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Oil and gas company: Isramco, Inc. (ISRL) (1982)

Isramco, Inc. (NASDAQ: ISRL) was founded in 1982 and is headquartered in Houston, Texas, with 263 full-time employees. It is an independent oil and gas company engaged in onshore and offshore oil and gas exploration in Israel and the United States. Development and production operations.

Isramco Inc Logo

Isramco, Inc. (ISRL):

Isramco, Inc. is an independent oil and gas company with an oil well service company that provides various onshore oil well services to the oil industry, as well as an independent oil and gas production company operating in the United States.

Isramco, Inc. (ISRL) History:

In 1982, businessman Joseph Elmaleh founded Jerusalem Oil Exploration, Ltd. (JOEL);

  • In 1982, Elmaleh and Armand Hammer established a joint venture company-Isramco Inc., JOEL holds 35%;
  • In 1985, Isramco and other companies formed Negev 1 Limited Partnership Company (stopped operation in 1988);
  • In 1989, the same group of people established the Isramco Negev 2 Partnership;
  • In August 1995, Joe Elmaliach sold shares in JOEL and its subsidiaries, as well as shares in Isramco Inc. and two other state-owned companies, Naphtha Israel Petroleum Corporation and Israel Oil Exploration Ltd., to Pass-port Ltd for $17 million. ;
  • In 1997, Isramco Inc. entered the US market;
  • From 1998 to 2008, Isramco Negev 2 cooperated with Delek Group (TASE: DLEKG) and BG Group to continue its offshore drilling business in the Eastern Mediterranean region.

Isramco Negev 2 LP holds 28.5% of Tamar gas field, Noble Energy holds 36%, Delek Drilling holds 15.63%, Avner Oil Exploration holds 15.63%, and Dor Gas Exploration holds 4%.

At the same time, Isramco Negev 2 LP holds a 50% interest in Orr gas field.

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