Talisman Energy Announces Agreement to Sell Cutbank Complex Mid-Stream Assets for $300 Million
April 29 2009 - 3:05PM
Marketwired
Talisman Energy Canada (Talisman) has entered into an agreement to
sell its Cutbank Complex mid-stream assets in west central Alberta
for total proceeds of approximately C$300 million to Pembina Gas
Services Limited Partnership, a subsidiary of Pembina Pipeline
Corporation of Calgary.
The sale of the Cutbank Complex includes working interests in
three interconnected sweet gas processing facilities (the Cutbank,
Musreau and Kakwa Gas Plants) nine compressor stations and more
than 300 kilometres of gathering lines. The complex has an
aggregate existing processing capacity of 360 mmcf/d.
The sale is subject to regulatory approval, with an expected
closing date of June 2, 2009.
Talisman Energy Inc. (TSX: TLM) (NYSE: TLM) is a global,
diversified, upstream oil and gas company, headquartered in Canada.
Talisman's three main operating areas are North America, the North
Sea and Southeast Asia. The Company also has a portfolio of
international exploration opportunities. Talisman is committed to
conducting business safely, in a socially and environmentally
responsible manner, and is included in the Dow Jones Sustainability
(North America) Index. Talisman is listed on the Toronto and New
York Stock Exchanges under the symbol TLM. Please visit our website
at www.talisman-energy.com.
Contacts: Talisman Energy Inc. - Media and General Inquiries
David Mann, Vice-President, Corporate & Investor Communications
(403) 237-1196 (403) 237-1210 (FAX) Email: tlm@talisman-energy.com
Website: www.talisman-energy.com Talisman Energy Inc. - Shareholder
and Investor Inquiries Christopher J. LeGallais, Vice-President,
Investor Relations (403) 237-1957 (403) 237-1210 (FAX) Email:
tlm@talisman-energy.com Website: www.talisman-energy.com