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Talisman Energy Sells Montney Acres For Billions

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March 14, 2014

Talisman Energy Inc. (TLM.TO) sold 127,000 net Montney acres to Progress Energy Canada Ltd. for CA$1.5 billion, the company said March 12.

"We announced this transaction in November 2013, and its closure, coupled with other previously announced deals, means we have achieved over $2 billion in dispositions within 12 months," said Hal Kvisle, president and CEO.

Kvisle noted that CA$2 billion more, of “long dated, capital-intensive assets” would be divested, and that proceeds would help “maintain a strong balance sheet.”

Talisman kept its Groundbirch and Saturn assets, including about 48,000 ...

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