Talisman's conventional assets in North America are primarily located in the following areas: tight gas in the Outer Foothills; tight oil and gas in the Greater Edson area; deep gas in the foothills of Monkman, British Columbia and Alberta Foothills; and oil operations in Alberta/Saskatchewan in the Chauvin and Shaunavon fields. Talisman continued to develop its conventional assets throughout 2010 with exploration and development spending of over $240 million, resulting in net sales production of 700 mmcfe/d (117 mboe/d). In total, 83 net wells were drilled in 2010.
During 2010, Talisman sold non-core assets in Canada for aggregate proceeds of approximately $2 billion. These transactions included approximately 1.8 million net acres of land in the greater Peace River Arch area in Alberta and British Columbia, the Alberta Foothills and Hinton areas in Alberta, as well as Shaunavon non-unit acreage in Saskatchewan and Talisman's interests in various Ontario properties. The assets collectively produced approximately 45,000 boe/d (approximately 90% natural gas) at the end of 2009.
In the conventional portfolio, the focus for 2011 will also be on liquids opportunities. Talisman expects that 2011 conventional exploration and development spending of approximately US$380 million will focus on expanded oil development programs in the Chauvin and Shaunavon properties, as well as continuation of the pilot programs in the Cardium oil and wet gas windows.
