Talisman Energy (NYSE: TLM) sells $1.5 billion of British Columbia stake
Canadian exploration and production company Talisman Energy will be selling a large portion of its acreage in northeast British Columbia to Progress Energy Canada for CDN$1.5 billion.
The sale will encompass approximately 127,000 acres of land in the Farrel Creek and Cypress regions of British Columbia. This represents nearly 75 percent of Talisman’s property in that area. The remaining 48,000 acres that Talisman will keep are its Groundbirch and Saturn properties.
This is part of a wider-flung reduction of assets by Talisman that will be used to shrink the company’s hedging debts.
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