QUOTE AND NEWS
Upstream Online  Apr 10  Comment 
Norwegian vessel owner clinches medium-term deals with oil players after busy week of charters
Upstream Online  Mar 8  Comment 
Equipment supplier rakes in awards, contract extensions from players including Nexen
Insurance Journal  Dec 29  Comment 
Canada’s Alberta province has brought eight charges against Nexen Energy, a unit of China’s CNOOC Ltd., after two workers died in an explosion at its Long Lake oil sands plant in early 2016, an Alberta government spokeswoman said on Wednesday …
OilVoice  Mar 2  Comment 
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the prop ...
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.




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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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