Nexen Sells Canadian Heavy Oil Properties
Investing News Network - May 20th, 2010
Nexen Inc. reported that it has agreed to sell its heavy oil properties in Western Canada to Northern Blizzard Resources Inc. for approximately $975 million.
Nexen Inc. reported that it has agreed to sell its heavy oil properties in Western Canada to Northern Blizzard Resources Inc. for approximately $975 million.
The press release is quoted as saying:
Nexen Inc. is an independent, Canadian-based global energy company, listed on the Toronto and New York stock exchanges under the symbol NXY. We are focused on three growth strategies: oil sands and unconventional gas in Western Canada and conventional exploration and development primarily in the North Sea, offshore West Africa and deep-water Gulf of Mexico.