Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Talisman IDs 2014 CapEx of $3.2 Billion; North America Gets Bulk of Budget
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Talisman Energy Inc. has detailed its capital spending program and expected operating results for 2014.
All values in this press release are in US$ unless otherwise stated.
2013 was a foundational year for Talisman. The company reset its strategy and made significant progress against its four key priorities. It increased North American liquids production by 30%, and reduced and reset its cost structure, cutting capital by 20% and underlying net G&A by 20% compared to 2012 (on a run-rate basis). The company improved operating performance, reduced drilling and completion costs and cycle times in North America, produced first oil at HST/HSD offshore Vietnam ahead of schedule and under budget, and lowered its commodity price risk through its ongoing hedging program. Asset sales agreed in…
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