Nexen Who? Cnooc Goes After Recently Stumbling Global Player

“After CNOOC Ltd. said early Monday it had agreed to pay more than $15 billion for Canada’s Nexen Inc., many people—even in the oil industry—are asking: Who is Nexen?

In fact, the company is a relatively big fish in the ocean of mostly smaller oil plays active in Canada’s west. Calgary-based, the international oil and gas producer has operations in Western Canada, the Gulf of Mexico, the North Sea and in offshore West Africa. Nexen ranks ninth on the list of largest independent Canadian oil and gas producers by market cap, before the deal was announced.”

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