In a move intended to focus more attention on unconventional natural gas plays, Calgary’s Talisman Energy Canada and affiliate Fortuna LP said Wednesday they are selling legacy properties in southeastern Saskatchewan and Daniels County, MT, for C$720 million.

The properties are being sold to Crescent Point Resources LP and TOG Partnership, an affiliate of Tristar Oil & Gas Ltd.

“This is in keeping with our strategic objective to focus Talisman’s portfolio on material core assets,” said Talisman CEO John A. Manzoni. “Although southeast Saskatchewan has been part of our legacy, the majority of our capital spending and effort in North America going forward will be deployed to accelerate success in our unconventional natural gas plays.”

The sale includes 610,000 net acres of land, with nearly three-quarters of the property in Saskatchewan, including fee title lands. The properties have around 8,500 boe/d net production as well as Talisman-owned and -operated infrastructure.

An independent, NI-51-101 compliant reserves report by AJM Petroleum Consultants that was issued on Monday estimated that net to Talisman, the properties’ proved reserves total 20.1 MMboe, with proved plus probable reserves estimated at 34.1 MMboe.

The sale, expected to close by June 1, is subject to regulatory approval. FirstEnergy Capital Corp. acted as Talisman’s adviser.

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