Calgary based Talisman Energy is selling a 50 per cent stake in its Farrell Creek shale gas field in Northeastern B.C. to Sasol, a South African energy and mining company with about 34 thousand employees.
It’s a one billion-dollar development agreement and it is still subject to regulatory approval.
However, it is expected to close in the first half of next year and Talisman will continue to run the property, which is part of its Monteney shale gas field.
The two companies also agreed to collaborate on other projects.
They include a feasibility study into the economic viability of a facility in western Canada to convert natural gas to liquid fuels.