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Navitas says Gulf of Mexico field has 155 mln barrels of oil

Navitas says Gulf of Mexico field has 155 mln barrels of oil

May 7, 2018

* Israel’s Navitas Petroleum LP said on Sunday the Shenandoah field in the Gulf of Mexico has estimated reserves of 155 million barrels of oil, according to a report prepared by U.S. advisory firm DeGolyer and MacNaughton.

* It bought the field in April as a result of bankruptcy proceedings for Cobalt International Energy.

 * The field, located offshore Louisiana, increases Navitas’ share in U.S. oil reserves to 100 million barrels, the company said. (Reporting by Tova Cohen, Editing by Ari Rabinovitch)
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