oil & gas assets
You have accessed this news story:

Japanese firm buys into Nexen's B.C. shale gas assets

Partnership could also include an LNG terminal

Feed Icon
Nexen Inc. has reached an agreement to create a strategic partnership with a consortium led by Inpex Corp. of Japan for the development of Nexen's shale gas lands in the Horn River, Cordova and Liard basins in northeast British Columbia. Nexen will sell a 40% WI in the assets and will remain the operator. The deal reflects a tremendous interest in Canadian gas on the part of Japan, according to Nexen CEO Marvin Romanow. After the meltdown at the Fukushima nuclear plant in the wake of last sprin...
Provide your credentials to access this page

Member Area: Log in if you have a PLS web account or Sign up for internet access now.

PLS Web Client?
Log in to proceed

Sign up for PLS Reports
& Web Access!

Already subscribed to Reports?
Sign up for Web Access!

Other Stories about Nexen Inc

News Date
Chinese gas distributor takes out Baccalieu for $272 million
Reflecting the recent shift of Chinese and other foreign buyers toward Canadian light oil and gas rather than oil sands, China Oil & Gas Group Ltd. signed an arrangement agreement to acquire...
Jun 23, 2014
Yangchang picks up Novus in share buyout
Yanchang Petroleum International completed its acquisition of Novus Energy Inc. through Canadian sub Yanchang International that paid Novus shareholders $1.18 in cash for each common share owned,...
Jan 20, 2014
CNOOC depositary receipts begin trading on the TSX
Chinese firm CNOOC Ltd.'s American depository receipts have begun trading on the TSX under the symbol CNU. The company promised the listing last year as part of its efforts to win government approval...
Sep 18, 2013
Restriction on SOE stakes a wise move, study says
Although the federal government's new rules on takeovers by state-owned enterprises apparently put a damper on deal flow, a study by the University of Calgary's School of Public Policy indicates...
Jun 06, 2013
CNOOC not looking for new acquisitions in Nexen wake
CNOOC CEO Li Fanrong told reporters following the closing of its acquisition of Nexen Inc. that the company was not on the lookout for new acquisitions.Two weeks after securing US...
Mar 01, 2013
CNOOC closes $18 billion Nexen acquisition
Two weeks after securing US approval for its takeover of Calgary-based Nexen Inc., CNOOC Ltd. closed the deal February 25 by paying $15.1 billion cash for Nexen's common and preferred shares....
Feb 26, 2013
CNOOC to fuel development with up to 52% capex hike
Chinese state-owned CNOOC plans to boost capex in 2013 to US$12-14 billion, up to 52% higher than the $9.2 billion it estimates was spent last year, with investments to focus on developing...
Jan 30, 2013
Exxon's $3.1 billion Celtic buy gets Canadian clearance
The Canadian government approved ExxonMobil's $3.14 billion purchase of Celtic Exploration, declaring the deal a "net benefit" to the country and allowing the two companies to complete the...
Jan 30, 2013
Suncor's oil sands output rises 23% in December
Suncor Energy Inc. said its oil sands production averaged 385,000 bpd in December, up 23% from November. Year-to-date production averaged 324,000 bpd. Suncor's oil sands production numbers do not...
Jan 03, 2013
Chinese, Asian NOCs spend at a record pace in 2012
Chinese and Asian NOCs' buying of oil and gas upstream assets continued unabated and reached a record $49.3 billion in 2012, according to PLS/Derrick Global M&A database. This is up 109% from the...
Dec 31, 2012
Ottawa approves Nexen & Progress takeovers
The Canadian government has granted its approval to Chinese state oil company CNOOC's $17.9 billion purchase of Nexen Inc. as well as Malaysian NOC Petronas' $5.8 billion takeover of Progress Energy...
Dec 13, 2012
People Briefs - May 09, 2014
• Azabache Energy has appointed Marc Bouchard as CFO following the resignation of Mark Hopkins, who has taken the same position with SB Navitas Tubular. Bouchard has previously held both public and...
May 09, 2014
People Briefs - May 01, 2014
• Petra Petroleum Inc. appointed Pete Hughes as VP of corporate development. Hughes has over 40 years of international petroleum industry experience including 18 year in a variety of senior...
May 01, 2014
Production Briefs - February 8, 2013
• Alexander Energy exited 2012 at 5.6 MMcfed (52% gas), up 30% vs. Q3 production and up 43% vs. the 3.9 MMcfed the company produced in 4Q11. The Energy Resources and Conservation Board has approved...
Feb 08, 2013
Production Briefs 12/19/2012
• Alexander Energy Ltd., formerly Petro-Reef Resources Ltd., recorded production of 712 boepd (61% oil and NGLs) in Q3, up 9% sequentially and up 11% YOY. Liquids weighting has increased from 31%...
Dec 19, 2012

Search For More News
oil & gas properties for sale