Just months after announcing a $1.05 billion deal to buy a stake in Talisman’s Farrell Creek assets, Sasol is buying a second stake in the company’s interest in the Montney Shale Play area.
The South African petrochemicals giant is purchasing a 50 per cent stake in Talisman’s Cypress A assets for an additional $1.05 billion.
The added stake will allow the two companies to increase growth in the area, while also furthering Sasol’s Gas-to-Liquids prospects, said Sasol Chief Executive Pat Davies in a release.
The previous deal between Talisman and Sasol included a 50 per cent working interest in Talisman’s Farrell Creek assets, which closed on March 1.
Both companies are currently in the process of conducting a feasibility study to determine whether a GTL plant should be built.
GTL fuel diversifies the products that can be used from natural gas production. The types of synthetic fuels that can be produced include diesel, naphtha, liquefied petroleum gas (LPG), and jet fuel.