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TLM

Talisman Energy Inc.

6/20/2013, 5:59 AM ET

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Tuesday, June 18, 2:55 AM Talisman Energy (TLM) has reportedly approached potential buyers, including private-equity firms, for its shale assets in the Eagle Ford basin in south Texas with a view to raising $2B. The speculation could come as a bit of a surprise, because while Talisman has said it is looking to offload non-core assets, its Eagle Ford interest is seen as core. Comment! [Energy, M&A]
Wednesday, June 12, 12:14 PM Occidental Petroleum's (OXY) proposal to split its U.S. and foreign businesses is pressuring more oil companies to follow suit, with ConocoPhillips (COP), Anadarko (APC) and Talisman (TLM) among those asking whether the U.S. shale boom has made their global business models obsolete. Separating relatively low-cost investments in U.S. shale from foreign assets carrying bigger potential rewards/risks will unlock a bounty for shareholders, Deutsche Bank's Paul Sankey says. 5 Comments [Energy]
Monday, May 20, 3:43 PM Talisman Energy (TLM +2.6%) says it produced its first oil from the Hai Su Trang and Hai Su Den development offshore Vietnam, where gross production is expected to reach 15K bbl/day once facilities are fully commissioned. TLM says the debut came in ahead of schedule and under budget, less than 18 months after the project was sanctioned. Comment! [Energy, On the Move]
Wednesday, May 8, 10:16 AM Marathon Oil (MRO +0.3%) joins Talisman Energy (TLM) in quitting its Polish shale gas operations due to poor drilling results, anticipating a complete exit by H2 2014. MRO says it is evaluating disposition options for its concessions, for which it gives a book value of $12M. TLM also said today it's pulling the plug on its Polish operations. Comment! [Energy, Global & FX]
Wednesday, May 8, 8:09 AM Talisman Energy (TLM) is pulling out of exploration for shale gas in Poland, saying it will sell its Polish interests to San Leon Energy after failing to find enough gas to warrant further expensive exploration or extraction procedures. Exxon sold its Polish concessions last year, and the decisions are a blow to the country's hopes that its shale deposits eventually will cut dependence on Russian supplies. Comment! [Energy, Global & FX]
Monday, May 6, 11:43 AM Talisman Energy (TLM +1.6%) and Petro Vietnam are expected to start commercial oil production from Hai Su Trang field offshore Vietnam next week, the state-owned Vietnamese company says. TLM holds a 60% stake in the field, which currently produces 15K bbl/day. Meanwhile, Eni (E) secures a rig to drill a prospect off the country's coast. 1 Comment [Energy, Global & FX, On the Move]
Wednesday, May 1, 9:07 AM More on Talisman Energy's (TLM) Q1 results: Production fell 19% to average 372K boe/day; adjusting for the sale of a 49% stake in its North Sea operations to Sinopec in December, production was essentially flat. Cash flow fell 39% to $517M. Maintained its production forecast of 375K-395K boe/day for the year, set 2013 capex of $3B. Shares -3.1% premarket. Comment! [Energy, Earnings, On the Move]
Wednesday, May 1, 6:05 AM Talisman Energy (TLM): Q1 EPS of -$0.06 misses by $0.09. Revenue of $1.12B misses by $0.34B. (PR) Comment! [Earnings, Breaking News]
Wednesday, May 1, 12:05 AM Notable earnings before Wednesday’ s open: AB, ADT, AFAM, AFSI, AGN, AH, AMT, ARW, AVA, CCJ, CHK, CLH, CLX, CMCSA, CVH, CVS, DLPH, DVN, ENR, EXAS, EXC,GRMN, GWR, H, HSP, HUM, ICE, IPGP, IQNT, IRM, JRCC, KCG, KFN, MA, MKL, MRK, NVO, PDCE, PKD, POR, PSX, RDC, RDN, SEE, SPW, TLM, TWX, VG, VIAB, VPHM Comment! [Earnings]
Tuesday, April 30, 5:30 PM Notable earnings before Wednesday’ s open: AB, ADT, AFAM, AFSI, AGN, AH, AMT, ARW, AVA, CCJ, CHK, CLH, CLX, CMCSA, CVH, CVS, DLPH, DVN, ENR, EXAS, EXC,GRMN, GWR, H, HSP, HUM, ICE, IPGP, IQNT, IRM, JRCC, KCG, KFN, MA, MKL, MRK, NVO, PDCE, PKD, POR, PSX, RDC, RDN, SEE, SPW, TLM, TWX, VG, VIAB, VPHM Comment! [Earnings]
Friday, April 5, 8:26 AM Sasol (SSL) says it seeking a buyer for its Papua New Guinea assets, apparently giving up on plans to develop a gas-to-liquids project there. Interest among international energy companies in the country’s gas potential remains high, with an estimated 26T cubic feet of natural gas which could be developed for export to Asia. 6 Comments [Energy, Global & FX]
Wednesday, March 13, 2:36 PM The Norwegian government plans to review oil and gas projects including the BP-operated Skarv and Valhall fields and the Talisman-operated (TLM) Yme field after major delays and cost overruns. The Yme platform in the North Sea is being scrapped without producing oil after it was evacuated last summer due to cracks in the platform structure. Comment! [Energy, Global & FX]
Wednesday, March 13, 9:58 AM Talisman Energy's (TLM -1.2%) plan to scrap the unsafe Yme oil platform offshore Norway - without ever producing a drop of crude - following a $470M settlement with the owner is sparking outrage in some quarters. Under Norwegian law, oil companies can deduct 78% of their costs from their taxes, meaning TLM can offset costs related to Yme from future tax payments on other earnings in Norway. Comment! [Energy, Global & FX]
Tuesday, March 12, 10:41 AM Decisions by Canadian Natural Resources (CNQ) and Talisman Energy (TLM) to sell almost 500K acres in the Montney shale, one of western Canada's largest gas finds, threaten to depress prices for land that drew a record premium last year. But companies proposing liquefied natural gas terminals in Canada may not be done buying; private talks may have prompted CNQ and TLM to list the acreage for sale. 1 Comment [Energy]
Tuesday, March 12, 5:57 AM Talisman Energy (TLM) and its partners will receive $470M from Holland's SBM Offshore (SBFFF.PK) in a settlement over the termination of the Norwegian YME offshore oil platform project. SBM Offshore was building YME for Talisman and its partners but had to terminate it following technical difficulties. (PR) Comment! [Energy]
Wednesday, March 6, 8:11 AM Talisman Energy (TLM) announces a $3B capex budget for 2013, a 25% Y/Y reduction, as it focuses on North American liquids and Asia-Pacific plays. Says planning $2B-$3B of dispositions or joint ventures for the next 12-18 months. Options for proceeds include debt reduction and increasing cash flow per share through short-term development spending or share repurchases. Comment! [Energy]