- Talisman Energy (TLM) says two of its affiliates agree to sell their 12% equity interest in the Ocensa Pipeline in Colombia to an investment group led by Advent International for ~$595M.
- TLM affiliates retain crude transportation rights for ~63K bbl/day; TLM will use these rights to transport proprietary crude and generate third party revenue from surplus capacity.
- TLM sale proceeds since March now total $2.2B, which it will use to reduce debt and strengthen the balance sheet.
Talisman Energy in $595M sale of Colombian pipeline interest
Dec 10 2013, 08:22 ET