Nexen NXY

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    1. CNOOC's 1H Results a Mixed Bag, But Overall Oil and Gas Production Tracking Ahead of Guidance

      Commentary

      Fri, 29 Aug 2014

      progress at the overseas operations, where its Canadian unit Nexen is on track to deliver midteen production growth compared with ..... Because incremental oil and gas production will come from Nexen and other overseas operations, where production costs are higher

    2. Canadian and European Assets Shined While CNOOC's Domestic Output Struggled to Growth in 1Q

      Commentary

      Mon, 28 Apr 2014

      earnings, which showed 6.9% and 15.5% year-over-year increases in revenue and net oil and gas production, respectively. Nexen ’s Canadian and European assets contributed the majority of growth in the first quarter as CNOOC’s domestic production

    3. Higher Cost and Lower Bohai Production Dragged on CNOOC's 2013 Earnings

      Commentary

      Thu, 3 Apr 2014

      operational improvement. Our fair value estimate is unchanged. The Nexen acquisition largely disported CNOOC’s 327% reserve replacement ratio in 2013. Nevertheless, if we remove the effect of Nexen , CNOOC’s pace of replacing reserves slowed to 119% in

    4. CNOOC Reports Disappointing 2014 Production Guidance, but Long-Term Growth Profile Remains Unchanged

      Commentary

      Tue, 21 Jan 2014

      the company would miss its average annual growth target of 6%-10% for 2011-2015. Excluding production contribution from Nexen (2012 acquisition), management expects production to fall between 338 million and 348 million BOE in 2014, a mere 4.3

    5. CNOOC's Operational Results for Q3 Are of Limited Usefulness to Investors

      Commentary

      Fri, 25 Oct 2013

      Thursday. Production was up 18% year over year, including the impact of the Nexen acquisition. Without Nexen , however, production volumes were flat. Digging back into Nexen 's third-quarter filing from 2012, production was also flat for the

    6. China's Crude Conundrum

      Headlines

      Fri, 2 Aug 2013

      China, formed joint venture development partnerships with Encana, Devon, and Chesapeake in North America, and purchased Nexen . Considering this access to so many partners with unconventional experience and operating in an industry where we have yet

    7. As Energy Demand Outpaces Supply, Asia Looks Overseas to Refuel

      Headlines

      Wed, 22 May 2013

      acquisition of the Canadian exploration and production firm Nexen , received heightened public and regulatory scrutiny. But this ..... and Development (OECD) countries. For example, CNOOC’s Nexen transaction increased the OECD share of its international reserves

    8. CNOOC Ltd. Reports 2012 Results; Keeping an Eye on Capital Spending Post-2013

      Commentary

      Mon, 25 Mar 2013

      2012 results in line with our expectations, and confirmed our take on 2013 as a no-growth year (excluding the impact of the Nexen acquisition). The company did disclose that more than 30 new projects will reach first oil by 2015, although there were no

    9. Uncovering an E&P Gem

      Headlines

      Wed, 6 Mar 2013

      acquisition of PetroHawk, Exxon Mobil's acquisitions of XTO Energy and more recently Celtic Energy, and CNOOC Ltd.'s bid for Nexen Energy (while not a build-to-sell, still a long-term investment). Tourmaline's size is a positive factor as well

    10. U.S. Approves CNOOC's Acquisition of Nexen ; Transaction to Close by Month-End

      Commentary

      Tue, 12 Feb 2013

      Nexen Energy NXY announced Tuesday that the Committee on ..... moat rating. Our fair value estimate for Nexen sits at $27 per share, in such close ..... 50 that we will not make adjustments. Nexen 's moat rating will remain at none.

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