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Talisman to Reduce Spending, Rig Count in Marcellus for 2012

Talisman Energy announced yesterday that it plans to spend 11 percent less on capital projects in 2012 than it did in 2011. They also announced they would reduce the number of Marcellus drilling rigs from 11 in use during 2011 down to between five and seven for 2012.The reason? Low natural gas prices. Talisman expects natural gas prices in North America to remain low for the foreseeable future. Although they are decreasing overall spending, Talisman will increase spending, and shifting their focus, to shale gas liquids.

From the Talisman press release:

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Top 7 Marcellus Shale Gas Producers in PA

Who are the biggest producers of Marcellus shale gas in Pennsylvania so far this year? Below is the list of the top seven as compiled from production numbers by the Pittsburgh Business Times.

The following are production numbers for January to June 2011 in Pennsylvania.

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Recent Marcellus Shale Joint Venture Deals

Joint ventures are a common way for oil and gas companies to share risk, expertise and resources. Here is a list of recent deals in the Marcellus shale:

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PA Drillers Comply with Federal EPA’s Request for Information on Wastewater Disposal

When the Pennsylvania Department of Environmental Protection (DEP) recently told Marcellus Shale drillers in the state to stop hauling wastewater from fracking to municipal sewage treatment plants that are not equipped to fully treat the wastewater by May 19 (see MDN story here), they all committed to comply and indeed did comply. But the federal Environmental Protection Agency (EPA) jumped in and demanded detailed plans from six drillers as to just how they planned on treating and disposing of the wastewater once the they stopped using the municipal plants.

The EPA’s deadline for the six drillers to file plans was Wednesday, May 25. Five of the six complied by the deadline:

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What We Learn from Financial Statements About Future Plans for Drilling in the Marcellus Shale

Reading financial statements by corporations is about as fun as watching paint dry—but hey, someone has to do it. We do learn important tidbits of news from drilling companies about their recent activities, and more importantly, what they are planning for the coming year. Henceforth, a few gleanings from some recent financial statements.

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Fracking Fluid Spill in Tioga County, PA – DEP Investigating, Talisman Shuts Down Operations for Eight Days

Talisman Energy shut down its four North American shale gas drilling operations for eight days following a fracking fluid release (MDN would call it an “accident”) on Jan. 17th at its drilling operation in Tioga County, PA, in the Tioga State Forest. According to Talisman, there were no injuries and the fluid was contained at the well site.

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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

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Marcellus Shale Companies in Pennsylvania Looking to Fill Jobs and Contract with Local Businesses

Companies involved in drilling, processing and transporting Marcellus Shale gas in Pennsylvania are looking to contract with local businesses and hire local people to work for them. On the list are…

  • Contractors for:
    • clearing land
    • constructing well pads
    • setting up rigs
    • running wirelines
    • hauling waste
    • hauling dirt
    • mechanical work
    • civil work
    • electrical work
    • environmental surveyors
    • installers
  • Real estate/office space
  • Drilling crews
  • Frac crews
  • Right-of-way agents
  • Suppliers for:
    • drilling mud
    • frac fluid
    • steel pipes
    • valves and fittings
    • natural gas compressors
  • Engineering firms
  • Environmental firms
  • Professionals:
    • geologists
    • geophysicists
    • environmental engineers

The companies looking to hire include:

  • East Resources
  • Chief Oil & Gas
  • Laurel Mountain Midstream
  • MarkWest Energy
  • Talisman Energy

For more details, along with contact names and inside tips for submitting a bid or applying for a job, see the article linked below.

*Pittsburgh Business Times (Apr 29) – The Marcellus Shale: How your company could get in on the action

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Talisman Energy Sells Another $1.9B in Assets, Plans to Invest $1B in Marcellus Shale in 2010

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

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Talisman Energy Will Invest $1 Billion in PA Marcellus Shale, Opening Regional Office near Pittsburgh

Talisman Energy (headquartered in Calgary, Canada) says it will invest $1 billion in Pennsylvania’s Marcellus Shale.

Part of that investment is the creating of a regional office in Cranberry Township, in Butler County, PA. The new office will employ 125 people by the end of 2010. And Talisman is looking to hire:

The company is in the process of recruiting and hiring geologists, landsmen, regulatory and legal experts, among others. It will relocate 35 from its New York office and 15 from the Calgary headquarters, and hire the rest.*

Although Talisman’s 214,000 net acres in the Marcellus Shale are in northeastern Pennsylvania, the company decided to locate its regional office near Pittsburgh.

*Pittsburgh Business Times (Mar 12) – Talisman Energy opening office north of Pittsburgh

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Talisman Energy Expanding in Pennsylvania

Talisman Energy (Nov 3):
Press Release: Talisman Energy Reports $838 Million Cash Flow in Third Quarter

Talisman Energy, an oil and gas drilling company headquartered in Calgary, Alerta (Canada), reports the following in a recent press release:

The Company has added over 170,000 net acres of high quality land in the Pennsylvania Marcellus and Montney shale plays, investing approximately $570 million, the majority of it subsequent to September 30.

Production from the Pennsylvania Marcellus shale play was over 50 mmcf/d [million cubic feet per day] at the end of October. A total of 31 gross wells have been drilled year-to-date and a third rig has been added, with plans to move to six rigs by year end.