Noble Sells 7.5% of Tamar Field

Sale values Tamar at $10.7 billion
Noble Energy announced the sale of part of its interest in the Tamar field yesterday. It is the company’s second Tamar divestment. Tamar is located in the Mediterranean Sea, east of the Leviathan field, offshore Israel.

Noble will sell a 7.5% interest in the field to Tamar Petroleum (ticker: TMRP) for $560 million in cash and 38.5 million shares of TMRP. Based on Tamar Petroleum’s closing price yesterday, the overall transaction has a value of $800 million. Noble expects to divest these shares over the nex...