Talisman
Energy Inc. (TLM), the Canadian oil and natural gas producer seeking to unwind
some international operations, may still consider selling assets to Spain’s Repsol
SA. (REP)
 |
| Talisman Still Considering Asset Sales to Repsol |
“We may do something with
Repsol down the road, but probably not of the significance people were
expecting,” Hal Kvisle, chief executive officer of the Calgary-based producer,
said in an interview in Banff, Canada. “They
were quite interested in some” of the assets Talisman is selling, he said.
Kvisle is trying to sell assets
as he seeks to rein in debt and refocus a company with operations spanning six
continents. Repsol dropped a plan to buy all of Talisman to instead weigh the
purchase of some of the company’s shale assets, people with knowledge of the
matter said in August.
Talisman said in July it had
been approached about “various transactions” by Repsol, noting that there was
no assurance that any deal would be reached.
The producer may announce a
partner to develop assets in the Duvernay shale formation in Alberta, which
will require about $20 billion of investment over two decades, Kvisle said. The
company has the capacity to spend between $400 million and $500 million a year
on the Duvernay.
“We’ll either know that we’ve
got a joint venture partner or not in the next couple of months,” Kvisle said.
Kvisle,
who is scheduled to be replaced as CEO by the end of the year, said he will
remain a member of the company’s board.
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