Top Chinese offshore oil and gas producer CNOOC Ltd said it plans to boost spending to produce up to 2 percent more of the fuels in 2013, below a five-year average growth target.The state-run giant has forecast 6 percent to 10 percent compound annual output growth in 2011-2015, partly by focusing on unconventional resources, like oil sands and shale gas."The company is confident to achieve its production growth target of 2011-2015," CNOOC, which is acquiring Canadian energy company Nexen Inc for $15.1 billion in China's largest ever overseas takeover, said in a filing with the Hong Kong bourse on Wednesday.CNOOC has said the acquisition of Nexen would boost its production by 20 percent and proven reserves by 30 percent. CNOOC has nine years of reserves based on current production, one of the lowest ratios among major oil companies worldwide.
CNOOC Limited is an investment holding company. The Company, along with its subsidiaries, is a producer of offshore crude oil and natural gas and an independent oil and gas exploration and production company. Shares of CEO remained unchanged at $209.07. In the past year, the shares have traded as low as $171.58 and as high as $234.00. On average, 80466 shares of CEO exchange hands on a given day and today's volume is recorded at 0.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY remained unchanged at $26.89. In the past year, the shares have traded as low as $14.63 and as high as $27.06. On average, 9477340 shares of NXY exchange hands on a given day and today's volume is recorded at 0.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY fell by 0.15% or $-0.04/share to $26.94. In the past year, the shares have traded as low as $15.18 and as high as $27.25. On average, 1145770 shares of NXY.TO exchange hands on a given day and today's volume is recorded at 855820.
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