Talisman Sells $1.4B Montney Shale Stake To Process Energy

Law360, New York (November 8, 2013, 4:36 PM EST) -- Talisman Energy Inc. said Friday that it would sell a portion of its assets in western Canada's Montney shale to Progress Energy Canada Ltd. for CA$1.5 billion ($1.4 billion).

Talisman said selling 75 percent of its Montney shale acreage in the Farrell Creek and Cypress areas of British Columbia — approximately 127,000 net acres — will allow it to pay down debt and strengthen its balance sheet. The company, which is also selling associated pipeline and production facilities, said it will retain its Groundbirch and Saturn...
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