WTI Crude •11 mins	51.93	-0.43	-0.82%
Brent Crude •10 mins	54.58	-0.52	-0.94%
Natural Gas •11 mins	2.648	-0.089	-3.25%
Mars US •2 days	53.11	-1.51	-2.76%
Opec Basket •4 days	55.19	-0.62	-1.11%
Urals •26 days	42.22	+0.00	+0.00%
Louisiana Light •4 days	55.57	+0.56	+1.02%

	Louisiana Light • 4 days	55.57	+0.56	+1.02%
	Bonny Light • 3 days	54.33	-0.81	-1.47%
	Mexican Basket • 4 days	52.15	+0.24	+0.46%
	Natural Gas • 11 mins	2.648	-0.089	-3.25%
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Marine •3 days	55.42	-0.19	-0.34%
Murban •3 days	55.53	-0.35	-0.63%
Iran Heavy •3 days	50.99	-0.86	-1.66%
Basra Light •3 days	56.77	-1.07	-1.85%
Saharan Blend •3 days	54.43	-0.75	-1.36%
Bonny Light •3 days	54.33	-0.81	-1.47%

	Bonny Light • 3 days	54.33	-0.81	-1.47%
	Girassol • 3 days	55.35	-0.75	-1.34%
	Opec Basket • 4 days	55.19	-0.62	-1.11%
OPEC Members Monthly
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Canadian Crude Index •13 days	39.41	+1.59	+4.20%
Western Canadian Select •2 days	42.57	+1.06	+2.55%
Canadian Condensate •3 days	52.57	+0.66	+1.27%
Premium Synthetic •3 days	53.97	+0.66	+1.24%
Sweet Crude •2 days	48.57	+0.46	+0.96%
Peace Sour •2 days	47.32	+1.06	+2.29%

	Peace Sour • 2 days	47.32	+1.06	+2.29%
	Light Sour Blend • 2 days	49.07	+0.91	+1.89%
	Syncrude Sweet Premium • 2 days	50.67	+0.66	+1.32%
	Central Alberta • 2 days	47.32	+0.66	+1.41%
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Louisiana Light •4 days	55.57	+0.56	+1.02%
Domestic Swt. @ Cushing •3 days	48.75	-1.25	-2.50%
Giddings •3 days	42.50	-1.25	-2.86%
ANS West Coast •5 days	56.80	-0.43	-0.75%
West Texas Sour •3 days	46.31	-1.21	-2.55%
Eagle Ford •3 days	50.26	-1.21	-2.35%

	Eagle Ford • 3 days	50.26	-1.21	-2.35%
	Oklahoma Sweet • 3 days	48.75	-1.25	-2.50%
	Kansas Common • 4 days	43.75	+0.50	+1.16%
	Buena Vista • 4 days	59.46	+0.66	+1.12%
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Hopes are High as Drilling Set to Begin in Israel's Pelagic Natural Gas Fields

By Joao Peixe - Oct 18, 2012, 5:26 PM CDT

In recent times exploration companies have found large reserves of natural gas in the Eastern Mediterranean leading to many oil and gas companies racing to buy up offshore licenses in the area, especially around Israel and Cyprus; all hoping to make the next big find.

The Tamar and Leviathan fields, both off the coast of Israel, are two of the largest offshore discoveries in several decades. The Pelagic fields are situated near to the two monsters, and hopes are high that similar deposits may be found there.

The Ishai field is the first of five licenses that have been granted in the Pelagic region, about 160 kilometres off the coast of Israel, and initial estimates give it a capacity of 3.7 trillion cubic feet of gas.

Exploration drilling is set to begin in November, and last about three months.

The well will be operated by Norway’s AGR, who have a 5% stake. Israel opportunity has a 10% stake, and the Israeli billionaires Benny Steinmetz and Teddy Sagi each control 42.5% a piece.

By. Joao Peixe of Oilprice.com

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