Nexen may sell gas, power marketing organisations
CALGARY, Alberta, July 23 - Nexen Inc (NXY.TO) might offer its natural gas and power advertising devices as part of a tactical review targeted at more minimizing the financial danger in its total operations, it stated on Thursday.
Nexen, Canada's No. 4 independent oil explorer, said it worked with a consultant to aid it determine what to do with those organisations, which have actually been realigned to decrease the speculative trading that had created volatility in its monetary results.
" We attended to that in the back part of in 2014 and into this year, so a lot of the danger is gone as well as lags us," Nexen Vice-President Michael Harris claimed.
" Now we take a look at it and also say: Where do we wish to opt for this?"
Nexen's production is weighted 85 percent to petroleum as well as the rest to gas, yet its marketing activities have been opposite to that, Harris stated.
He claimed the business does not have a suggestion of value for the systems yet or an indicator of third-party interest.
" This is Day 1. We'll have to go through the process and see what appears of the strategic testimonial," Harris stated.
According to natural copper chelating agents , its gas advertising organisation its one of the leading 10 in The United States and Canada, trading more than 6 billion cubic feet a day. It additionally takes care of more than 50 billion cubic feet of gas storage space capacity.
The power organisation is responsible for Nexen's 50 percent risk in a 120 megawatt creating station in Balzac, Alberta, as well as its half rate of interest in the 70 MW Soderglen, Alberta, wind ranch. It performs wholesale as well as retail operations in Alberta and also is broadening in North America as well as Europe.
Chief Executive Marvin Romanow said in a declaration that Nexen has no strategies to give up its capability to market its growing petroleum and also shale gas manufacturing as component of the strategic testimonial.
Nexen shares closed 51 Canadian cents, or 2 percent, at C$ 22.36 on the Toronto Stock Exchange. It introduced the critical evaluation after the marketplace closed.
($ 1=$ 1.09 Canadian).
Nexen, Canada's No. 4 independent oil explorer, said it worked with a consultant to aid it determine what to do with those organisations, which have actually been realigned to decrease the speculative trading that had created volatility in its monetary results.
" We attended to that in the back part of in 2014 and into this year, so a lot of the danger is gone as well as lags us," Nexen Vice-President Michael Harris claimed.
" Now we take a look at it and also say: Where do we wish to opt for this?"
Nexen's production is weighted 85 percent to petroleum as well as the rest to gas, yet its marketing activities have been opposite to that, Harris stated.
He claimed the business does not have a suggestion of value for the systems yet or an indicator of third-party interest.
" This is Day 1. We'll have to go through the process and see what appears of the strategic testimonial," Harris stated.
According to natural copper chelating agents , its gas advertising organisation its one of the leading 10 in The United States and Canada, trading more than 6 billion cubic feet a day. It additionally takes care of more than 50 billion cubic feet of gas storage space capacity.
The power organisation is responsible for Nexen's 50 percent risk in a 120 megawatt creating station in Balzac, Alberta, as well as its half rate of interest in the 70 MW Soderglen, Alberta, wind ranch. It performs wholesale as well as retail operations in Alberta and also is broadening in North America as well as Europe.
Chief Executive Marvin Romanow said in a declaration that Nexen has no strategies to give up its capability to market its growing petroleum and also shale gas manufacturing as component of the strategic testimonial.
Nexen shares closed 51 Canadian cents, or 2 percent, at C$ 22.36 on the Toronto Stock Exchange. It introduced the critical evaluation after the marketplace closed.
($ 1=$ 1.09 Canadian).
