UPDATE: Talisman Energy Sinks to Loss in Q3 2012; Stocks Hurt, Down 1%
Talisman Energy Inc. (TLM.TO) reported third quarter 2012 net loss of $731 million, or $0.71 per share. In the same period last year, the company had a net income of $521 million, or $0.51 per share. Part of the quarterss loss reflects Talisman's writedown of its Quebec assets, to the tune of $109 million before taxes or $82 million after taxes.
Production from ongoing operations increased 6% over last year to 415,000 boe/d, driven by gas volumes in North America and liquids growth in Southeast Asia, Colombia and the Eagle Ford. Full-year production guidance remains unchanged.
TLM fell 1% to $11.93, trading near year low $9.72. Over 111,000 TLM shares have changed hands.
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