Delek Drilling, Avner report higher profit

Delek Group's energy production units reported higher revenue and lower costs in the first quarter.

Offshore Gas

Delek Group Ltd. (TASE: DLEKG) energy exploration and production units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L) have reported higher profits from the sale of natural gas from the Tamar field and lower financing costs, in the first quarter of 2015.

Delek Drilling reported revenue after royalty payments of $51.4 million, up 5% from $48.8 million in the corresponding quarter of 2014. Production costs were $5.3 million, down from $5.7 million in the corresponding quarter of 2014. The lower costs were from operations at Tamar and Yam Tethys including transport, conveyance, salaries, consultancy, maintenance and insurance… [READ MORE]

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