Talisman Energy Selling Conventional Gas Properties, Investing in Marcellus Shale Instead
Talisman Energy is selling off its conventional gas properties and shifting investment to shale gas properties:
Talisman Energy Inc, Canada’s No.4 independent oil and gas explorer, said on Wednesday it is boosting its U.S. shale gas holdings, as it reported an operating profit that trumped expectations.
Shale gas regions have emerged as the leading source of new natural gas supplies over the past few years, pushing up production of the fuel as new drilling techniques lower the cost of exploiting the massive reserves locked in the shale.
Talisman is selling off much of its conventional gas properties to concentrate on its shale holdings, with the bulk of its spending on the Marcellus shale region around Pennsylvania and the Montney region of northeastern British Columbia.*
*MSN/Reuters (May 5) – Talisman says shale strategy at turning point