San Leon Energy PLC agreed to buy Talisman Energy Inc.’s share of a shale gas joint venture in Poland. Talisman is the second international major oil company to withdraw from Poland, following a decision last year by ExxonMobil Corp. to exit Poland after early results failed to produce commercial wells.
San Leon said it is taking 100% ownership of the Gdansk W and Braniewo S licenses and increased its interest to 50% in the Szczawno license in Poland's Baltic basin (see map, OGJ, Nov. 7, 2011, p. 36).
Talisman has said it wants to focus on production in two core areas: the Americas and Asia-Pacific.
Previously, Talisman carried San Leon on drilling expenses for three wells in the Baltic basin.
Now, San Leon will now use Talisman Polska’s cash to fund the planned fracture of its Lewino-1G2 well in the Gdansk W Baltic basin.
The vertical fracture is intended to prove the unconventional gas potential of the Lower Silurian and Ordovician shales, San Leon said. Operations will begin as soon as permitting and regulatory approval is granted.