Israel’s Delek Drilling this week made a pitch to potential investors in a bid to raise $2.475bn (net of transaction costs) in a loan backed by the Leviathan field’s 22.8tcf of proved and probable recoverable reserves.

A 13 July presentation seeks to make the case that despite the acute financial problems of Delek Drilling’s parent company the Delek Group, an expected decades-long revenue stream from Leviathan means Delek Drilling’s long-term financial prospects are sound. (CONTINUED - 1487 WORDS)