Tue, Feb. 10, 8:44 AM
- Talisman Energy (NYSE:TLM) reported a wider Q4 loss after it wrote down the value of some assets by ~$1.37B to reflect slumping crude oil prices.
- TLM says it wrote down the value of its Eagle Ford assets in Texas by $614M, fully impaired an investment in the Kurdistan region of Iraq by $234M, and took charges related to assets in the North Sea and in the Equion field in Colombia; it also recorded a $996M loss on joint ventures such as Talisman Sinopec Energy UK, which operates oil and gas fields in the North Sea.
- In North America, TLM's total production and production from ongoing operations averaged 173K boe/day for Q4, up 5% Y/Y due to increased volumes from Canada and Eagle Ford.
- TLM says it still expects the takeover by Repsol (OTCQX:REPYY, OTCPK:REPYF) to happen in Q2.
Tue, Feb. 10, 6:02 AM
Mon, Feb. 9, 5:30 PM
Nov. 4, 2014, 5:08 AM
Jul. 29, 2014, 9:47 AM
- Talisman Energy (TLM -0.4%) opens slightly lower after swinging to a surprise Q2 loss as it suffered impairments on its North Sea operations and was hurt by lower North American gas prices.
- Total Q2 revenue rose 4.4% to $1.24B, but total expenses jumped 47.4% to $1.4B.
- Total netbacks fell to $27.18/boe from $28.44/boe in Q1, weighed by higher operating costs in the U.K. and Norway.
- Production from ongoing operations in its core regions rose 12% to 300K boe, with core region liquids production up 20% to 115K boe.
- Realized natural gas prices in North America rose 11% Y/Y but fell 11% Q/Q.
- Says proceeds from asset sales will continue to cut corporate debt to help maintain a strong balance sheet, as it works to reduce its exposure to the North Sea and other non-core areas.
Jul. 29, 2014, 5:46 AM
May. 7, 2014, 12:23 PM
- 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.
May. 7, 2014, 6:21 AM
Feb. 12, 2014, 8:16 AM
- 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.
Feb. 12, 2014, 5:34 AM| Comment!
Feb. 12, 2014, 12:05 AM
Feb. 11, 2014, 5:30 PM
Nov. 6, 2013, 10:59 AM
- Talisman Energy (TLM +0.4%) reported its fifth consecutive quarterly operating loss, weighed by hedging and foreign exchange losses and lower North American gas prices.
- Cash flow slipped to $573M from $693M, which was attributed to the sale of a 49% stake in its U.K. North Sea business in Dec. 2012, but TLM says it is on track to reach its cash flow target of $2.1B-$2.3B for the year.
- Full-year liquids production in North America is expected to come in at the top end of its outlook at 35K bbl/day.
- Says it continues to make good progress toward its planned asset sale target of $2B-$3B.
Nov. 6, 2013, 5:32 AM
Nov. 6, 2013, 12:05 AM| Comment!
Nov. 5, 2013, 5:30 PM| Comment!
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