Market Chatter: Talisman Energy to Produce Oil in Vietnam, Papua New Guinea; Shares Edge Up

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Talisman Energy Inc. ( TLM ) edged up 0.2% to around $13.50 in midday trading after Reuters reported the company will launch new crude oil and condensate production in Vietnam and Papua New Guinea in the next two years.

TLM is slated to start drilling at the Hai Su Trang and Hai Su Den fields offshore Vietnam in Q4, with crude production to start in the middle of next year. The company expects to start Stanley condensate production at the Papua New Guinea site in 2014.

TLM trades in the high end of its 52-week range of $9.46 - $15.21. Shares have increased 1% in the last 12 months.



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This article appears in: Investing , Commodities

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