- Talisman 2010 Highlights
- About Our Company
- Financial and Operating Highlights
- President's Message
- Where We Operate
- Looking to 2011
- Management's Discussion and Analysis
- 2010 Performance
- 2010 Net Income Variance
- Continuing Operations Review
- Acquisitions
- Discontinued Operations
- Reserves Replacement
- Liquidity and Capital Resources
- Sensitivities
- Commitments and Off-Balance Sheet Arrangements
- Risk Management
- Summary of Quarterly Results
- Outlook for 2011
- Internal Control Over Financial Reporting and Disclosure Controls and Procedures
- Litigation
- Application of Critical Accounting Policies and Use of Estimates
- Changes in Reporting Conventions
- New US Accounting Pronouncements
- New Regulatory Developments
- International Financial Reporting Standards (IFRS)
- Risk Factors
- Advisories
- Abbreviations and Definitions
- Consolidated Financial Statements
- Report of Management
- Management Report on Internal Control Over Financial Reporting
- Independent Auditors' Report on Internal Controls Under Standards of the Public Company Accounting Oversight Board (United States)
- Independent Auditors' Report of Registered Public Accounting Firm
- Consolidated Balance Sheets
- Consolidated Statements of Income
- Consolidated Statements of Comprehensive Income (Loss)
- Consolidated Statements of Changes in Shareholders' Equity
- Consolidated Statements of Cash Flows
- Notes to the Consolidated Financial Statements
- Supplementary Oil and Gas Information
- Results of Operations from Oil and Gas Producing Activities
- Capitalized Costs Relating to Oil and Gas Activities
- Costs Incurred in Oil and Gas Activities
- Standardized Measure of Discounted Future Net Cash Flows from Proved Reserves
- Discounted Future Net Cash Flows from Proved Reserves
- Principal Sources of Changes in Discounted Cash Flows
- Continuity of Net Proved Reserves 1
- Additional Information
- Detailed Property Reviews
- Governance
- Investor Information
- Corporate Information
- Advisories
- Market Information
| Canada | US | UK | Scandinavia | Indonesia | Other Southeast Asia | Other | Total | |
|---|---|---|---|---|---|---|---|---|
| Oil and liquids (mmbbls) | ||||||||
| Total proved | ||||||||
| Proved reserves at December 31, 2007 | 123.9 | – | 385.3 | 67.2 | 13.6 | 30.1 | 27.6 | 647.7 |
| Discoveries, additions and extensions | 12.1 | – | 15.0 | 8.3 | – | (0.3) | (0.3) | 34.8 |
| Purchase of reserves | 0.3 | – | – | – | – | – | – | 0.3 |
| Sale of reserves | (0.3) | – | (17.5) | (1.6) | – | – | – | (19.4) |
| Net revisions and transfers | 7.4 | – | (133.2) | (5.3) | 4.2 | 2.0 | 3.1 | (121.8) |
| 2008 Production | (11.9) | – | (34.2) | (12.0) | (1.7) | (4.7) | (4.1) | (68.6) |
| Proved reserves at December 31, 2008 | 131.5 | – | 215.4 | 56.6 | 16.1 | 27.1 | 26.3 | 473.0 |
| Discoveries, additions and extensions | 4.0 | – | 5.2 | 1.1 | (0.5) | 5.3 | 6.5 | 21.6 |
| Purchase of reserves | 0.1 | – | – | – | 0.7 | – | – | 0.8 |
| Sale of reserves | (39.0) | – | (0.2) | (4.0) | – | – | (3.7) | (46.9) |
| Net revisions and transfers | 2.7 | – | 76.8 | 14.5 | (1.8) | 3.8 | (4.7) | 91.3 |
| 2009 Production | (9.9) | – | (31.1) | (12.3) | (1.8) | (7.6) | (3.4) | (66.1) |
| Proved reserves at December 31, 2009 | 89.4 | – | 266.1 | 55.9 | 12.7 | 28.6 | 21.0 | 473.7 |
| Discoveries, additions and extensions | 4.7 | 2.5 | 6.8 | 9.7 | 1.4 | 2.5 | 1.0 | 28.6 |
| Purchase of reserves | – | 0.9 | – | – | 1.5 | – | – | 2.4 |
| Sale of reserves | (15.1) | (0.2) | – | – | – | – | (0.5) | (15.8) |
| Net revisions and transfers | (2.4) | 0.1 | 18.0 | 1.8 | (0.8) | 0.6 | (0.2) | 17.1 |
| 2010 Production | (6.6) | (0.1) | (27.0) | (14.2) | (2.0) | (6.1) | (2.4) | (58.4) |
| Proved reserves at December 31, 2010 | 70.0 | 3.2 | 263.9 | 53.2 | 12.8 | 25.6 | 18.9 | 447.6 |
| Proved developed | ||||||||
| December 31, 2007 | 118.9 | – | 342.6 | 25.6 | 10.7 | 18.9 | 25.4 | 542.1 |
| December 31, 2008 | 122.0 | – | 172.0 | 24.8 | 13.5 | 17.7 | 20.2 | 370.2 |
| December 31, 2009 | 82.1 | – | 196.0 | 26.1 | 11.0 | 21.2 | 13.0 | 349.4 |
| December 31, 2010 | 65.6 | 0.7 | 210.6 | 21.6 | 8.6 | 18.6 | 9.8 | 335.5 |
| Natural gas (bcf) | ||||||||
| Total proved | ||||||||
| Proved reserves at December 31, 2007 | 2,087.1 | 109.0 | 100.2 | 78.9 | 1,359.0 | 245.5 | 223.3 | 4,203.0 |
| Discoveries, additions and extensions | 249.7 | 29.4 | 12.4 | 12.1 | (30.3) | 20.2 | 0.4 | 293.9 |
| Purchase of reserves | 11.9 | 2.4 | – | – | – | – | – | 14.3 |
| Sale of reserves | (55.2) | – | – | – | – | – | – | (55.2) |
| Net revisions and transfers | 113.3 | 1.3 | (3.2) | 17.8 | 143.0 | 42.8 | (0.7) | 314.3 |
| 2008 Production | (237.6) | (22.9) | (13.8) | (6.9) | (64.0) | (18.8) | (0.2) | (364.2) |
| Proved reserves at December 31, 2008 | 2,169.2 | 119.2 | 95.6 | 101.9 | 1,407.7 | 289.7 | 222.8 | 4,406.1 |
| Discoveries, additions and extensions | 185.6 | 474.6 | – | (0.5) | 62.8 | 25.3 | – | 747.8 |
| Purchase of reserves | 14.2 | – | – | – | 7.5 | – | – | 21.7 |
| Sale of reserves | (115.8) | (1.4) | (67.0) | – | – | – | (220.0) | (404.2) |
| Net revisions and transfers | 28.2 | – | 2.9 | 12.7 | (19.5) | (33.3) | (1.0) | (10.0) |
| 2009 Production | (238.4) | (26.2) | (7.0) | (21.1) | (84.4) | (20.3) | (0.1) | (397.5) |
| Proved reserves at December 31, 2009 | 2,043.0 | 566.2 | 24.5 | 93.0 | 1,374.1 | 261.4 | 1.7 | 4,363.9 |
| Discoveries, additions and extensions | 263.7 | 738.6 | 0.1 | 6.7 | 8.1 | (22.6) | – | 994.6 |
| Purchase of reserves | – | 17.5 | – | – | 42.4 | – | – | 59.9 |
| Sale of reserves | (772.5) | (5.8) | – | – | – | – | (1.6) | (779.9) |
| Net revisions and transfers | 11.2 | 10.3 | 4.9 | 12.1 | (57.2) | 14.3 | (0.1) | (4.5) |
| 2010 Production | (190.9) | (68.9) | (5.7) | (32.2) | (98.2) | (27.3) | – | (423.2) |
| Proved reserves at December 31, 2010 | 1,354.5 | 1,257.9 | 23.8 | 79.6 | 1,269.2 | 225.8 | – | 4,210.8 |
| Proved developed | ||||||||
| December 31, 2007 | 1,725.0 | 95.7 | 86.7 | 7.0 | 811.1 | 44.4 | 1.0 | 2,770.9 |
| December 31, 2008 | 1,785.8 | 101.8 | 65.5 | 99.0 | 1,022.2 | 149.0 | 1.2 | 3,224.5 |
| December 31, 2009 | 1,663.5 | 171.1 | 22.4 | 91.2 | 915.2 | 225.5 | 0.8 | 3,089.7 |
| December 31, 2010 | 1,011.4 | 584.9 | 22.0 | 73.3 | 763.7 | 187.2 | – | 2,642.5 |
- Talisman’s estimates of its reserves as at December 31, 2009 and December 31, 2010 are based on average pricing methodology. Talisman’s estimates of its reserves for years ended prior to December 31, 2009 were based on a single-day end-of-year price basis (using existing economic and operating conditions). For definitions of reserves, see the notes of this Annual Report.