Talisman Energy posts $1B loss, eyes another $2B in asset sales

Talisman Energy (TLM) -1% premarket after posting a worse than expected Q4 loss of $1B with asset impairment charges totaling more than $800M.

TLM says it plans to sell another $2B of non-core assets over the next 12-18 months in addition to the $2B-plus it has already raised from asset sales.

TLM expects its two core regions - the Americas and Asia-Pacific - to deliver a 14%-19% increase in liquids volumes in 2014 to 111K-115K bbl/day from 97K bbl/day; most of the growth will come from North America and Colombia.

Production is seen growing to 350K-365K boe/day from 345K, up 2%-6% Y/Y.

Cash flow fell to $580M from $675M; net debt at the end of 2013 totaled ~$4.8B, up from ~$3.7B at year-end 2012.

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