Talisman hunts for shale gas in Poland
Talisman Energy Inc. is shifting its focus toward unconventional natural gas plays in Canada and the United States, with an interest in the emerging shale play in Poland.
Talisman, in partnership with San Leon Energy plc., plans to drill its first three wells in Poland in mid-2011.
Poland’s rocks are similar to those found in North America’s Montney and Marcellus plays, Richard Herbert, Talisman’s executive vice-president of exploration, said Tuesday. “[Poland’s plays] are much, much thicker, so there’s a big upside in the Polish shales if they are in fact gas-bearing,” Mr. Herbert said on a conference call to discuss Talisman’s second-quarter results for the period ended June 30. The company will begin seismic activity in the fourth quarter.
“It is an area that has had quite a land rush – a lot of companies have moved in there,” Mr. Herbert said. Talisman is a 60% partner with San Leon in three blocks in Poland’s north, near the Baltic Sea.
Location may be just as attractive as quantity for Talisman.
“Talisman identified Poland as a country with attractive geological conditions and access to European gas markets,” Tony Atherton, Talisman’s country manager for Poland, said at the recent Global Shale Gas Summit in Warsaw.
“It is very important just because it is another shale play,” said Phil Skolnick, an analyst at Canaccord Genuity Inc. “It kind of balances that North American price gas risk, because you’re going into a European market. The geology looks the same, so you don’t have a learning curve.”
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Poland’s rocks are similar to those found in North America’s Montney and Marcellus plays, Richard Herbert, Talisman’s executive vice-president of exploration, said Tuesday. “[Poland’s plays] are much, much thicker, so there’s a big upside in the Polish shales if they are in fact gas-bearing,” Mr. Herbert said on a conference call to discuss Talisman’s second-quarter results for the period ended June 30. The company will begin seismic activity in the fourth quarter.
“It is an area that has had quite a land rush – a lot of companies have moved in there,” Mr. Herbert said. Talisman is a 60% partner with San Leon in three blocks in Poland’s north, near the Baltic Sea.
Location may be just as attractive as quantity for Talisman.
“Talisman identified Poland as a country with attractive geological conditions and access to European gas markets,” Tony Atherton, Talisman’s country manager for Poland, said at the recent Global Shale Gas Summit in Warsaw.
“It is very important just because it is another shale play,” said Phil Skolnick, an analyst at Canaccord Genuity Inc. “It kind of balances that North American price gas risk, because you’re going into a European market. The geology looks the same, so you don’t have a learning curve.”
To read more click here