09:52 AM EST - Talisman Energy Inc. : announced its capital spending plans of $5.2 billion for 2010, which is an increase of greater than 10% over 2009. The $4.9 billion in cash spending will be funded from operating cash flow, non-core asset sales and balance sheet strength. Approximately $300 million of the capital budget consists of non-cash items. The company expects to increase spending this year, reflecting increases in shale drilling in North America and higher development spending in Southeast Asia and the North Sea. Production in 2010 is expected to be broadly the same as 2009, at around 425,000 boe/d, excluding any sales in North America during the year. Talisman Energy Inc.
shares T.TLM are trading up $0.15 at $20.73.
