REFILE-UPDATE 1-Talisman Energy posts $1 bln loss; plans $2 bln asset sales

Wed Feb 12, 2014 9:48am EST
 
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* Posts 4th-qtr loss on back of $826 mln impairment charge

* Says aiming to sell $2 bln of assets over 12-18 months

* Expects to spend about $3.2 bln in 2014, unchanged from 2013

* Americas and Asia-Pacific to account for 90 pct of 2014 output

Feb 12 (Reuters) - Talisman Energy Inc, Canada's No. 5 independent oil and gas producer, posted a $1 billion quarterly loss due to an asset impairment charge and said it plans to sell a further $2 billion of assets over the next 12-18 months.

Talisman has been slimming its operations and cutting debt in a effort to boost its share price to satisfy disgruntled and activist investors. The company has said that Chief Executive Hal Kvisle will step down in 2014.

The oil producer raised over $2 billion from asset sales in 2013, including the sale of 75 percent of its Montney assets and its equity interest in the Ocensa pipeline in Colombia.

Reuters reported in January that Talisman late last year rejected a $17 billion bid from French utility GDF Suez .   Continued...