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Talisman books $1.9 Bn from property sales
Published 07.04.2010 15:41:05 by John Bradbury
North Sea major Talisman Energy will have more cash to spend after securing the sale of non-core assets onshore Canada for Cdn. $1.9 Bn (US $1.89 Bn).

Talisman said it has secured the sale of its non-core Canadian properties through five separate transactions after indicating it was putting them up for sale in January.

The deals covers 42,500 boe/d of production – of which about 90% is gas - across the Peace River Arch Area, in the central Alberta Foothills, and the greater Hinton area in Alberta, plus other properties in Ontario.

“Although these are excellent assets with a great future, they can't effectively compete for capital within our emerging strategic asset mix,” stated Talisman's president and chief executive John Manzoni. “These sales are value accretive and will help us focus on, finance and build our growing, low-cost North American shale gas business.”
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