Key Developments: Talisman Energy Inc (TLM)
11.51USD
17 May 2013
$0.13 (+1.14%)
$11.38
$11.31
$11.59
$11.22
3,149,517
5,046,950
$15.21
$9.46
Latest Key Developments (Source: Significant Developments)
North Energy ASA Spuds PL 299 Frode Well in License Shared with Talisman Energy Inc, Cairn Energy PLC and Dong E&P Norge
North Energy ASA announced that the exploration drilling begun on May 10, 2013 on the Frode oil prospect in production license 299 in the North Sea shared with Talisman Energy Inc, Cairn Energy PLC and Dong E&P Norge. Located about 16 kilometers south-east of the Gyda field, well 2/1-16 S is being drilled by the Maersk Giant jackup. Partners in the license are Talisman Energy Inc (operator with 31.5%), Capricorn Norge (wholly owned subsidiary of Cairn Energy PLC, 28.5%), Dong E&P Norge (20%) and North Energy (20%). North Energy signed a purchase and sale agreement on 3 May with Spike Exploration Holding AS covering the sale of a 10 per cent holding in PL 299. This deal is awaiting government approval. Full Article
Talisman Energy Inc Announces Paul Smith As New CFO
Talisman Energy Inc announced that the appointment of Paul R. Smith as Chief Financial Officer (CFO), effective May 20, 2013. Paul is currently Executive Vice-President, North America, within Talisman. Scott Thomson, Talisman's current CFO, is leaving the Company to become President and Chief Executive Officer (CEO) of Finning International, the Caterpillar equipment dealer headquartered in Vancouver, British Columbia. Full Article
Talisman Energy Inc Reaffirms FY 2013 Production Guidance
Talisman Energy Inc announced that fiscal 2013 production guidance range is unchanged, with liquids volumes expected to rise in the second half of 2013 in North America (Eagle Ford), Colombia, Malaysia (Kinabalu) and Vietnam (HST/HSD). Full Article
Talisman Energy Inc's Talisman Energy Norge AS Announces Financial Settlement on Yme Project
Talisman Energy Norge AS (TENAS) is a subsidiary of Talisman Energy Inc announced that on behalf of its joint venture partners, has reached an agreement with SBM Offshore to terminate the YME MOPUstor project, including scrapping the existing above-surface structure, and ending all joint activity for an agreed cost. Following an extended period of operational and execution delays, the decision has been taken to have Talisman remove the MOPU (Mobile Offshore Production Unit), which will subsequently be scrapped by SBM Offshore, the unit''s owner. Ownership of the in situ subsea structure will be transferred from SBM Offshore to the Yme license holders, as they assess alternative development concepts for the field. Subject to an upfront settlement payment of USD470 million made by SBM Offshore, Talisman will complete the work necessary to ensure safe re-manning and will then remove the MOPU from the Yme field. SBM Offshore will manage the transportation and ultimate scrapping of the facility. All parties will terminate the existing agreements and arbitration procedures with respect to the Yme project. Full Article
Talisman Energy Inc Issues FY 2014 Production Guidance
Talisman Energy Inc announced that it plans to grow five key liquids projects, currently producing 10,000 bbls/day to approximately 65,000 bbls/day in fiscal 2014. Full Article
Talisman Energy Inc Cuts 7% Of Head Office Jobs-Reuters
Reuters reported that Talisman Energy Inc has cut 90 jobs at its Calgary head office, or 7% of employees there, as it strives to cope with depressed North American natural gas prices. Talisman, which is restructuring operations in an effort to lift a long-languishing stock price, it still employs 1,500 staff in Canada, including 1,200 in Calgary. Full Article
Talisman Energy Inc Declares Dividend
Talisman Energy Inc announced that the Board of Director has declared a quarterly dividend on the Company's common shares of USD0.0675 per share. The dividend will be paid on March 29, 2013 to shareholders of record at the close of business on March 11, 2013. The Company has also declared a quarterly dividend of CAD0.2625 on its Cumulative Redeemable Rate Reset First Preferred Shares, Series 1. The dividend will be paid on April 1, 2013 to shareholders of record at the close of business on March 11, 2013. Full Article
Talisman Energy Inc Prepares For Job Cuts As Canada's Oil Patch Struggles-DJ
Dow Jones reported that Talisman Energy Inc is preparing to cut its workforce as it works to substantially reduce office costs amid a broader push toward better profitability. It's unclear what percentage of its workforce, which stood at 3,700 at the end of 2011, will be let go. Talisman spokeswoman Phoebe Buckland said cuts will include people, offices, travel, IT. It's the overhead as well as the people cost. Talisman's changes, which include the departure of executive vice-president of special project Tony Meggs, come months after long-time Calgary corporate Hal Kvisle took over as Chief Executive Officer. Full Article
Talisman Energy Inc Completes $1.5 Billion North Sea Transaction with Sinopec
Talisman Energy Inc announced the completion of its joint venture transaction with Addax Petroleum UK Limited (APUK), an indirect wholly owned subsidiary of China Petrochemical Corporation (Sinopec Group) following receipt of government and regulatory approval. The completion follows the original announcement of the transaction in July this year. Sinopec Group has acquired a 49% equity interest in Talisman's UK North Sea business, Talisman Energy (UK) Limited (TEUK), for $1.5 billion. Talisman will continue to hold 51% of the joint venture company. The UK North Sea will be a smaller part of Talisman's overall portfolio, but remains an important part of its North Sea business. The focus of the joint venture will be to continue investment in asset integrity and improve ongoing operating performance as well as accelerating infill drilling, unlocking additional infrastructure-led exploration opportunities and executing major projects, thereby extending field life and deferring decommissioning. Talisman Energy (UK) Limited will be renamed Talisman Sinopec Energy UK Limited. Full Article
Talisman Energy Inc Deal With Sinopec To Be Sealed By Year End-Reuters
Reuters reported that British and European Union regulators are expected to approve Sinopec Corp's (600028.SS) 49% acquisition of Talisman Energy by the end of the year. Full Article
Talisman Energy CFO leaves for Finning International
May 8 - Canadian oil and gas producer Talisman Energy Inc said Chief Financial Officer Scott Thomson is leaving the company to take over as chief executive of heavy equipment dealer Finning International Inc.
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