CALGARY, Alberta, April 17 (Reuters) - Swiss trading firm Trafigura will buy Nexen Energy's third-party oil lease business in Western Canada, Trafigura said on Friday, but did not disclose the...
CALGARY, Alberta, April 17 (Reuters) - Swiss trading firm Trafigura will buy Nexen Energy's third-party oil lease business in Western Canada, Trafigura said on Friday but did not disclose the...
market, reducing costs remains essential to any positive earnings revisions going forward. With its ill-timed acquisition of Nexen , a high-cost Canadian oil sands producer purchased in 2013, we expect CNOOC to focus aggressively on cutting overhead expenses
States, our expectation of rig activity, and our projection of future gas consumption. While CNOOC's ill time purchase of Nexen will result in costly asset writedowns in the near term, its long-run prospects remain bright as it has a monopoly over China
Pharmaceuticals ANPI ANP $5.58 Fairfax Financial Holdings FFH FFH $180.00 Compton Petroleum CMZ CMT $9.69 Nexen NXY NXY $26.19 Talisman Energy TLM TLM $16.37 Enbridge ENB ENB $32.38
three structural trends that underpin CNOOC's future operating strategy. First, because of the pricey 2013 acquisition of Nexen (a higher-cost Canadian oil sands producer), the company's asset quality, debt servicing capacity, and liquidity have
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
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
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
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