• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Nexen posts loss of $6M in the fourth quarter; revenue slips to $1.58B

February 25, 20138:08 AM BOE Report Staff

NexenCP

 

CALGARY – Nexen Inc. (TSX:NXY.TO), the Calgary-based oil and gas producer being taken over by a state-owned Chinese company, says it sank into the red in the fourth quarter.

Nexen, citing impairment charges on natural gas properties in the U.S. and Canada and costs associated with its Long Lake oilsands project, says its net loss in the three months ended in December was $6 million or two cents per diluted share.

That was a big reversal from last year’s fourth-quarter profit of $43 million or eight cents per share.

Net sales from continuing operations were $1.58 billion, down from $1.66 billion in the same 2011 period.

For the year as a whole, Nexen said income dropped 52 per cent, which primarily reflected “the impact of higher share-based compensation expense as a result of the increase in our share price in part due to the proposed CNOOC Ltd. acquisition and to lower gains from asset dispositions.”

Last year, net income included pre-tax gains of $386 million from asset dispositions compared to $194 million in 2012.

The $15.1-billion acquisition by China National Offshore Oil Corp. is expected to be completed this week, Nexen said.

Nexen

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Freehold Royalties Ltd. announces 2020 results and increases 2021 dividend and production guidance
  • Seven Generations Energy announces conditional redemption of all of its 6.750% senior notes due 2023, 6.875% senior notes due 2023 and 5.375% senior notes due 2025
  • Line 5 ‘very different’ from Keystone XL, Canada will fight hard for it, says O’Regan
  • Yangarra announces 2020 year end financials, operating results and reserves
  • Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.