Talisman, Statoil reportedly end sale of Texas joint venture

Talisman Energy (TLM -0.3%) and Statoil (STO -0.7%) end their effort to sell their Eagle Ford joint venture in Texas after offers came in lower than expected, Bloomberg reports.

The companies were seeking as much as $4B for the 50-50 partnership, which was expected to draw interest from large exploration companies seeking to acquire oil-producing properties; instead, bids fell short reportedly because the venture produces ultralight oil, which is worth less than crude oil.

The venture produces ~27.7K boe/day.

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Comments (1)
  • Jeb Walport
    , contributor
    Comments (961) | Send Message
    The good news is they aren't so hard up they will sell at any price. Long time TLM stock holders understand.
    9 Jul 2014, 10:12 AM Reply Like
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