Talisman Energy Inc., Calgary, subsidiary Fortuna Energy Inc. has acquired gas properties, production and facilities in New York for $250 million. The assets include approximately 150,000 net acres of land (mostly 100% working interest), 115 billion cu. ft. of proved gas reserves and production of 55 million cu. ft. of gas per day. The price per thousand cu. ft. of proved reserves is US$1.40, according to Talisman. Teco Energy Inc., Tampa, Fla., subsidiary Teco Coalbed Methane has sold its coalbed-methane gas-producing assets in Alabama to the Municipal Gas Authority of Georgia and received the second installment of the cash proceeds of $98 million. St. Mary Land & Exploration Co., Denver, plans to acquire properties from Flying J Oil & Gas Inc. and Big West Oil & Gas Inc. The assets include an estimated 69 billion cu. ft. of gas equivalent of proved reserves. The properties are primarily in the Williston, Powder River and Green River basins and currently produce an estimated 2,100 bbl. of oil and 8.2 million cu. ft. of gas per day. Patina Oil & Gas Corp., Denver, has acquired the remaining half of Elysium Energy LLC for approximately $25.8 million from an undisclosed seller. The assets include properties in the Illinois Basin, central Kansas and Texas. The net incremental proved reserves acquired are estimated at 28.7 billion cu. ft. of gas equivalent, comprised of 4.3 million bbl. of oil and 3.2 billion cu. ft. of gas. Net daily production is approximately 8 million cu. ft. of gas equivalent, comprised of 800,000 cu. ft. of gas and 1,200 bbl. of oil. Additionally, Patina plans to acquire approximately 250 billion cu. ft. of gas equivalent of proved reserves for $213 million. Penn Virginia Corp., Radnor, Pa., acquired a 25% working interest in properties in a producing field in South Texas for $32.5 million in cash. The assets include proved reserves of 31.8 billion cu. ft. equivalent of gas. The price per thousand cu. ft. of gas equivalent of proved reserves is $1.02, according to Penn Virginia. Current daily production is approximately 11.4 million cu. ft. of gas and 570 bbl. of oil.
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