Delek stock faces Ithaca's USD 860 million Canada deal

Published on 10/07/2026 at 09:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Delek Group reported ILS 4.4 billion in Q2 revenue on August 19, 2026, while Ithaca announced a Canadian expansion. The stock was last at ILS 8,243 on October 6.

Delek, IL0010841281, Illustration mit AI erstellt.

Delek Group stock (ISIN IL0010841281) was last quoted at ILS 8,243 on the Tel Aviv Stock Exchange on October 6, 2026, down 0.27 percent from the previous close of ILS 8,265. The latest strategic development came from Ithaca Energy, in which Delek has a relationship agreement, as TradingView reported on October 5, 2026.

Ithaca targets Canadian production

Ithaca agreed to acquire offshore assets from Suncor Energy for USD 860 million in cash, plus potential contingent consideration of up to USD 250 million. Completion is targeted for the first half of 2027 and depends on customary closing conditions, including Canadian regulatory approvals.

The assets include interests in Terra Nova and White Rose off Newfoundland and Labrador. The transaction adds 103 million barrels of oil equivalent in 2P reserves and is expected to support average production of 30,000 barrels of oil equivalent per day between 2027 and 2031, according to TradingView.

Q2 results set the financial base

Delek's investor-relations page identifies Q2 2026 as the latest financial report. The company reported ILS 4.4 billion in group revenue for the quarter and ILS 314 million in net profit attributable to shareholders, while total net profit reached ILS 532 million.

The Q2 presentation also lists ILS 500 million in dividends paid during the quarter. Average combined daily production from Ithaca and NewMed stood at 96,000 barrels of oil equivalent per day, giving the acquisition a direct strategic connection to Delek's existing energy portfolio.

Stock stays below yearly high

On October 6, 2026, Delek traded between ILS 8,200 and ILS 8,370, with a 52-week range of ILS 7,262 to ILS 11,837 and volume of 156,740 shares. The market capitalization stood at ILS 15.1 billion on the same date.

The price was 0.27 percent below the previous close, while the Canadian transaction adds a longer-term growth variable rather than an immediate earnings comparison. For investors, execution, financing and regulatory approval are the key checkpoints before the new assets can contribute to production.

Delek stock and the next checkpoint

Delek Group stock was last at ILS 8,243 on the TASE on October 6, 2026. The company is included in the TA-35 Index and operates across energy, financial services and real estate.