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Wednesday, December 24, 2014

Israeli gas group may seek arbitration in row with regulator, (NYSE: NBL)

The group that controls two large gas fields off Israel's shores could seek international arbitration to defend its assets, it said on Wednesday, a day after an Israeli regulator raised the prospect of it being stripped of some of its holdings.The U.S.-Israeli consortium said it had been blindsided by the announcement from Israel's antitrust regulator that it might be deemed a monopoly over its control of the newfound Leviathan and Tamar gas fields.Gideon Tadmor, chairman of Delek Drilling and CEO of Avner Oil, said the consortium -- which also includes U.S. group Noble Energy -- had not made any decisions, but that international arbitration was an option."I don't want to minimise the significance of what happened," he told a conference call with analysts and investors.

Noble Energy, Inc. (Noble Energy) is an independent energy company engaged in worldwide oil and gas exploration and production. Shares of NBL fell by 3.87% or $-1.97/share to $48.98. In the past year, the shares have traded as low as $42.11 and as high as $79.63. On average, 3535330 shares of NBL exchange hands on a given day and today's volume is recorded at 6276756.