Israel-listed E&P limited partnership built around US Gulf of Mexico deepwater — Shenandoah (~49% interest) achieved first oil in the 2025/26 window and is the core value driver as it ramps toward peak facility rates.
Levered project-finance model with large upside optionality: Sea Lion (Falklands) development and GoM tie-backs offer growth, but net debt, single-asset concentration and non-SEC-filer disclosure make it a high-risk, high-torque story.
Its EV/EBITDA of 15.0x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of -2.2% is lower than the 6.5% median, and at $24.00/boe of proved reserves it is richer than the $13.51/boe median.
On a balanced screen across the universe, Navitas Petroleum scores 46/100, strongest on growth (98/100). Sub-scores: value 20, quality 60, growth 98, risk 57 (higher = riskier).
Navitas Petroleum holds approximately 0.25 billion boe of proved (1P) reserves with FY2025 production of about 55 thousand boe/d (90% liquids), a reserve life of roughly 12.5 years. Break-even: ~$40 (Brent FCF breakeven) — Low-breakeven Shenandoah deepwater development; group cash breakeven pressured by project-finance debt service during ramp.
For Navitas Petroleum, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| United States | 70% | 23 | Stable, deep; federal-lands leasing and permitting policy swings. |
| Falklands | 20% | 14 | UK territory but Argentina sovereignty claim clouds offshore development. |
| Israel | 10% | 39 | OECD but conflict-exposed; gas export/security constraints. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Asset | Country | Type | note |
| Shenandoah | United States | GoM deepwater oil | ~49% non-operated WI; first oil 2025/26; core value driver |
| Buckskin | United States | GoM deepwater oil | producing; small working interest |
| Sea Lion | Falklands | Offshore oil development | ~65% operated interest; large resource, development/financing phase |
| Shenandoah tie-backs | United States | GoM deepwater oil | future subsea tie-back / infill upside |
| Israeli offshore licenses | Israel | Offshore exploration | small exploration interests |
| Buckskin expansion | United States | GoM deepwater oil | infill / expansion potential |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 1 | 2 | 3 | 4 | 55 |
| Proved reserves (bnboe) | 0.08 | 0.10 | 0.12 | 0.14 | 0.25 |
| Revenue ($bn) | 0.1 | 0.1 | 0.1 | 0.1 | 0.6 |
| EBITDA ($bn) | 0.0 | 0.0 | 0.0 | 0.1 | 0.4 |
| Net income ($bn) | -0.1 | -0.1 | -0.1 | -0.1 | 0.2 |
| Free cash flow ($bn) | -0.3 | -0.5 | -0.6 | -0.5 | -0.1 |
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✓ FY2025 figures verified against primary sources:
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