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Sasol buys into Canadian energy firm

Dec 20 2010 10:42 Reuters

Company Data

Sasol Limited [JSE:SOL]

Last traded 627.57
Change -9.27
% Change -0.01
Cumulative volume 933802
Market cap 408.31bn

Last Updated: 25/07/2014 at 04:34. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Petrochemicals group Sasol [JSE:SOL] has entered an agreement to buy a 50% stake in Canada's Farrell Creek assets for R7.12bn from Talisman Energy.

Sasol, the world's largest producer of fuels from coal, said the two companies have agreed to establish a 50-50 general partnership in Canada that will own Farrrel Creek Assets.

The company said on Monday that Talisman will continue to operate the Farrell Creek assets, associated gas gathering systems and processing facilities.

The two companies have agreed to conduct a joint feasibility study on the economic viability of a gas-to-liquid facility in western Canada.

They have also agreed to collaborate on other western Canadian natural resource opportunities.

Talisman, which is also listed on the Toronto and New York exchanges, is a major producer of gas in the Marcellus shale and also holds leading positions in the Montney, Utica, and Eagle Ford shales.
sasol  |  talisman energy
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