There’s no way to sugarcoat the dreadful third quarter results Talisman Energy reported yesterday—and they don’t try. The Canadian company, one of the larger drillers in the Marcellus Shale, announced a $731-million loss for the third quarter yesterday, which included $443-million of charges tied to exiting from Peru and setbacks with their operations in Norway and Quebec. Talisman’s stock dropped nearly 5% on the news.
The new president & CEO, Hal Kvisle, gave a sobering and frank review of the company and charted out four key priorities moving forward. One of those priorities is where they will focus their operations in the months and years ahead.