Deals - Acquisition, Mergers, Divestitures
Nexen Inc Forms Horn River JV With Japan's INPEX
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Nexen Inc. announced that it has reached agreement to create a strategic partnership with a consortium led by INPEX CORPORATION of Japan regarding the development of our shale gas lands in the Horn River, Cordova and Liard basins in northeast BC. Nexen will sell a 40% working interest in its northeast BC assets and will remain the operator.
"This joint venture represents a significant milestone in the advancement of our shale gas strategy and the premium over our invested cost shows the value we have created in a short time," said Marvin Romanow, Nexen's President and Chief Executive Officer. "The transaction provides us with world-class partners that have significant upstream and LNG expertise. It also recognizes the outstanding team we have put in place and the execution excellence they…
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