Talisman Energy

www.talisman-energy.com
Employer Engaged

Talisman Energy – Why Work For Us?

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Talisman is committed to conducting its business safely and in an ethically, socially and environmentally responsible manner. The company is a participant in the United Nations Global Compact and is also included in the Dow Jones Sustainability North America Index. Talisman was the first Canadian company to join the Voluntary Principles on Security and Human Rights Plenary Group developed by the United States (US) and United Kingdom (UK) governments.

Talisman was established in 1992 and is headquartered in Calgary, Canada. Talisman is listed on the Toronto and New York stock exchanges under the symbol TLM. The company is also part of the S&P/TSX 60 Index.

"In 2014, we expect more improvements in performance, with continued growth in high-margin liquids production generating increased cash flow. While our overall production base will be lower as a result of non-core asset sales, production from ongoing operations in our two core regions, the Americas and Asia-Pacific, is expected to grow 4-7% with liquids volumes increasing 14-19%." Hal Kvisle, President and CEO

Our Strategy

Our objective is to create sustainable value for our shareholders. We will continue to position the company to achieve this by building on the foundational work started in 2013. We will continue to focus on the best assets in our two core regions (the Americas and Asia-Pacific), and maintain a disciplined capital spending program targeting near-term, high margin production. In addition, we announced the second phase of non-core asset sales to unlock $2 billion of additional value by divesting long-dated, capital intensive assets. Our goal in 2014 and beyond is to deliver annual cash flow per share growth, while maintaining a strong balance sheet.

2014 Guidance Summary

Growing liquids production from our two core regions:

• Targeting 14-19% liquids growth from the Americas and Asia-Pacific.

• Two core regions expected to deliver over 90% of total production.

• Expected growth in production from ongoing operations of 2-6%.


Unlocking additional value and further focusing the portfolio:

• A further $2 billion of dispositions or joint ventures planned during the next 12-18 months.

• Expect to divest long-dated, capital intensive assets and continue to strengthen and focus the portfolio within the two core regions.

• Proceeds will be used to maintain a strong and flexible balance sheet.


Two core regions will deliver higher cash margins and drive cash flow growth:

• Cash flow forecast to grow 5% to $2.3 billion in 2014, reflecting higher cash margins per barrel.

• Cash flow growth largely a result of increased high margin production from the Americas and Asia-Pacific.


Executing a disciplined capital program focused on near-term, high margin production:

• Capital expenditure is expected to be $3.2 billion, flat compared to 2013 and down 20% from 2012.

• 70% of expected 2014 capital expenditure will be invested in the Americas and Asia-Pacific core regions.


2014 Plan - Four priorities to drive value creation

Live within our means

Talisman has a large, attractive portfolio of investment opportunities, and we will continue to focus our capital on high-margin, near-term opportunities. Assets and projects with large capital requirements and long-dated returns have been identified as candidates for sale or farm-down.

Through disciplined capital allocation and cost control in our two core regions – along with additional expected dispositions of capital intensive assets – we remain committed to creating a business that generates sustainable cash flow growth and strong shareholder returns. Achieving $2 billion of planned asset sales over the next 12-18 months will enable us to maintain a strong balance sheet in the near term.

Focused capital program

Our two core regions, the Americas and Asia-Pacific, provide the foundations from which our company will grow. In North America, we are competitively positioned in a number of shale gas and liquids plays and have a core of profitable conventional properties. In Asia-Pacific, our core assets are characterized by long production life, low costs and high netbacks.

Between 2011 to 2014, Talisman will have reduced investment in low netback North American natural gas programs by 70% and increased investment in higher margin liquids projects in North America and Colombia. As a result, liquids volumes in the Americas are expected to grow from 31,000 bbls/d in 2011 to a range of 58,000 bbls/d to 61,000 bbls/d in 2014.

In 2013, capital spending was $3.2 billion – down $800 million from 2012. In 2014, we plan to hold spending flat at approximately $3.2 billion. Approximately $2.3 billion (around 70%) will be invested in the two core regions.

Improve operational performance and cash margins

Talisman continues to improve operational performance and cash margins, particularly in our North American shale operations, where we have reduced drilling and completion costs and cycle times.

Through our focus on operational excellence, we brought the HST/HSD oilfield development offshore Vietnam onstream ahead of schedule and under budget. As a result of the ongoing shift to higher margin production and increased efficiencies, cash margin per barrel of oil equivalent is expected to increase by approximately 6-11% in 2014.

By the end of 2013, excluding one-off costs, we reduced our underlying net G&A by 20% ($100 million on a run-rate basis) compared to 2012 and we intend to reduce that by a further 10% in 2014.

Unlock net asset value within the portfolio

In March 2013, Talisman set a 12-18 month target to realize $2-3 billion of value through the sale of non-core assets that were generating little or no short-term cash flow. We achieved this target within 12 months and asset sales agreed in 2013 and in Q1 2014 will total over $2.2 billion.

Over the next 12-18 months, we plan to dispose of approximately $2 billion of additional assets (primarily long-dated and capital intensive). The majority of the proceeds will be directed towards maintaining a strong and flexible balance sheet.


We are always looking for good people – our most important source of energy - to join our team.

We are an organization with strong values and a focus on attracting and developing the best talent available. We are committed to conducting business safely and in a socially and environmentally responsible manner. Our employees are driven, tackle opportunities to do challenging work, have a bias for results and thrive in a fast-paced, high-energy work environment. Our people see everyday as an opportunity to be leaders within Talisman, our communities and the industry.

As an international oil and gas company, our business takes us around the world in search of exploration and development opportunities. Headquartered in Canada, our two core operating areas are North America and Southeast Asia. We also have a portfolio of international exploration opportunities in the UK, Colombia, Norway, Kurdistan and Algeria. Our worldwide team is made up of nearly 3,000 full time employees in various professional, trades and field positions.

Sound exciting? If so, Talisman may be the right place for you.

undefinedOur values describe who we are and how we work at Talisman. They state what we believe in and what we stand for. They reflect our corporate culture and organizational behaviour. As a whole our values demonstrate how we act and expect to be treated as a member of the Talisman team. The following are some of our key values:

Safety 
Our goal is to create working conditions where we cause no harm to people.
 
Safe operations is our number one priority. If operational results and safety come into conflict, employees have a responsibility to choose safety. Talisman is committed to supporting this choice and providing the resources necessary to achieve safe working conditions.

Passion 
We inspire others by the passion we demonstrate for our work.
 When we feel passionate about what we do and the company we work for, we are more productive and more successful. We are happiest and excel when we do those things we are passionate about. Enthusiasm is inspirational!

Results 
We have a bias for results and take initiative to get things done efficiently, creating value for our shareholders.
 Effective results require a vision of what needs to be done, setting priorities and implementing realistic action plans. We are purpose driven and hold ourselves accountable for high quality, timely results.

Respect 
We take time to consider and appreciate other people's points of view, and treat the environment with respect.
 We value the diversity of our workforce and stakeholders and appreciate each other's unique strengths. Respect is about treating people with dignity, listening and displaying courtesy. In planning and executing our activities we take the environment into account, treating it with respect and striving to minimize the impact of our operations.

Excellence 
We strive for excellence in what we do and how we do it.
 Excellence is about working hard, being innovative and working smart; demonstrating a high degree of technical, professional and problem solving skills. Continuous performance improvement is required to maintain excellence.

Teamwork 
By working effectively together we can deliver results far beyond our individual capabilities.
 By working together, we can achieve superior results for the organization. Clear and common goals support teamwork. Effective teamwork is anchored in trust and being able to offer, ask for and accept help, advice and feedback.

Honest communication 
We show courage to speak honestly and support others to do the same.
 
We communicate honestly and truthfully and we provide full disclosure to stakeholders. Information and ideas flow unfiltered, up, down and across the organization. We speak the truth, even when the message is difficult and the conversation may be uncomfortable.

undefinedGreat people. Great values. Great opportunities. Great rewards. If these sound exciting to you, Talisman may be the right place for you.

Our culture is built on employees’ energy, and we work hard to make Talisman a great place to work. 

Great People
We have nearly 3,000 employees in various professional, trades and field positions in more than a dozen countries. Such a diverse workforce helps ensure our company is benefiting from a wide range of backgrounds, perspectives and experiences. For you, this means exposure to a diversity of expertise and knowledge that can only come from a global workforce.

We work hard at attracting and retaining employees who will contribute positively to our culture. This includes:

  • Experienced people who share their know-how and mentor our next generation of leaders;
  • Ones new to the workforce or industry who are driven and want to learn; and
  • Those in between who are looking to make a solid contribution while further developing themselves. Together, this gives you access to an international network of colleagues.

Check out Our People to read about some of our employee's experiences.

Great Values
Our culture is rooted in our values: safety; passion; results; respect; excellence; teamwork; and honest communication. Our values can be found wherever we operate, and they set us apart in professional excellence. We pay close attention to how we work and to providing employees with a great place to work.

We all play an active role in ensuring our workplace is safe for people, communities where we operate and the environment. It is our responsibility to treat our employees with respect. We are  considerate and respectful of individual cultures and beliefs. Working to let our people reach their full potential and creating a work environment where they can excel is important. We strive to build a working environment that is exciting and rewards achievements.

Great Opportunities
Talisman’s global people priority is development, and your ability to tap into the knowledge of colleagues around the world is a benefit of working with us. But so is the access to a range of learning and development activities that employees can participate in to broaden their skills and continuously improve. We provide you with opportunities – as well as the support and tools for development – that equip and empower you to build your career.

We believe learning happens in three distinct ways: education, experience and exposure. So in addition to traditional classroom training, Talisman offers experiential learning opportunities such as working on cross-functional and project teams and participating in secondments, both locally and internationally. We offer challenging work, and are continuously improving our development programs and activities to help enhance employees’ on-the-job experience and development.

Great Rewards
Working with us, you can expect to go further as part of a team that is driven by a passion for energy and a bias for results. Our rewards philosophy recognizes that company performance is largely a reflection of employees’ contributions, and our total rewards programs are designed to reward employees for their share in the company's success.

We reward based on performance, achievement and embodiment of our values. Our rewards plans are designed to align employee performance with business success and increasing shareholder value. We also offer educational assistance programs, flexible health plans and a global employee and family assistance program.

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At Talisman, our essence is people, not just barrels of oil and gas. Most of us only see the drilling rigs or the pump jacks or the pipelines that bring these valuable resources to market. Some of us may only see the numbers on the financial sites or stock markets. What we don’t see are the numerous dedicated, hardworking and ingenious professionals who come together everyday to devise, build and operate these assets. People who day in and day out do their work safely, responsibly and profitably. These people and the many more who will be invited to join us over the coming years will build their successful careers shaping Talisman into a financially strong and enviable global energy employer. We invite you to spend a few more minutes reading why some of our people care so much about our company and thank you for considering Talisman as your place to grow.


“I would definitely recommend a career at Talisman to anybody seeking a company that develops its employees. I am often provided with opportunities to experience new types of work, and the development of my skills and career have always seemed to be an area of focus while working here.”

Torey P., Staff Auditor, Internal Audit, Calgary, Canada

 “The skills I learned as a student fast-tracked my career into a development geologist role with an integrated team.   I look forward to sharing ideas with colleagues and striving to exceed production targets.  Our team has fun together and each day is full of new challenges.”

Heather W., Geologist-in-Training, Canadian Delivery Unit, Calgary, Canada


“There are a few things about Talisman that stand out to me. There are the great people and they’ve shown teamwork through even our most challenging times. I’ve been given responsibility and trust from managers and colleagues, and opportunities to take on new exciting opportunities elsewhere in Talisman. As well, the company’s values fit naturally with my own.”

Arvid S., Yme Offshore Installation Manager – International Operations West, Stavanger, Norway


“At Talisman, I have the opportunity to work with a great team of motivated people. Every single day, I am exposed to different people, situations, challenges and opportunities. This keeps me inspired and feeling empowered to act as a leader and deliver results.”

Andres V., Finance Manager – International Exploration, Bogota, Colombia


“I’ve been a part of teams driven by the pursuit for excellence and flawless execution, where we had autonomy and room to maneuver but were also provided constant mentoring and leadership. I believe Talisman has the right ingredients for growth, I am proud to be part of the company and I look forward to continue building functional excellence for Talisman.”

Rizal S., Drilling Process Lead – Global Drilling & Completions, Eagle Ford, Texas


“I have been empowered with the right level of challenges and opportunities for my career and personal growth. Talisman is a vibrant and growing organization, and it seems to always be a step ahead of me with career development opportunities.”

Nathan H., Team Lead, Chauvin & Shaunavon - North American Operations, Calgary, Canada

 


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Talisman Student Clan - Summer 2014
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Talisman Energy Reviews

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Talisman Energy President & CEO Hal Kvisle
Hal Kvisle
38 Ratings
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    Good Company to work for but be patient

    • Comp & Benefits
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    Current Employee - Anonymous Employee in Calgary, AB (Canada)
    Current Employee - Anonymous Employee in Calgary, AB (Canada)

    I have been working at Talisman Energy

    Pros

    Good compensation
    Good work / life balance
    Good people
    Good reputation

    Cons

    It takes a long time to get things done, no sense of urgency
    No global policies or governance

    Advice to ManagementAdvice

    Put in policies and goverance to help shape employee behaviour
    Hold people accountable to timelines.

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Talisman Energy Interviews

Updated Jan 4, 2015
Updated Jan 4, 2015

Interview Experience

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    Supply Chain Analyst I Interview

    Anonymous Employee in Houston, TX
    Anonymous Employee in Houston, TX
    Application Details

    I applied through a staffing agency – interviewed at Talisman Energy in August 2014.

    Interview Details

    They contact you first and not through the agency. Interview board, they decide and let the interviewee know soon after they have made their decision. Best of luck.

    Interview Questions
    • What type of oil and gas experience do you have?   View Answer
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Talisman Energy Awards & Accolades

Something missing? Add an award
Responsible Canadian Energy Award (Health and Safety), Canadian Association of Petroleum Producers, 2014
50 Best Corporate Citizens in Canada (#17), Corporate Knights: The Company for Clean Capitalism, 2013
Canada’s Top 50 Socially Responsible Companies (Best in Class - Oil & Gas Exploration and Production, Power Generators), Maclean's Magazine, 2013
Barron's 500, Barron's, 2009
Barron's 500, Barron's, 2008
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Additional Info

Website www.talisman-energy.com
Headquarters Calgary, Canada
Size 1000 to 5000 Employees
Founded 1992
Type Company - Public (TLM)
Industry Oil, Gas, Energy & Utilities
Revenue $5 to $10 billion (USD) per year

Talisman Energy Inc. is a global upstream oil and gas company, headquartered in Canada. Talisman has two main operating areas: the Americas (North America and Colombia), and Asia-Pacific. Talisman is committed to conducting business safely, in a socially and environmentally responsible manner, and is included in the Dow Jones Sustainability (North America) Index. The company is also a participant in the United Nations Global Compact and was the first Canadian company to join the Voluntary Principles on Security and Human Rights Plenary Group developed by the United States... More

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