WorldWide Drilling Resource

The Future Shines Bright for Drilling in Israel Compiled by Caleb Whitaker Associate Editor WorldWide Drilling Resource ® New Jersey-based Genie Energy has announced it is establishing Atid Drilling Ltd., an onshore drilling services venture based in Israel. Approximately 300,000 barrels of oil are consumed daily in Israel, but it’s largely imported. As a result, the Ministry of Energy and Water Resources promotes oil and natural gas exploration both onshore and offshore Israel. Early exploration efforts did not result in great success; however, in the last decade, the status of the country as an energy producer has grown, and the entire economy has been greatly affect- ed as increased drilling success occurs. Yet, few Israeli operators have provided the physical drilling services to the compa- nies overseeing these projects. Atid will pursue drilling opportunities for clients in a variety of fields, including oil and gas exploration, water resource development, and mineral exploration. Atid CEO Geoffrey Rochwarger said, “It is our inten- tion for this to be an Israeli drilling company. Our goal is to have it run, maintained, and operated by Israeli citizens who we are going to train. Yes, it’s owned by an American com- pany, but for all intents and purposes we are viewing this as an Israeli company.” In Hebrew, the name of the company means “future”. Rochwarger explained, “The name Atid was chosen for a reason, because we really do believe that there is a significant opportunity and future not only for an advanced drilling company in Israel, but really in the entire region.” Atid anticipates partnering with international drilling services experts, including Rainmaker Ltd., which specializes in management, execution, and completion of oil and gas drilling projects with an expanding focus to include exploration and development of water resources in the Middle East. Rochwarger said, "Atid will bring together an experienced operations team, international partners who will provide additional technical expertise in the planning and execution of projects, and a high-capa- bi l ity dri l l ing rig based in Israel and equipped to operate at depths up to [6500 feet]." The company purchased drilling equipment and a rig, which was suc- cessfully used by Genie’s subsidiary company Afek Oil and Gas to drill five exploratory oil and gas wells in Golan Heights over the past two years, and a recently completed water well to aid farmers with a current drought. One of Atid’s main objectives is to work along- side Afek and spud exploration wells as part of the current exploration program in Golan Heights, while continuing to pursue water drilling projects in Israel and neighboring countries. Courtesy of Genie Energy. 19 WorldWide Drilling Resource ® NOVEMBER 2017