Talisman Energy Announces $1.5 Billion All Cash Sale for Portion of Montney Position

Talisman Energy Inc. (Talisman) (TLM.TO)(TLM) announced that it has reached an agreement to sell part of its Montney acreage in northeast British Columbia to Progress Energy Canada Ltd. for a total cash consideration of CDN$1.5 billion.

The transaction represents the sale of approximately:

• 75% (~127,000 net acres) of Talisman's Montney position in the Farrell Creek and Cypress areas of British Columbia.
• 65 mmcfe/d of Farrell Creek production as of Oct 1, 2013, which is expected to increase in the fourth quarter as we conclude the 2013 completion program, and associated facilities.
• CDN$800 million of remaining third party capital carry estimated at 2013 year end (~CDN$870 million at effective date October 1, 2013).

  Published: 08 November 2013

  Written by Editor

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ARC Resources Ltd. announces a $915 million capital program targeting 17 per cent growth in production in 2014

ARC Resources Ltd. ("ARC") announced today that its Board of Directors has approved a $915 million capital program for 2014 directed at high value oil and liquids-rich gas plays and investment in its low cost Montney gas assets.  ARC expects annual average production growth of approximately 17 per cent in 2014.

Myron Stadnyk, ARC's President and Chief Executive Officer, said, "With a clear line of sight toward future value creation, we are building a long-term sustainable business on the back of our world class assets while continuing to pay a meaningful dividend to our shareholders.

Pacific Rubiales receives environmental licences for the CPE-6 and Guama E&P blocks, allowing for the advancement of exploration and development activities

Pacific Rubiales Energy Corp. (TSX: PRE) (BVC:PREC) (BOVESPA:PREB) is pleased to announce that it has received the environmental licences from the Colombian environmental authority, Autoridad Nacional de Licencias Ambientales ("ANLA"), required to advance its planned exploration and development activities in both the CPE-6 and Guama E&P blocks, located in Colombia.

The CPE-6 E&P block covers an area of approximately 593 thousand acres in the southern Llanos Basin and lies along the heavy oil trend approximately 70 kilometers southwest of the Company's operated Rubiales/Quifa SW giant oil field complex. Pacific Rubiales has a 50% working interest and is operator of the block. Talisman (Colombia) Oil and Gas Ltd., a wholly owned subsidiary of Talisman Energy Inc. (TSX:TLM.TO ) holds the remaining 50% working interest.

Devon Energy and Crosstex Energy to Create New Midstream Business

Devon Energy Corporation (DVN) (“Devon”), Crosstex Energy, Inc. (XTXI) and Crosstex Energy, L.P. (XTEX) (collectively “Crosstex”) today announced the signing of definitive agreements to combine substantially all of Devon’s U.S. midstream assets with Crosstex’s assets to form a new midstream business. The new business will consist of two publicly traded entities: the Master Limited Partnership and a General Partner entity (the “Master Limited Partnership” and the “General Partner”, collectively “the New Company”). The New Company is expected to have adjusted EBITDA of approximately $700 million in 2014, before synergies. The transaction is expected to be immediately accretive to both Crosstex and Devon. A name for the New Company will be announced prior to the closing of the transaction.