Navitas Petroleum Limited Partnership, IL0011419699

Navitas Petroleum stock faces a new Sea Lion contractor exit

Published on 10/08/2026 at 09:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Navitas Petroleum stock saw Halliburton rule out Sea Lion work on October 7, 2026. H1 revenue reached USD 517.2 million as units traded at ILA 10,810.

Navitas Petroleum Limited Partnership, IL0011419699, Illustration mit AI erstellt.

Navitas Petroleum Limited Partnership (ISIN IL0011419699) was last at ILA 10,810 on the Tel Aviv Stock Exchange on October 8, 2026, up 0.65 percent from ILA 10,740. The immediate company issue is Sea Lion, where Halliburton ruled out work after Argentine authorities raised questions over potential enforcement, according to Ocean Energy Resources on October 7, 2026.

Halliburton exit raises execution pressure

Halliburton said neither it nor its subsidiaries would conduct work on Sea Lion, the offshore project operated by Navitas with a 65 percent interest. The remaining 35 percent belongs to Rockhopper Exploration, while the project is targeted to begin production in 2028, according to the same October 7 report from Ocean Energy Resources.

The contractor development follows Navitas's October 5 update that it was replacing two contractors found to be in breach of their obligations. In that announcement, the partnership said Sea Lion development continued with support from the Falkland Islands and UK governments, according to Investegate.

Revenue growth changes the valuation debate

Navitas reported H1 2026 revenue of USD 517.2 million, compared with USD 35.8 million a year earlier. The same period included EBITDA of USD 424.2 million and net income attributable to unit holders of USD 80.4 million, figures reported by Edgepedia.

That comparison puts the contractor dispute in a wider operating context. Shenandoah provides producing cash flow in the US Gulf of Mexico, while Sea Lion remains a large development commitment with geopolitical and execution exposure; the next operational test is the replacement of the two contractor positions.

Navitas units stay below the yearly high

The October 8 quote stood 27.2 percent below the 52-week high of ILA 14,850 and 10,730 percent above the 52-week low of ILA 99.80. Trading volume was 32,919 units at 10:21 a.m. IDT, giving the market move a concrete intraday reference while the Sea Lion dispute develops.