Talisman gas tops billion cubic feet a day - The Canadian Press, Dec.16
CALGARY (CP) - While political and investor attention has been
focused on its oil operation in Sudan, Talisman Energy (TLM) has
increased its output of natural gas - mostly in Canada - to more than one
billion cubic feet per day.
The company said Thursday that gas production in October averaged
1.007 billion cubic feet a day, up 28 per cent from a year earlier. Oil and
liquids production averaged 207,539 barrels a day, up 45.5 per cent.
Total daily production at Canada's biggest independent energy producer
was 375,000 barrels of oil equivalent, up 37 per cent from October
1998.
"Producing a billion cubic feet per day is an important milestone for
Talisman," CEO Jim Buckee said in a statement.
"Estimated cash flow in October was $140 million and we are on track
for a phenomenal fourth quarter. This growth will continue next year, with
expected production of over 400,000 barrels of oil equivalent per day."
The controversial Sudanese operation - linked by human-rights and
church groups to civil war and slavery in the African country - accounted
for just under half of Talisman's year-over-year oil production increase.
Talisman's share of the newly on-stream venture amounted to about
34,400 barrels a day in October, compared with 70,000 barrels a day
produced in Canada and 75,000 in the North Sea. Production in
Indonesia fell 14 per cent to 28,100 barrels a day.
Talisman's Western Canada gas operations produced 787 million cubic
feet a day, while its North Sea unit averaged 109 million and Indonesia
produced 111 million.
Talisman's realized oil price averaged $29.52 a barrel, up 59 per cent
from a year earlier, while natural gas prices rose 10 per cent to $2.53
per thousand cubic feet.
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