CALGARY - Talisman Energy Inc. (TSX:TLM) plans to spend $5.2 billion on capital projects in 2010, a 10 per cent increase over 2009.
The Calgary-based international oil and gas company says North American shale properties will receive $1.6 billion of that, or more than one-third of the total.
Talisman and other producers have been working to unlock huge amounts of natural gas from shale rock formations that was once too difficult to tap.
The company says its main priority in 2010 will be to ramp up development of its shale gas proprities while maintaining stable cash generation from the North Sea.
Talisman plans to spend $800 million in the U.K. North Sea this year as well as $550 million on development projects in Norway.
Southeast Asia will receive about $780 million in development spending this year's and $700 million will be spent on international exploration projects.
Nearly one-third of Talisman Energys $5.2-billion 2010 capital budget will be on shale gas
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Published on
January 11, 2010
- Published on February 24, 2010
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The Canadian Press ~ The News
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