Carl Icahn is expanding his holdings in the energy sector with the news that he is purchasing 61 million shares of Talisman Energy (TSX: TLM).

The stock surged in after-hours trading 10.9 percent on the news, which gives Icahn a 6 percent stake in the Calgary, Alberta, company and a possible seat on the board.  He told the U.S. Securities and Exchange Commission that he intends to discuss asset sales or restructuring with the company.

Talisman has already slashed 7 percent of its office staff and put several major holdings on the block, thanks to weak natural gas prices that have beset other Canadian firms.

The activist investor was behind the dismissal of Chesapeake Energy’s co-founder in 2012. In May, Transocean Ltd. shareholders voted out its chairman to back an Icahn appointee.