Talisman looking to divest Canadian shale gas holdings

01 May 2013 14:51  [Source: ICIS news]

TORONTO (ICIS)--Talisman Energy is looking to divest shale gas holdings in Alberta and British Columbia, the Canadian oil and gas producer said on Wednesday.

Talisman said that as part of "efforts to focus and unlock value" from its North America portfolio, it began a process to divest its North Duvernay holdings and parts of its Montney holdings. Alternatively, Talisman may seek joint venture partners, it said.

According to information on Talisman’s website, Duvernay, in central Alberta, is a "top-tier shale play" because of its liquids-rich characteristics. The company holds interests in 347,000 net acres of land in Duvernay.

In Montney in northeast British Columbia, Talisman holds 182,000 net acres of land.

In 2011, Talisman set up a partnership with Sasol to develop some Montney assets. However, last year Talisman said it would not participate with Sasol in a proposed gas-to-liquids (GTL) project.

By: Stefan Baumgarten
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