Talisman Energy Canada (Talisman) has entered into an agreement to sell its Cutbank Complex mid-stream assets in west central Alberta for total proceeds of approximately C$300 million to Pembina Gas Services Limited Partnership, a subsidiary of Pembina Pipeline Corporation of Calgary.

The sale of the Cutbank Complex includes working interests in three interconnected sweet gas processing facilities (the Cutbank, Musreau and Kakwa Gas Plants) nine compressor stations and more than 300 kilometres of gathering lines. The complex has an aggregate existing processing capacity of 360 mmcf/d.

The sale is subject to regulatory approval, with an expected closing date of June 2, 2009.

Tags: Talisman Energy