Talisman’s Marcellus shale play, located in New York and Pennsylvania, remains a major area of investment in 2011. Talisman's main area of focus is in Pennsylvania. The Company now holds 223,000 Tier 1 net acres in Pennsylvania with approximately 2,000 net drilling locations.
The Company plans to drill approximately 100 net wells in the Pennsylvania Marcellus in 2011. The Company exited 2010 with production of 315 mmcf/d, up from 65 mmcf/d at the end of 2009. The majority of Talisman's Marcellus wells for 2011 have been permitted, and the Company has secured sufficient egress capacity, water access and disposal for its 2011 plans.
In New York, the state continues to review its environmental assessment procedures and regulations for operations. This is effectively preventing all horizontal drilling activities in New York at this time.
