Talisman Energy, one of Canada’s biggest shale gas drillers, is following through on its stated goal of investing $1 billion in the Marcellus Shale play. Today they announced five separate deals to sell off Canadian oil and gas holdings that total $1.9 billion.
The company has said it will use money from asset sales to fund its $5 billion capital program for 2010, which includes $1 billion towards the Marcellus shale play, said [Talisman spokeswoman Phoebe] Buckland.*
With $1 billion in hand, it looks like Talisman will be looking for more property to lease in the Marcellus. Stay tuned.
*The Canadian Press (Apr 7) – Talisman’s latest sale of non-core assets to reap $1.9B, support shale gas plan