Li Ka-shing’s Husky Energy to buy Alberta gas properties from Talisman
02 Sep 2010
Husky Energy Inc, one of Canada's largest integrated energy companies and controlled by Hong Kong billionaire Li Ka-shing, yesterday said that it is buying Talisman Energy's natural gas properties in west central Alberta, Canada.
Husky said in a statement the acquisition will significantly add to the company's production and reserves and extend the optimum utilisation of its Ram River Gas Plant.
The Ram River region in the foothills of central Alberta, Calgary, is a core gas producing area for Husky.
The company currently produces 50 mmcf / d. The acquisition adds 160,000 acres of land to the company's holdings, including 122,000 undeveloped acres, doubling Husky's current land holdings in the region.
The asset acquisition will provide Husky with more than 65 million cubic feet per day (mmcf/d) of natural gas production or 10.8 thousand barrels of oil equivalent per day (mmboe).
In addition, the acquisition will contribute 37 mmboe of proven reserves and 11.7 mmboe probable reserves.
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