Talisman Energy in Canada has announced it has made a selling and purchase deal with Progress Energy Canada in last Friday. According to the contract, Talisman Energy will sell partial its energy area in northeast British Columbia for $1.4 billion.

 

Talisman will sell 75 percent of its Montney acreage in the Farrell Creek and Cyrpress areas in British Columbia, which covers an area of approximate 127,000 net acres. The Farrell Creek has drilled 65 million cubic feet of gas per day since October 1 2013. But according to the Talisman program, the gas and other energy volumes will be in an increase in the fourth quarter in this year.

 

Talisman will still possess its Groundbirch and Saturn assets which the 48,000 net acres of prospective Montney land would keep in its name.

 

From the officials of the Talisman, this permanent selling is very beneficial to the company future development with a $ 2-3 billion possession in accordance with the goal Talisman has set in March this year. And this price has not too much gap with the recent Montney deals. Besides, these founds will further assist the company to put more focus on Edson-Duvernay producing and development wells as well as paying down debt and adding its balance sheet after approved by applicable regulatory rules in the first quarter of 2014.

 

The continuous development of the Talisman can be contributed to its hard working staffs that have managed and operated the possession very well. The company has also created a very stable relationship with the local government and communities. It has also said that it will still keep a safe operation which is included the environment friendly principle. Its staffs will be treated equal and honored.