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Talisman selling noncore assets

By OGJ editors
HOUSTON, Aug. 2 -- Talisman Energy Inc., Calgary, agreed to sell 16,000 boe/d of noncore North American assets to multiple, unidentified buyers for a total of $815 million.

Of the assets sold, 65% is natural gas and 1,300 b/d is conventional heavy oil. These are predominantly low working-interest, nonoperated assets.

Proved reserves associated with the assets were estimated at 38 million boe. The assets were sold through seven major transactions and a number of minor ones, with the last agreement expected to close in August. The transactions were part of a divestiture plan announced by Talisman in October 2006.

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