Delek’s US GOM Caesar Tonga Oil Acquisition Cancelled

(Globes, 12.May.2019) — One of the existing partners has exercised its first right of refusal on the rights in the Caesar Tonga oil field.

The share price of Delek Group Ltd. is down about 1% following an announcement by the company this morning that a deal for the purchase of 22.5% of the rights in the Caesar Tonga oil field in the Gulf of Mexico for $965 million has been cancelled. One of the existing partners in the field exercised its first right of refusal and will buy the rights instead.

Related Story: Equinor Boosts Stake In Caesar Tonga Field In Deepwater US Gulf Of Mexico

The Delek Group unit that made the deal will be repaid its $50 million deposit.

Delek Group reported a month ago that it was buying rights in the Caesar Tonga filed from energy giant Shell.

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