Thursday, September 2, 2010

Talisman (NYSE:TLM) Selling Assets to Husky (TSE:HSE)

While most assumed it to be so, Talisman Energy Inc. (NYSE:TLM) has let it be known that they are the company selling natural gas assets to Husky Energy Inc. (TSE:HSE).

The original announcement by Husky was they were acquiring an asset which produced about 65 million cubic feet of gas a day, pointing to Talisman, although not confirmed by Husky at the time.

Production from the acquisition will be about 37 million barrels oil equivalent of proven reserves and 11.7 million of probable reserves.

On a daily basis that would energy equivalent to 10,800 barrels a day.

Recent gas-weighted have on average brought close to $45,000 per flowing barrel of oil equivalent, making this deal at somewhere between $400 million to $500 million.

Husky is controlled by billionaire Li Kashing, based in Hong Kong.

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