Analysts' Recommendation: Buy 30 Days Ago: Buy Analysts' Target: $40 Analysts' Targets RBC Capital Markets $41 Sector Perform Wednesday, April 30, 2008 Friedman, Billings, Ramsey & C $39 Tuesday, April 15, 2008 Nexen, Inc. operates as an independent energy company. It has four segments: Oil and Gas, Syncrude, Energy Marketing, and Chemicals. The Oil and Gas segment explores, develops, and produces crude oil, natural gas, and related products. It has interests in the Buzzard field, Scott and Telford field, and the Ettrick fields, as well as in the Black Horse, Bugle, Dolphin, Golden Eagle, Kildare, Perth, Polecat, Selkirk, and Yeoman Fields located in the North Sea, the United Kingdom. This segment also owns interests in well properties, including Longhorn, Tobago, Knotty Head, Vicksburg, South Marsh Island 257, and Mississippi Canyon 72, which are located in Gulf of Mexico; Aspen field, Gunnison field, and offshore Louisiana in the United States; heavy oil production in east-central Alberta and west-central Saskatchewan, and natural gas near Calgary and in southern Alberta and Saskatchewan, including Athabasca Oil Sands and Long Lake Projects; Masila Block and East Al Hajr Block located in Middle East–Yemen; and Boqueron Block–Guando, Colombia, as well as 6 licenses covering 9 blocks located in Norway. The Syncrude segment includes the company’s 7.23% participating interest in Syncrude Canada, Ltd. that develops and produces synthetic crude oil from mining bitumen in the oil sands in northern Alberta. The Energy Marketing segment sells proprietary and third-party natural gas, crude oil, natural gas liquids, ethanol, and power in various regional markets. The Chemicals segment manufactures sodium chlorate and chlor-alkali products in Canada and Brazil. The company was founded in 1971. It was formerly known as Canadian Occidental Petroleum, Ltd. and changed its name to Nexen, Inc. The company is based in Calgary, Canada.
$36.1 (07/12/08)
