A publicly traded US-based corporation that owns and operates retail energy providers.
Genie Oil and Gas (GOGAS) is an oil and gas exploration company. GOGAS currently holds an 86.1% interest in Afek, an oil and gas exploration project which operated in the southern portion of the occupied Syrian Golan, and 100% interest in Atid Oil & Gas, an on-shore drilling services venture in Israel.
In April 2013, Israeli government granted Afek a three-year petroleum exploration license covering 396.5 square kilometers in the southern part of the occupied Golan. In 2017, Afek suspended its drilling program in the Golan, stating that “there is no current plan for a next phase of Afek’s activity. Any future exploratory drilling would be contingent upon licensing and permitting. Afek may seek financing for any next phase of activity.”
In January 2017, the company established Atid Drilling Ltd. (Atid), which will serve as the primary drilling contractor for any future Afek drilling activities. Atid purchased a drilling rig and associated drilling equipment in 2017. The rig had drilled five exploratory oil and gas wells in the occupied Golan for Afek over the past two years and completed a water well.
Chairman of the Board: Howard Jonas
CEO: Michael Stein
Genie Energy Ltd owns 99.3% of its subsidiary, Genie Energy International Corporation, which owns 100% of GRE, and 92% of GOGAS. GOGAS holds an 86.1% interest in Afek, an oil and gas exploration project in Israel. GRE owns IDT Energy, Inc. (“IDT Energy”), Residents Energy, Inc. (“Residents Energy”), Town Square Energy, and Mirabito Natural Gas (“Mirabito”).
The company’s subsidiary in Israel is Genie Israel Holdings.
Other subsidiaries include Genie Energy UK Ltd
The company holds a joint venture with Energy Global Investments Pty Ltd. The company currently contracts with Dominion Transmission, Inc., National Fuel Supply, Williams Gas Pipeline and Texas Eastern Transmission, and utilizes the New York Independent System Operator, Inc., and 6 PJM Interconnection, LLC.
All the information contained in this page is valid until Sun 30/09/2018
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