QUOTE AND NEWS
Wall Street Journal  Jul 12  Comment 
Cnooc’s Canadian subsidiary said it would idle a troubled oil-sands facility following two accidents at the site, a move that will result in the loss of 350 jobs.
CANOE.ca  Jul 12  Comment 
Nexen Energy is placing some of the blame for a fatal January explosion on the two workers who died in the blast, something at least one of the families has called a "disgrace."
OilVoice  Apr 21  Comment 
Wood Group has been awarded a five year contract by Nexen valued at 150 million. Extending a contract in place since April 2010 Wood Group PSN WGPSN will continue to deliver operations maintenan
CANOE.ca  Mar 1  Comment 
Another 120 employees have been laid off by Nexen Energy ULC, a Calgary-based subsidiary of Chinese state-owned entity CNOOC Ltd.
Wall Street Journal  Jan 19  Comment 
Canadian officials said Monday they are trying to determine the cause of an explosion that left one worker dead at an oil sands plant in Northern Alberta owned by Chinese energy giant Cnooc Ltd.
OilVoice  Jan 18  Comment 
Nexen Energy ULC Nexen is responding to an incident at its Long Lake oil sands facility south of Fort McMurray In the afternoon of Friday January 15 an explosion occurred at Nexens Long Lake f
Wall Street Journal  Jan 16  Comment 
Canadian energy firm Nexen Energy said one person was killed and another injured following an explosion at its Long Lake oil-sands facility in Alberta.
Reuters  Sep 8  Comment 
Alberta's energy regulator said late on Sunday it will allow Nexen Energy, the Canadian subsidiary of China's CNOOC Ltd, to reopen some pipelines ordered closed following a major spill.




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Calgary, Alberta-based Nexen Inc. (NXY) is a major Canadian oil and gas company with exploration and production operations in Canada, the U.S. Gulf of Mexico, North Sea (U.K.), Yemen, Nigeria, and other areas. In addition to conventional oil and gas E&P operations, the company owns a 7.23% interest in the Syncrude joint venture in Northern Alberta, which develops and produces synthetic crude oil. Nexen monetized its chemical assets in 2005 through the creation and IPO of an income trust (Canexus Income Fund), in which the company still has a 61% stake. Nexen's chemical assets included the manufacturing and distribution of industrial chemicals, such as sodium chlorate and chlor-alkali products.

As of year-end 2006, Nexen had approximately 1,281 million oil-equivalent barrels (MMBOE) in proved plus probable (2P) oil and gas reserves (including bitumen), approximately 57% of which were in the proved category. Convention oil and gas reserves stood at 479 MMBOE at the end of the year, of which approximately 25% was located in Canada. The major areas where the rest of its conventional proved reserves are located include the U.K. North Sea (38% of the total), the U.S. (15%), and Yemen (14%). Nexen also had approximately 246 million barrels of bitumen reserves in its oil sands operations.

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