Talisman is one of the largest Canadian-based independent oil and gas producers in the world. Talisman’s main business activities include exploration, development, production, transportation and marketing of crude oil, natural gas and natural gas liquids.
Talisman’s aggregate production for the year ended December 31, 2011 was 426 mboe/d, comprised of 23 mbbls/d of oil and liquids and 899 mmcf/d of gas from North America; 98 mbbls/d of oil and liquids and 52 mmcf/d of gas from the North Sea; 34 mbbls/d of oil and liquids and 506 mmcf/d of gas from Southeast Asia; and 23 mbbls/d of oil and liquids and 34 mmcf/d of gas from other areas. Approximately 42% of the Company’s production is liquids and 58% is natural gas (on a 6 mcf:1 bbl
equivalency basis).
In 2012, Talisman plans to spend approximately $4 billion on cash capital expenditures. The Company has the flexibility to adjust its capital spending to pursue opportunities and respond to a changing economic outlook.
Talisman investigates strategic acquisitions, dispositions and other business opportunities on an ongoing basis, some of which may be material. In connection with any such transaction, the Company may incur debt or issue equity securities.
