Yahoo Finance: A Look at Nexen Inc. (Now Part of CNOOC)

If you're searching Yahoo Finance for Nexen Inc. (NXY), you might notice that it's no longer trading as a standalone entity. This is because Nexen was acquired by the China National Offshore Oil Corporation (CNOOC) in a landmark deal completed in 2013. Therefore, any data you find on Yahoo Finance relates to its historical performance up to that point.

Prior to the acquisition, Nexen was a significant Canadian oil and gas company with a diverse portfolio of assets spanning conventional oil and gas, oil sands, and shale gas. Its operations were primarily focused in Canada, the United Kingdom (North Sea), and the United States, with exploration projects in other parts of the world.

Key Areas of Nexen's Business (Pre-Acquisition)

• Oil Sands: Nexen was a prominent player in the Canadian oil sands, holding significant leases and participating in major projects. This was a key driver of its valuation.
• North Sea: The company had a long-standing presence in the North Sea, with producing assets and exploration opportunities.
• Conventional Oil and Gas: Nexen also held conventional oil and gas assets in various locations.
• Shale Gas: The company was exploring and developing shale gas resources, primarily in North America.

Why the CNOOC Acquisition Was Significant

CNOOC's acquisition of Nexen was a major event in the global energy landscape. It marked a significant investment by a Chinese national oil company into the North American energy sector. The deal faced regulatory scrutiny in both Canada and the United States due to concerns about national security and the implications of foreign ownership of strategic energy assets.

The acquisition provided CNOOC with access to Nexen's established oil and gas reserves, technological expertise, and skilled workforce. For Nexen shareholders, the deal represented a significant premium over the company's pre-acquisition market value.

What You'll Find on Yahoo Finance (Historical Data)

If you search for Nexen on Yahoo Finance, you will likely find historical stock quotes, financial statements (income statements, balance sheets, cash flow statements), and key statistics such as price-to-earnings ratio (P/E), earnings per share (EPS), and dividend yield (if applicable). However, remember that this data is only relevant to the period before CNOOC took over.

You won't find any analyst ratings or current news related to Nexen on Yahoo Finance because it's no longer a publicly traded company. To get information about Nexen's current operations, you would need to research CNOOC's activities, particularly within its Canadian subsidiary (still often referred to as Nexen).

Conclusion

While Nexen Inc. is no longer an independent entity trading on stock exchanges, its history and former presence remain visible through archived data on platforms like Yahoo Finance. Understanding its pre-acquisition business and the significance of the CNOOC deal provides valuable context for anyone studying the evolution of the energy industry and the increasing globalization of resource ownership.