Deals
Talisman Sells Montney Assets to Petronas for $1.4 Billion
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Talisman Energy Inc., the Canadian oil and natural gas producer being targeted by investor Carl Icahn, agreed to sell part of its Montney acreage to Malaysia’s Petroliam Nasional Bhd for C$1.5 billion ($1.4 billion).
The transaction involves about 127,000 net acres, representing 75 percent of Talisman’s Montney shale holdings in the Farrell Creek and Cypress areas of British Columbia, the Calgary-based company said today in a statement. It includes C$800 million in drilling costs. Talisman rose 1.6 percent to C$12.42 at the close in Toronto.