Topic: How To Invest

Pat: Can I have your opinion on Nexen? I hold it in my portfolio. Thanks.

Article Excerpt

Nexen Inc., $27.32, symbol NXY on Toronto (Shares outstanding: 520.8 million; Market cap: $14.2 billion), is a large Calgary-based oil and gas producer. Nexen has interests in the North Sea, the Gulf of Mexico, North America (including the Alberta oil sands), Yemen and off the Nigerian coast. Nexen produces about 252,000 barrels of oil equivalent per day (this measurement includes natural gas). The North Sea accounts for 43% of this, followed by North America (34%, which includes 8% from the Syncrude joint venture in Alberta), Yemen (21%) and other countries (2%). Crude oil accounts for 85% of its production. The company operates in four segments. Conventional oil and gas production, which supplied 83% of its 2008 revenue, is the largest, followed by Syncrude (9%), chemicals (7%) and energy marketing (1%). The chemicals segment makes its products through the Canexus Limited Partnership. Energy marketing includes Nexen’s crude oil, natural gas, natural-gas liquids, ethanol and power-marketing business. Nexen’s Alberta interests include 7.2% of the…

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