Talisman Energy Aims To Shrink And Grow Rich
Stephen Simpson, CFA • 10 Comments
Stephen Simpson, CFA • 10 Comments
Talisman Energy: Troubled Oil And Gas Play Offering Over 50% Upside With Plenty Of Catalysts
Caiman Valores • 64 Comments
Caiman Valores • 64 Comments
Dec. 9, 2014, 9:54 AM
- Talisman Energy (TLM +12.3%) says several parties, not just Repsol, have approached it about various unspecified deals, but that there’s no assurance any agreement will result.
- TLM has frequently been the subject of takeover rumors, and reports yesterday said TLM was again discussing options with Repsol that could include the sale of some assets or the whole company; Repsol reportedly dropped a plan to buy all of TLM in August.
Dec. 9, 2014, 9:09 AM
Dec. 8, 2014, 3:58 PM
- Repsol (OTCPK:REPYF, OTCQX:REPYY) has revived talks with Talisman Energy (TLM -4.8%) in a bid to bolster its presence in North America, according to a Bloomberg report.
- Repsol and TLM are said to be discussing options including the sale of a selection of assets or the whole company.
- Repsol, which is seeking to deploy ~$10B in cash on acquisitions outside its home market, reportedly dropped a plan to buy all of TLM in August.
Dec. 6, 2014, 8:25 AM
- Some investors may be curious to consider battered energy stocks to play a possible recovery; taking the notion that rich folks may know something about where to invest that the rest of us don't, Forbes suggests five energy stocks with large stakes held by billionaire investors and, for good measure, sport current analyst price targets well above where they are currently trading.
- George Soros owns 8% of Penn Virginia (NYSE:PVA); the analyst consensus price target is $16, and shares are currently trading below $5.
- Leon Cooperman owns 9% of SandRidge Energy (NYSE:SD); the analyst consensus target is $5.08, which would be more than double today's price.
- John Paulson owns 9.7% of Oasis Petroleum (NYSE:OAS) and 9.9% of Cobalt Energy (NYSE:CIE); the stocks' respective consensus price target is $44 and $21, both more than twice their current prices.
- Carl Icahn owns nearly 6% of Talisman Energy (NYSE:TLM); the analyst consensus of $9.36 would be more than double current levels.
Dec. 5, 2014, 5:38 PM
- The Eagle Ford shale formation in south Texas produced its billionth barrel of oil some time last month, according to analysts at research firm Wood Mackenzie.
- Eagle Ford now accounts for 16% of total U.S. oil production, and the firm forecasts E&P spending of $30.8B in the region next year, ~22% of the total $139.3B expected in U.S. onshore spending.
- Eagle Ford is widely considered the most profitable U.S. shale field, and many analysts speculate the break-even price for production to remain profitable is ~$50/bbl in much of the play.
- Top Eagle Ford producers include EOG, CHK, COP, MRO, BHP, APC, APA, BP, COG, CRZO, CWEI, CRK, XOM, GDP, HES, MTDR, MUR, NFX, PVA, PXD, ROSE, RDS.A, RDS.B, SN, SM, STO, SFY, TLM, ZAZA
Dec. 1, 2014, 7:15 PM
- Oil Search (OTCPK:OISHF) has bid more than $300M to buy Talisman Energy's (NYSE:TLM) Papua New Guinea assets, WSJ reports, in a move that could accelerate an expansion of the country’s flagship gas export facility.
- A deal could help Oil Search secure enough gas to justify a new pipeline and processing unit at the $19B PNG LNG export plant operated by Exxon Mobil (NYSE:XOM), while it would help TLM meet a goal of $2B in asset sales by mid-2015.
Nov. 28, 2014, 9:17 AM
Nov. 21, 2014, 11:40 AM
- Talisman Energy (TLM +3.6%) and Colombia’s state-owned Ecopetrol (EC +1.2%) say they have made a second oil discovery in Block CPO-9 in Colombia.
- The discovery comes nearly a year after the partners declared the commercial viability of the Akacias oil area in the CPO-9 heavy oil block.
- The oil find is good news for TLM, which has been selling assets as it struggles to pay off debt amid a slump in oil and gas prices.
Nov. 17, 2014, 3:43 PM
- Talisman Energy (TLM +2.2%) reportedly is in talks to sell its pipeline operations serving the Marcellus Shale region in New York and Pennsylvania to Regency Energy Partners (RGP +0.5%), with a deal valuing the assets at more than $1B possibly announced within three weeks.
- TLM, which said last year that it planned to sell its Marcellus pipelines, has been “working through the finer details of the potential transaction with a preferred counterparty,” CFO Paul Smith said earlier this month.
- TLM’s Marcellus operations consist of 400 km of gathering and transmission pipelines served by seven compression and gas dehydration facilities.
Nov. 4, 2014, 5:08 AM
- Talisman Energy (NYSE:TLM): Q3 EPS of $0.38 beats by $0.37.
- Revenue of $1.14B (-8.1% Y/Y) misses by $190M.
Oct. 21, 2014, 3:58 PM
- Global Hunter revisits its commodity price outlook, now moving to $83 long-term oil vs. $85 previously, applying a higher discount rate to future cash flows and modeling more conservative assumptions with regards to future rig activity, which results in downward revisions for several exploration and production stocks price targets and some rating changes (Briefing.com).
- Anadarko Petroleum (NYSE:APC), Gulfport Energy (NASDAQ:GPOR) and Rex Energy (NASDAQ:REXX) are upgraded to Buy; Talisman Energy (NYSE:TLM) is raised to Speculative Buy from Neutral.
- Devon Energy (NYSE:DVN), Hess (NYSE:HES), Occidental Petroleum (NYSE:OXY) and Kosmos Energy (NYSE:KOS) are upgraded to Accumulate from Neutral.
- Cobalt Energy (NYSE:CIE) is downgraded to Speculative Buy from Buy.
Sep. 29, 2014, 2:37 PM
- Talisman Energy (TLM -2.2%) is downgraded to Hold from Buy with a $10.50 price target, down from $14, at TD Securities on reduced expectations for a major deal.
- TD believes TLM needs to deliver on a game-changing transaction, such as spinning out an entire division such as the Asia Pacific assets or a corporate sale, to convince investors to bid up shares.
- TLM has been discussing a combination with Repsol (OTCQX:REPYY, OTCPK:REPYF), but reports say the process has stalled.
Sep. 19, 2014, 3:28 PM
- Talisman Energy (TLM -2.2%) may still consider selling assets to Repsol (OTCQX:REPYY, OTCPK:REPYF) but "probably not of the significance people were expecting,” CEO Hal Kvisle tells Bloomberg.
- Repsol reportedly dropped plans to buy all of TLM in August to instead weigh the purchase of some of the company’s shale assets.
- Kvisle also says TLM may announce a partner to develop assets in the Duvernay shale formation in Alberta, which will require ~$20B of investment over two decades.
Aug. 28, 2014, 3:59 PM
- Repsol (OTCPK:REPYF, OTCQX:REPYY) has dropped a plan to buy all of Talisman Energy (TLM -1.9%) but is interested in purchasing some of TLM’s shale assets, Bloomberg reports.
- Repsol is said to have abandoned its original plan for a full takeover after failing to find buyers for assets it wasn’t interested in owning after a takeover, including TLM's North Sea and Southeast Asia assets, but the companies are talking about TLM assets in Texas’ Eagle Ford and Alberta’s Duvernay regions.
- Earlier: Repsol, Talisman talks over a potential deal have stalled, WSJ reports.
Aug. 28, 2014, 10:58 AM
- The Marcellus region is now the world's biggest natural gas shale play, and there’s still $90B to be made by tapping the area’s reserves, according to a study by Wood Mackenzie.
- The energy consultant predicts that the top 20 operators in the Marcellus will earn nearly $86B over the life of the play after the costs of reaching the reserves; for comparison, it estimates ~$118B to be made by extracting the resources in North Dakota’s Bakken region, but most production there is higher-priced oil.
- Major Marcellus shale producers include CHK, RRC, RDS.A, RDS.B, TLM, APC, ATLS, COG, CVX, CNX, EQT, EOG, XOM, WPX, XCO, CRZO, SWN, AR.
Aug. 26, 2014, 5:50 PM
- Repsol's (OTCPK:REPYF, OTCQX:REPYY) talks to buy oil and natural gas assets from Talisman Energy (NYSE:TLM) have stalled, WSJ reports, in a setback for both companies as they try to reposition themselves.
- TLM's stock price has been helped this summer by the talks, while Repsol has said it wants to better balance its production growth potential and risk by strengthening its business in politically stable, developed countries.
- TLM holds attractive assets in the gas-rich Marcellus and Eagle Ford shale formations, but also less desirable assets in the North Sea which are considered a source of "intractable inertia" and a major drag on TLM's earnings.
Talisman Energy Inc is an oil and gas Company. Its main business activities include exploration, development, production, transportation and marketing of crude oil, natural gas and natural gas liquids.
Sector: Basic Materials
Industry: Independent Oil & Gas
Other News & PR