NewMed Energy reported a 45% increase in net profit for the second quarter of 2026, driven by higher natural gas output, according to company presentation slides.
The Israeli energy firm’s Q2 2026 earnings update highlighted a significant rise in production volumes, which offset stable oil prices during the period. While specific revenue figures were not disclosed, the company attributed the profit growth primarily to expanded gas extraction and operational efficiency improvements.
NewMed Energy, formerly known as Delek Drilling, has been expanding its natural gas portfolio in the Eastern Mediterranean, including projects in Israel and Cyprus. The company’s recent drilling campaigns have contributed to a steady increase in output, aligning with broader industry trends favoring cleaner energy sources.
Analysts tracking the sector noted that the profit surge reflects broader momentum in the regional gas market, where demand remains robust amid geopolitical supply concerns. The company’s financial performance contrasts with broader energy sector volatility, where oil prices have shown limited movement in recent months.
NewMed Energy’s Q2 2026 results are scheduled for formal release in the coming weeks, pending final auditing and regulatory filings.
