Lapidoth Israel Oil Prospectors Corp. Ltd. is the forerunner of onshore oil prospectors in Israel. The company was incorporated in 1959 and privatized several years ago. Currently, its securities are being traded in the Tel Aviv Stock Exchange.
Lapidoth has specialized in the design and operations of onshore oil or gas drilling and production activities for more than five decades. These activities include the provision of all auxiliary services related to exploration and production. Since its inception the company has drilled over four hundred onshore wells of various depths in Israel and worldwide. It has also discovered and developed the Israeli Heletz Oil Field (from which more than 17 million oil barrels were produced to date). Over the years, Lapidoth has expanded its scope of activities to include drilling of water wells, monitoring production, research drilling and soil sampling. Furthermore, the company is currently the controlling holder of Lapidoth-Heletz Limited Partnership. This Limited Partnership was incorporated in 2004 for the purpose of executing oil and gas explorations in Israel and is also listed in the Tel Aviv Stock Exchange.
Lapidoth considers itself a “one stop shop” that provides all major services that may be required by operators, including drilling, logging, cementing, production, petrophysics, reservoir engineering, logistics, research drilling and soil sampling. All these services are available as a “package deal” or on a “stand alone” basis.
In additions to its “traditional” operations, Lapidoth uses its positive cash flow to execute various financial transactions.