Talisman Energy will spend over $5.2 billion on capital projects in 2010.
That’s a 10 per cent increase over 2009 and the company says over $1.6 billion will be spent on its North American Shale gas properties.
In the Montney shale, Talisman is moving the Farrell Creek and Greater Cypress areas into commercial development, with approximately 25 horizontal development wells expected in 2010.
In addition, it expects to drill 10 to 15 Montney shale pilot wells, including its first multilateral.
The company will expand from three rigs to as many as nine by the end of the year, spending approximately $550-million