Exploration & Production
Talisman Stays Focus on Eagle ford; Montney and Duvernay Update
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Talisman Energy Inc. reported its operating and financial results for the second quarter of 2012. All values in this release are in US$ unless otherwise stated.
Cash flow1 was $803 million, down 10% over the same period last year despite a 50% reduction in NYMEX natural gas prices. Net income for the quarter was $196 million, down from $698 million in the same quarter last year, up 31% to $487 million for the six months ended June 30, 2012. Total production was 435,000 boe/d, an increase of 4% over the same period in 2011, due to increased oil and gas volumes in Southeast Asia and from North American shale. Talisman agreed to sell a 49% equity stake in its UK North Sea assets to Sinopec for $1.5 billion, $500 million of which the company plans to use for share repurchases. Announced…- ✓ Full news archive — U.S., Canada & international coverage
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