"We are building oil and liquids momentum in 2013, which will continue into next year," says Hal Kvisle, President and CEO. "Talisman has a large inventory of liquids and high netback international gas opportunities within our existing portfolio. In 2013, approximately 90% of our capital program is directed at these cash flow-generating opportunities."
It is now planning further dispositions of $2.3-billion of dispositions or joint ventures over the next 12 to 18 months in North America and internationally. That includes marketing some of its assets in the North Duvernay and Montney region.
Talisman said earlier this year it may seek partners for its Canadian shale gas holdings, including looking for another partner willing to help it develop the estimated 30 trillion cubic feet of natural gas contained in its northeast B.C., Montney area shale gas properties.
Talisman says the reduced capital budget is mostly due to the $1.5 billion sale of most of its North Sea operations last year to Chinese oil giant Sinopec.