Tamar Petroleum, which commenced its operations in 2017, is a new company in the Israeli energy market.
The company is a yield company which holds 16.75% of the rights in the Tamar and Dalit leases.
The production of natural gas from the Tamar Reservoir commenced in 2013. It supplies the natural gas consumption needs of the State of Israel and exports gas to Jordan.
In July 2017, Tamar Petroleum raised bonds and equity for the purchase of Delek Drilling LP’s holdings in the reservoir. The company’s Series A bonds are rated by Midroog Ltd. A1.il with a stable outlook. The terms and conditions of the bonds are as stated in the Indenture and the bonds are traded under the ticker symbol TMRP.B1.
In March 2018, the company acquired another 7.5% of the interests in Tamar out of the share of Noble Energy, by a series B bond raising in the sum of 560 million dollars, which too was awarded the high A1.il rating by Midroog Ltd. The terms and conditions of the bonds are stated in the indenture. Trading of Series B commenced on the Tel Aviv Stock Exchange on March 14, 2018.
Tamar Petroleum is destined to become a major player in the natural gas market in Israel, and will allow investors to benefit from full transparency of its activities, while maximizing the value of its holdings and distributing periodic dividends from the direct exposure to the Tamar and Dalit reservoirs