Talisman posts operating loss amid shift

Yme platform: Talisman takes impairment over project uncertainty

ASGAUT NAESS

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News Wires

 13 February 2013 23:54 GMT

Talisman Energy’s push to resuscitate its share price and stave off takeover is gaining momentum as Canada's fifth-largest independent oil producer looks to jettison more assets and cut costs to deal with weak natural gas prices, its chief executive said on Wednesday.

The effort is now centering on North American and Asian operations as core operating regions while the company exits costly, higher-risk exploration, chief executive Hal Kvisle said according to Reuters after the company reported a fourth-quarter operating loss compared with a profit the previous year.

"We're focusing the capital program on opportunities that effectively have a bigger bang for the buck, and not so widespread," he said in an interview, according to the news wire.

"We need to be really zeroing in on opportunities that bring production in the near term, and less…

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