Nati Yefet
Avner and Delek Drilling saw profits rise in the third quarter due to higher natural gas production.
Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE:AVNR.L) and Delek Drilling LP (TASE: DEDR.L) reported a rise in Tamar natural gas production in their third quarter financial results. During the third quarter of 2016, the Tamar gas field produced 2.6 billion cubic meters (BCM) of natural gas compared with 2.5 BCM in the corresponding quarter of 2015 and 2.3 BCM in the preceding quarter of 2016, and 2.2 BCM in the first quarter of 2016.
The well also produced 127,000 barrels of condensate in the third quarter compared with 117,000 in the corresponding quarter of 2015, 110,000 in the preceding quarter of 2016 and 104,000 in the first quarter of 2016.
As a result Avner reported a net profit of $39.7 million in the third quarter of 2016, up from $36.8 million in the corresponding quarter of 2015, $31.4 million in the preceding quarter and $31.8 million in the first quarter of 2016. Delek Drilling reported a net profit of $41.1 million in the third quarter of 2016, up from $38.3 million in the corresponding quarter of 2015, $33.3 million in the preceding quarter and $34.3 million in the first quarter of 2016.
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