Talisman Energy Inc. (TLM,TLM.TO) announced its capital spending plans for 2011. The company expects 5% - 10% production growth this year. Cash spending on exploration and development is expected to be relatively unchanged at around US$4 billion, maintaining capital discipline in an uncertain commodity price environment.
In addition, the BP Colombia acquisition would add 12,000-15,000 boe/d of incremental production. About half of this production growth would be liquids.
Cash exploration and development spending of around US$4 billion, approximately the same as 2010. In addition, US$370 million of non-cash capital items is expected.
In North America, the company plans to spend approximately US$1.7 billion in 2011, with emphasis shifting to liquids rich opportunities, primarily in the Eagle Ford shale and conventional oil plays. Spending on dry gas will be 35% lower than 2010.
Commencing in 2011, Talisman will be reporting in US dollars to reflect the fact that the majority of company transactions occur in US dollars, and this is the functional currency of the company. Talisman's 2010 year-end results, which the company plans to issue on February 16, 2011, will be reported in Canadian dollars.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.