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Talisman Energy To Invest C$1 Billion In PA Marcellus Shale Development
Talisman Energy Inc. this week announced its capital spending plans for 2010. In the Pennsylvania Marcellus play, Talisman has budgeted close to C$1 billion, ramping up to 10 rigs (currently six) over the course of 2010.

The plan is to drill 170 net wells in the Marcellus this year (up from 53 in 2009), with about 145 wells completed and tied-in. The company expects to exit 2010 at between 250-300 mmcf/d, up from 65 mmcf/d at the end of 2009. Plans are built on an expected ultimate recovery per well of 3.5 bcf, with 30 day initial production rates of 3 mmcf/d.

The majority of Marcellus wells have been permitted and the company has secured sufficient egress capacity, water access and disposal for its 2010 plans.

The complete announcement is available online.

1/18/2010

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