Nexen Inc, whose $15.1 billion takeover by China's CNOOC Ltd is set to close this week, reported a fourth-quarter net loss on Monday as expectations for extended weakness in the North American natural gas market led to a multimillion-dollar asset impairment charge.CNOOC's takeover of Nexen gives it a portfolio of oil sands assets in Canada and other energy holdings around the world. The deal forced Ottawa to develop policies to balance increased investment by foreign state-owned companies with the desire to keep control of strategic oil sands reserves in Canada.In the fourth quarter, Nexen lost C$6 million ($5.9 million), or 2 Canadian cents a share, compared with a year-earlier profit of C$43 million, or 8 Canadian cents a share.The Calgary-based company said a combination of lower estimated future gas prices and revisions to oilfield abandonment costs prompted a C$237 million non-cash impairment charge.
Shares of CEO fell by 0.69% or $-1.36/share to $196.97. In the past year, the shares have traded as low as $171.58 and as high as $230.74. On average, 77642 shares of CEO exchange hands on a given day and today's volume is recorded at 67244.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY fell by 0.04% or $-0.01/share to $27.42. In the past year, the shares have traded as low as $14.63 and as high as $27.45. On average, 10587000 shares of NXY exchange hands on a given day and today's volume is recorded at 4580619.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY traded higher by 0.68% or $0.19/share to $28.16. In the past year, the shares have traded as low as $15.18 and as high as $28.13. On average, 1688040 shares of NXY.TO exchange hands on a given day and today's volume is recorded at 904475.
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