- Talisman Energy (TLM +7.2%) shoots higher after posting strong Q1 earnings, helped by higher North American gas and liquids prices, increased liquids volumes and a gain on the sale of assets.
- Q1 production from ongoing operations totaled 360K boe/day, up 6% Y/Y; overall liquids production rose 10% to 142K boe/day, with North American liquids volumes up 45%.
- Completed the C$1.5B sale of part of its western Canadian shale properties to Malaysia’s Petronas during the quarter and used the proceeds to cut net debt by nearly $1B; says it expects to sell C$2B more in assets over the next 18 months.
- Realized natural gas prices overall gained 8% Y/Y.
- Cash flow rose 19% to $616M.