First Energy East Coast Energy Conference March 8, 2012
Talisman three core production areas, plus high impact international exploration Producing areas North Sea stable production generates free cash flow Exploration areas European shale North America Kurdistan shale provides…
Diversified portfolio oil and gas mix Geography Liquids/gas 5% Other Gas North Sea Shale gas 25% 26% Southeast Asia Oil-linked gas North America Oil Liquids = 55% 26% 41% 26% 42% 7% 10% 13% 19% 28% 25% 26% Gas = 45%…
2011 accomplishments and 2012 highlights 2011 accomplishments 2012 highlights Doubled Marcellus shale production Exploration and development capital producing over 400 mmcf/d expected to be 4 billion, 500 million lower than 2011 due…
E&P cash capital expenditure Cash capital spend billion 5 Reduction in dry gas and exploration spend 4 Other (incl. Latin America) International Exploration North Sea Southeast Asia 3 North America 2 1 0 2011…
North America shale leading, returns-focused business Base 1 Free cash flow to invest Growth 2 5-10% sustainable growth North America shale Liquids and leading gas plays Exploration 3 Renewal of the firm NYSE : TLM…
North America liquids growth Liquids production mboe/d Refocusing shale investment into 100 liquids-rich opportunities Liquids growth from 25 mboe/d to over 60 mboe/d by 2015 75 Portfolio drivers Eagle Ford 50 Wild River…
2012 focus on growing liquids production Eagle Ford average W.I. 40% Duvernay average W.I. 90% JV land San TLM land area Major pipeline Antonio North Shale fairway Sales pipeline Duvernay Edson Edmonton Oil s uid Pr Liq…
Significant reduction in dry gas capital Marcellus average W.I. 80% Montney average W.I. 50% TLM land Greater Greater TLM land Cypress Cypress Basin TLM focus area Major pipeline Basin Major pipelines Pennsylvania…
Shale gas operations technology and innovation Zipper Fracing / Super Fracs Multi-lateral Completions Micro Seismic Zipper fracs save Drilled one of the first Achieve the highest significant time and multi-lateral wells in…
Shale learning curve Marcellus example Total D&C capex per frac stage EUR per well Impact on D&C capital million/350 feet lateral bcfe /mcf 1.2 Complete 5 5 Drill and construct 4 +67% 4 0.8 -53% 3 3 -72% 2 2 0.4 1…
Safe, profitable growth 5-10% growth into the future 2012 growth rate up to 5% due to capital reallocation to liquids Improving profitability as replacement costs reduce Liquids options including Colombia Focus portfolio in…
First Energy East Coast Energy Conference March 8, 2012