24 January 2024). "As US firm lands Gulf of Mexico FPS commissioning gig, first oil still on track for late 2024". Offshore Energy. Retrieved 13 August 2024.
  11. Stewart, Robert (2 July 2024). "Delayed US Gulf project eyes 2025 start-up after shipyard incident". upstreamonline.com. Retrieved 13 August 2024.
  12. "Navitas raises stake in Buckskin project to 7.5%". Globes (in Hebrew). 17 December 2017. Retrieved 15 May 2019.
  13. "Successful Buckskin drilling boosts Navitas". Globes (in Hebrew). 28 October 2018. Retrieved 15 May 2019.
  14. "Fresh air for Falklands' oil industry: Navitas to become operator with Rockhopper, and Harbour exits". MercoPress. Retrieved 12 August 2024.
  15. Searancke, Russell; Esau, Iain (4 July 2024). "FPSO 'identified' for $1.2 billion Falkland Islands project, but finance an issue". upstreamonline.com. Retrieved 13 August 2024.
  16. "Navitas assessing FPSOs for Phase 1 offshore Falklands Sea Lion project". Offshore. 22 January 2024. Retrieved 13 August 2024.
  17. "Gulf E&P shows signs of recovery". www.offshore-mag.com. June 2018. Retrieved 15 May 2019.
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