Boston, MA 06/02/2014 (wallstreetpr) – Talisman Energy Inc. (USA) (NYSE:TLM), a leading oil and natural gas company, is headquartered in Canada and operates across Columbia, North America and Asia-Pacific. Lately, TLM convened a meeting wherein it announced the holistic voting results pertaining to the election of personnel for TLM’s board of directors.
Quarterly Estimates
On the same date, Talisman Energy Inc. (USA) (NYSE:TLM) announced its unaudited and operating results of Q1-2014. The company depicted that its cash flow witness a raise of 19% to $616 million, year-over-year. Further, the company’s liquid production across North America soared up 45% to 42K boe/d YoY; net liquid production increased to 142,000 boe/d, increasing 10%! Gross debts too reduced emphatically by $1 billion from Q4-2013.
CEO Speaks
CEO and President of TLM, Hal Kvisle conjectured that the company has witnessed strong performances in this quarter, year-over-year, and opined that the company is deemed to fulfill its objectives! The company’s ongoing operations enhanced by 6%, estimating at 360,000 boe/d, in Q1-2014. TLM is steadily ameliorating its capital efficiency, reducing costs sumptuously.
Objectives That Bolster Growth
In 2014, Talisman Energy Inc. (USA) (NYSE:TLM) has operated with a focus, to grow its cash flow rate and increase sustainable shareholder value across APAC and the Americas. To fulfill its objective, TLM intends to reduce its capital expenditure, create high margin production and ensure holistic growth in the nearest term. Further, the company expects to improve its cash margins by bettering its operating performance, dispose of non-core capital-intensive and long-dated assets, thus maintaining strong balance sheet. In Q1-2014, TLM spent $768 million vide capital expenses.
Yield In TLM’s Businesses In Q1
TLM delivered steady YoY liquids’ growth across North America, driven by exquisite performances in the Greater Edson and Eagle Ford areas. Though natural gas production lowered in Q1, YoY, higher gas prices helped TLM amass a $120 million increase in the gas revenues. TLM’s Southeast Asia’s businesses yielded 7% growth in Q1, though marred by gas fluctuations and declines in PM-3 CAA and demand impacting corridors. Talisman Energy Inc. (USA) (NYSE:TLM) bagged a 21% increase in production, averaged at 35K boe/d, in the sites overlooking the North Sea.
