Talisman sells Saskatchewan, Montana assets

Uchenna Izundu
OGJ International Editor

LONDON, Mar. 5 -- Talisman Energy Canada has agreed to sell its Saskatchewan and Daniels County, Mont., assets to Crescent Point Resources LP and TOG Partnership for $720 million (Can.).

The sale is subject to regulatory approval and is expected to finish by June 1.

The deal is part of the company's effort to focus on material, core assets and on unconventional natural gas plays in North America.

The buyers will acquire Talisman's 73% interest over 610,000 net acres of land in southeast Saskatchewan with 8,500 boe/d of net production. They will also gain Talisman's owned and operated infrastructure. The acreage holds estimated proved reserves at 20.1 MMboe and proved plus probable reserves at 34.1 MMboe net to Talisman, according to an independent report by AJM Petroleum Consultants.

TOG Partnership is an affiliate of Tristar Oil & Gas Ltd.

Contact Uchenna Izundu at uchennai@pennwell.com.

Related Articles

OMV acquires West of Shetland licenses from Hess

03/21/2014 OMV AG has reached an agreement with Hess Corp. to acquire four licenses in West of Shetland, UK, including Cambo field and the Blackrock prospect,...

Millennium Pipeline appoints president

03/20/2014 Millennium Pipeline Co. LLC has selected Joseph Shields as its president. He succeeds Rocco D’Alessandro, who held the position beginning in May 20...

ONGC Videsh names exploration director

03/19/2014 ONGC Videsh Ltd. (OVL), the overseas arm of Oil & Natural Gas Corp. Ltd., has named Anil Bhandari as exploration director. In his role, Bhandar...

Vermilion to buy southeast Saskatchewan assets

03/18/2014 Vermilion Energy Inc., Calgary, has signed an agreement with a private southeast Saskatchewan producer to acquire light oil producing assets in the...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected