Talisman Energy exited 2011 producing more than 54 mmcfed. That’s up from just 8 mmcfed in the fourth quarter of 2010 and means total operated production is over 100 mmcfed. Talisman operates a 50/50 JV with Statoil in the Eagle Ford.
Talisman operates 10 rigs in the play currently and has plans to ramp up to 14 rigs by the end of the year. The company has $500 million in spending planned for the Eagle Ford in 2012, which means the partnership will spend more than $1 billion developing acreage during the year. With $1 billion budgeted for the partnership, I expect the four additional rigs will be added in the later half of the year.
Production is expected to at least double from approximately 30 mmcfe/d as we build out our drilling programs and secure access to additional egress.
With 54 mmcfed of production at the end of 2011, I don’t believe Talisman will have any trouble averaging more than 60 mmcfed in 2012. It should be another big growth year for production in the Eagle Ford.
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