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.

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