Navitas Petroleum

What Navitas Petroleum does

Navitas Petroleum LP is an international independent oil and gas exploration and production (E&P) partnership listed on the Tel Aviv Stock Exchange (NVPT.L) under the TA-35 index, founded in 2017 and headquartered in Herzliya, Israel, with operational offices in Houston (US), London and Aberdeen (UK), and Stanley (Falkland Islands). The company acquires, finances, and develops offshore deepwater and ultra-deepwater oil and gas assets alongside best-in-class operating partners, with a portfolio spanning producing fields (Shenandoah at 49% working interest, Buckskin at 7.5%), near-term developments (Monument, Shenandoah South), the greenfield Sea Lion project in the Falkland Islands (operated through subsidiary NPDP with Rockhopper as partner), the PL001 exploration license (65% operated), and conventional onshore Texas assets (Denbury JV and Neches). Its core technical competencies lie in subsea tie-back developments centered on the Shenandoah Floating Production System infrastructure hub, FPSO operations (reusing Bluewater's Aoka Mizu FPSO for Sea Lion), and conventional onshore production, with reserves totaling 1,127 MMBOE (2P+2C).

The company's business model is upstream E&P: revenue is generated through the sale of crude oil, natural gas, and NGLs at market prices from its working-interest share of production, with 2025 annual revenue of $365 million (net of royalties) and EBITDA of $262 million. Navitas finances development through a mix of public debt (multiple TASE-listed debenture series totaling over ₪2 billion between 2023 and 2025), equity participation units, and reserve-based lending (a $1.35 billion RBL facility executed January 2026). Its go-to-market is B2B, targeting institutional investors, energy sector participants, and joint-venture partners (Beacon Offshore Energy, Talos Energy, LLOG Exploration, Rockhopper, ExxonMobil/PO&G Resources), with commodity distribution handled through midstream and marketing agreements. The company's strategic intent is to identify premier assets with proven resources where substantial prior capital has been invested, finance and develop them alongside operating partners, and generate returns through production revenue and asset appreciation — demonstrated by its acquisition of Shenandoah after $1.8B in prior investment, transformation into operator of Sea Lion in 2021, and ongoing entry into Guyana and South Africa via farm-in agreements.

Name

Navitas Petroleum

Legal name

Navitas Petroleum LP

Website

https://navitaspet.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Navitas Petroleum is a publicly traded independent oil and gas exploration and production partnership (TASE: NVPT.L) that acquires, finances, and develops deepwater offshore assets alongside operating partners across the US Gulf of America, Falkland Islands, and onshore Texas.

Ownership category

akta.pro rank

Product category

Offshore Oil and Gas Exploration & Production

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (211)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

akta.pro secondary industry

Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL)

Keywords

• Offshore oil exploration
• Deepwater oil production
• Natural gas extraction
• Upstream E&P operations
• Subsea field development

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Oil and Gas Production Revenue: Navitas generates revenue through production and sale of oil, natural gas, and NGLs from its portfolio of offshore deepwater fields (Shenandoah, Buckskin, Monument, Sea Lion) and onshore Texas assets. Revenue is driven by production volumes and commodity prices, with the company reporting $365 million in 2025 annual revenue, net of royalties.
2. Capital Gains from Asset Development: The company creates value by acquiring assets with proven reserves at attractive valuations, financing development, and partnering with operators to bring projects to production, generating returns through production revenue and asset appreciation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Navitas Petroleum is an international independent oil and gas exploration and production partnership that acquires, finances, develops, and operates offshore and onshore upstream assets. The company holds working interests in producing and development fields primarily in the US Gulf of America (Shenandoah, Buckskin, Monument, Shenandoah South) and the Falkland Islands (Sea Lion, PL001), generating revenue through the sale of produced crude oil, natural gas, and NGLs at market prices.

Product overview

Navitas Petroleum is an international independent oil and gas exploration and production partnership operating a portfolio of offshore and onshore assets. The company operates as a single unified business focused on upstream E&P activities, with major producing and development assets in North America (US Gulf of America deepwater fields including Shenandoah, Buckskin, Monument, Shenandoah South, and onshore Texas assets Denbury and Neches) and the South Atlantic region (Sea Lion development and PL001 exploration license in the Falkland Islands). The portfolio is structured around deepwater offshore hubs, particularly the Shenandoah FPS serving as infrastructure for multiple subsea tie-back developments, with assets spanning the full upstream lifecycle from exploration through production. 2025 annual revenue was $365 million with EBITDA of $262 million, and discovered resources of 1,127 MMBOE (2P+2C).

Differentiator

Problem solved

Functional benefit

Products and services

• Shenandoah Proven deepwater oil and gas field in the US Gulf of America that began production in July 2025. Navitas holds a 49% working interest. Development is anchored by an FPS with capacity of 100,000 BOPD initially, expanded to 120,000 BOPD and planned to reach 140,000 BOPD.
• Buckskin Prolific deepwater oil and gas field in the US Gulf of America producing since 2019. Navitas holds 7.5% working interest with 22 MMBOE (2P) and 6 MMBOE (2C) reserves. Tied back to Oxy's Lucius Spar design platform.
• Monument Proven oil and gas field in deepwater US Gulf of America, approximately 27 km from Shenandoah FPS. Under development as a two-well subsea tie-back. Navitas holds 28.57% working interest with 32 MMBOE (2P) reserves. First oil expected end of 2026.
• Shenandoah South Oil and gas discovery in deepwater Gulf of America adjacent to Shenandoah field. Navitas owns 41.85% working interest with 19 MMBOE (2P) reserves. FID taken July 2025, First Oil expected Q2 2028.
• Denbury Onshore JV Four conventional oil and gas assets in southeast Texas: Webster, Thompson, Manvel and East Hastings fields. Navitas holds 50% working interest with 10 MMBOE (2P) reserves. Operators include ExxonMobil and PO&G Resources.
• Neches Onshore conventional oil and gas asset in East Texas. Navitas operates and holds 98% working interest in this 9,400-acre field with 4 MMBOE (2P) reserves.
• Sea Lion Significant oil discovery located approximately 220km north of Falkland Islands in Production Licences PL032 and PL004b. FID reached December 2025. Phase 1 targets 170 million barrels with peak production of approximately 50,000 barrels per day. First oil planned March 2028. Navitas subsidiary NPDP operates with Rockhopper as partner.
• PL001 Exploration license in North Falklands Basin covering approximately 1,126 km². Navitas acquired 65% operated interest. Adjacent to Sea Lion Discovery with prospects within tie-back distance. 912 MMBOE Navitas prospective resources. Forty prospects identified with over 1.3 billion barrels certified by NSAI.

Quantifiable outcome

• Shenandoah reached 100,000 bbl/d production in 2025
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core, strategic and legacy.

• JHI AssociatescoreStrategic or Co-development Partner · 12 January 2026Navitas signed a Memorandum of Agreement to acquire 65% working interest in the PL001 North Falklands Basin Licence from JHI Associates. The licence covers 1,126 sq km adjacent to the Sea Lion Development with estimated exploration potential of 3.1 billion barrels. The acquisition was confirmed in March 2026.
• Eco (Atlantic) Oil & GasstrategicStrategic or Co-development Partner · 4 December 2025Eco Atlantic and Navitas entered a binding Framework Agreement for exploration partnership covering the Orinduik Block offshore Guyana and Block 1 CBK offshore South Africa. Navitas gains exclusive options to farm into these assets for combined payments of $6.5 million, with Navitas becoming operator upon exercise.
• Rockhopper ExplorationcoreStrategic or Co-development Partner · 1 December 2025Rockhopper Exploration is Navitas's partner in the Sea Lion oil field development in the Falkland Islands. Both companies approved the $2.1 billion FID for Phase 1 development in December 2025, targeting first oil by March 2028. Rockhopper is funding its equity share through a $142 million placing. Phase 1 involves drilling 11 subsea wells tied back to the Aoka Mizu FPSO.
• Beacon Offshore EnergycoreStrategic or Co-development PartnerBeacon Offshore Energy operates the Shenandoah and Monument fields in the US Gulf of Mexico where Navitas holds 49% and approximately 28.57% working interests respectively. Beacon launched the Shenandoah FPS in 2024 and production commenced July 2025. Monument development drilling began in 2026.
• Talos EnergystrategicStrategic or Co-development PartnerTalos Energy is mentioned alongside Beacon and Navitas as partners in the Monument field development, with Talos planning appraisal drilling at the Daenerys discovery and completing Cardona and CPN wells. Talos reported Q1 2026 production of 88.8 MBo/d.
• HEQ DeepwaterstrategicStrategic or Co-development PartnerHEQ Deepwater co-owns the Shenandoah ultra deepwater oil field with Beacon Offshore Energy. In 2026, both companies launched a sale process for 51% of their stakes in Shenandoah, attracting interest from Shell, BP, Repsol, and Chevron.
• ExxonMobillegacyStrategic or Co-development PartnerExxonMobil acquired Denbury and held interests in the Webster and Thompson fields in Texas. In Q1 2025, ExxonMobil sold its interests to PO&G Resources. Navitas holds 50% working interest in these assets as operator.
• LLOG ExplorationstrategicStrategic or Co-development PartnerLLOG Exploration is the operator of the Buckskin field in the US Gulf of America where Navitas holds 7.5% working interest. Buckskin began producing in 2019 with production exceeding expectations.
• PO&G ResourceslegacyStrategic or Co-development PartnerPO&G Resources acquired ExxonMobil's interests in the Webster and Thompson fields in Texas in Q1 2025, becoming a partner alongside Navitas in these onshore assets.
• BluewatercoreStrategic or Co-development PartnerBluewater's Aoka Mizu FPSO is being reused for the Sea Lion development, representing innovative asset reuse that compressed development timelines and saved costs. This contractor-to-partner model was a key factor in the Sea Lion FID.

Scale indicators11 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Beacon Offshore Energy: Operator of Shenandoah and Monument in the US Gulf of America. Highly comparable in deepwater Gulf exposure, infrastructure-led tie-back strategy, and partnership economics.
• Kosmos Energy: Independent deepwater-focused E&P with offshore production in West Africa and Mauritania. Closely comparable to Navitas in scale, deepwater focus, and partnership/JV-driven development model.
• Talos Energy: US Gulf of Mexico-focused independent E&P that operates alongside Navitas in the Monument and Daenerys developments. Same basin, same deepwater play, similar working-interest-partner model.
• LLOG Exploration: Private deepwater Gulf of Mexico operator (Buckskin) with a long track record of subsea tie-back developments. Direct operator peer for Navitas's Buckskin and adjacent Gulf acreage.
• Rockhopper Exploration: Partner with Navitas in Sea Lion (Falkland Islands). Small-cap independent with a similar exploration-led, single-asset-concentration profile and a comparable partnership/joint-development model.
• Pharos Energy: Mid-cap independent E&P with offshore Vietnam, Egypt, and other frontier-to-mature assets. Similar size, partnership-driven model, and offshore/development focus.
• Murphy Oil Corporation: US-headquartered independent E&P with offshore and onshore production. Ian Ramsay, CEO of Navitas's UK subsidiary, was previously a VP at Murphy, and the companies share an offshore production and development orientation.

Emerging players

• Eco (Atlantic) Oil & Gas: Early-stage exploration company with West Africa and South Africa acreage. Navitas holds farm-in options on its Orinduik (Guyana) and Block 1 CBK (South Africa) licenses, making it a directly comparable emerging offshore exploration peer.

Broad incumbents

• Tullow Oil: International independent E&P with offshore West Africa and exploration-led growth model. Multiple Navitas senior staff (Aleks Armstrong, Carl Palmer, Harry Davis) came from Tullow, and the company is a frequent co-investor in frontier offshore opportunities.
• Hess Corporation: Major independent with deepwater Gulf of America and offshore Guyana operations. Multiple Navitas executives (Milton Chaves, Wynne Harvey, Jordan Davis) were formerly at Hess, and the company is a broad incumbent in the same offshore plays.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCLFsCzpZaUJs3XmfMrwBu1g/featured
• LinkedInlinkedin.com/company/navitas-petroleum

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Navitas Petroleum