TORONTO (Standard&Poor's) Oct. 12, 2010--Standard&Poor's Ratings Services today said that Talisman Energy Inc.'s (BBB/Stable/--) announced US$1.3 billion joint venture acquisition with Statoil ASA (AA-/Stable/A-1+) of 97,000 net acres in Texas' Eagle Ford play has no immediate effect on the ratings and outlook on the company. The net cost to Talisman will be US$485 million, after Statoil purchases a 50% working interest in Talisman's existing 37,000 Eagle Ford acres. Furthermore, based on our forecasts of operating cash flows, we believe the company's overall liquidity should accommodate the purchase and initial estimates of the capital required to continue developing this asset. The purchase price, at US$10,900 per acre, is in line with valuation metrics of other U.S. shale
