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Talisman Energy in $595M sale of Colombian pipeline interest

  • 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.
Comments (1)
  • oil production keeps growing down here....if they come to a peace with the FARC...and they quit blowing up the pipeline..it will be a good investment
    10 Dec 2013, 08:30 AM Reply Like
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