This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Talisman adds 170,000 net acres in natural gas plays 2009-11-03 05:18 ET - News Release Mr. David Mann reports TALISMAN ENERGY ADDS 170,000 NET ACRES IN PENNSYLVANIA MARCELLUS & MONTNEY SHALE Talisman Energy Inc. has substantially increased its landholdings in two of the top unconventional natural gas plays in North America and is increasing its development programs. "I am very excited as we accelerate our shale programs in North America on the heels of excellent drilling results and the continued growth of a very large, high-quality land position in two of the best shale plays in North America," said Paul Smith, executive vice-president, North American operations. "We have positioned ourselves for a significant increase in drilling and production in the Marcellus shale next year and are planning to move segments of our Montney shale play to commercial development at the beginning of next year. "We have been successful in doubling our Tier 1 unconventional acreage in the Pennsylvania Marcellus and the Montney shales over the past few months. Recognizing that not all shale acreage is created equal, we define Tier 1 as top-quality acreage with an expected full-cycle break-even of approximately $4 per 1,000 cubic feet. In these two plays alone, we have added 170,000 net acres through a combination of acquisitions and swaps for $570-million. The company now holds approximately 350,000 net acres of Tier 1 land in these two areas, with the potential for 4,800 net drilling locations. The remainder is available to Stockwatch subscribers.
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