Canada's sixth-largest oil producer Nexen Inc said it would sell a 40 percent stake in its northeast British Columbia assets for C$700 million ($678.7 million) to help develop its gas-rich lands in the region.Nexen, which is selling the interest to a consortium led by Japan's Inpex Corp, forecast 2012 output of 185,000-220,000 barrels of oil equivalent per day (boe/d) before royalties. It has projected production of 200,000-215,000 boe/d this year.A potential fall in production next year is primarily a result of the company exiting Yemen, where it failed to renegotiate its contract.However, Nexen's share of output from the Total SA -operated Usan offshore project in West Africa could help compensate for the production losses from Yemen. Usan is expected to begin production in the first half of 2012.
Nexen Inc. (Nexen) is an independent, Canada-based global energy company. Shares of NXY traded higher by 5.76% or $0.88/share to $16.15. In the past year, the shares have traded as low as $14.75 and as high as $27.11. On average, 1548740 shares of NXY.TO exchange hands on a given day and today's volume is recorded at 1002367.
Nexen Inc. (Nexen) is an independent, Canada-based global energy company. Shares of NXY traded higher by 6.03% or $0.89/share to $15.66. In the past year, the shares have traded as low as $13.88 and as high as $27.94. On average, 3357910 shares of NXY exchange hands on a given day and today's volume is recorded at 1435724.
TOTAL SA is a France-based integrated international oil and gas company. Shares of TOT traded higher by 1.16% or $0.57/share to $49.61. In the past year, the shares have traded as low as $40.00 and as high as $64.44. On average, 5671140 shares of TOT exchange hands on a given day and today's volume is recorded at 1976751.
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