Nexen Inc. (NXY, Financial) filed Quarterly Report for the period ended 2009-09-30.
Nexen Inc. is an independent Canadian-based global energy company. They are uniquely positioned for growth in the North Sea Western Canada including the Athabasca oil sands of Alberta and unconventional gas resource plays such as coalbed methane and shale gas deep-water Gulf of Mexico offshore West Africa and the Middle East. They add value for shareholders through successful full-cycle oil and gas exploration and development and leadership in ethics integrity governance and environmental protection. Nexen Inc. has a market cap of $11.35 billion; its shares were traded at around $21.78 with a P/E ratio of 29.8 and P/S ratio of 1.6. The dividend yield of Nexen Inc. stocks is 0.8%. Nexen Inc. had an annual average earning growth of 15.4% over the past 10 years. GuruFocus rated Nexen Inc. the business predictability rank of 5-star.
reported by the Bank of Canada.
PROPERTY, PLANT AND EQUIPMENT
Net of Accumulated Depreciation, Depletion, Amortization and
Impairment of $10,452 (December 31, 2008 - $10,393) 15,642 14,922
GOODWILL 346 390
FUTURE INCOME TAX ASSETS 916 351
DEFERRED CHARGES AND OTHER ASSETS (Note 5) 386 570
-
TOTAL ASSETS 23,069 22,155
=
CASH AND CASH EQUIVALENTS - END OF PERIOD (1) 1,897 1,772 1,897 1,772
=
(1) Cash and cash equivalents at September 30, 2009 consist of cash of $376
million and short-term investments of $1,521 million (September 30, 2008 -
cash of $26 million and short-term investments of $1,746 million).
(1) Net of income tax expense for the three months ended September 30, 2009 of
$55 million (2008 - $26 million recovery) and net of income tax expense for
the nine months ended September 30, 2009 of $93 million (2008 - $45 million
recovery).
As at September 30, 2009, we have exploratory costs that have been capitalized
for more than one year relating to our interests in six exploratory blocks in
the North Sea ($178 million), certain coalbed methane and shale gas exploratory
activities in Canada ($120 million), two exploratory blocks in the Gulf of
Mexico ($112 million), and our interest in an exploratory block offshore Nigeria
($19 million). These costs relate to projects with successful exploration wells
for which we have not been able to recognize proved reserves. We are assessing
all of these wells and projects, and are working with our partners to prepare
development plans, drill additional appraisal wells or to assess commercial
viability.
We carry our long-term debt at amortized cost using the effective interest rate
method. At September 30, 2009, the estimated fair value of our long-term debt
was $7,531 million (December 31, 2008 - $5,686 million) as compared to the
carrying value of $7,429 million (December 31, 2008 - $6,578 million). The fair
value of long-term debt is estimated based on prices provided by quoted markets
and third-party brokers.
Read the The complete Report
Nexen Inc. is an independent Canadian-based global energy company. They are uniquely positioned for growth in the North Sea Western Canada including the Athabasca oil sands of Alberta and unconventional gas resource plays such as coalbed methane and shale gas deep-water Gulf of Mexico offshore West Africa and the Middle East. They add value for shareholders through successful full-cycle oil and gas exploration and development and leadership in ethics integrity governance and environmental protection. Nexen Inc. has a market cap of $11.35 billion; its shares were traded at around $21.78 with a P/E ratio of 29.8 and P/S ratio of 1.6. The dividend yield of Nexen Inc. stocks is 0.8%. Nexen Inc. had an annual average earning growth of 15.4% over the past 10 years. GuruFocus rated Nexen Inc. the business predictability rank of 5-star.
Highlight of Business Operations:
On September 30, 2009, the noon-day exchange rate was US$0.9327 for Cdn$1.00, asreported by the Bank of Canada.
PROPERTY, PLANT AND EQUIPMENT
Net of Accumulated Depreciation, Depletion, Amortization and
Impairment of $10,452 (December 31, 2008 - $10,393) 15,642 14,922
GOODWILL 346 390
FUTURE INCOME TAX ASSETS 916 351
DEFERRED CHARGES AND OTHER ASSETS (Note 5) 386 570
-
TOTAL ASSETS 23,069 22,155
=
CASH AND CASH EQUIVALENTS - END OF PERIOD (1) 1,897 1,772 1,897 1,772
=
(1) Cash and cash equivalents at September 30, 2009 consist of cash of $376
million and short-term investments of $1,521 million (September 30, 2008 -
cash of $26 million and short-term investments of $1,746 million).
(1) Net of income tax expense for the three months ended September 30, 2009 of
$55 million (2008 - $26 million recovery) and net of income tax expense for
the nine months ended September 30, 2009 of $93 million (2008 - $45 million
recovery).
As at September 30, 2009, we have exploratory costs that have been capitalized
for more than one year relating to our interests in six exploratory blocks in
the North Sea ($178 million), certain coalbed methane and shale gas exploratory
activities in Canada ($120 million), two exploratory blocks in the Gulf of
Mexico ($112 million), and our interest in an exploratory block offshore Nigeria
($19 million). These costs relate to projects with successful exploration wells
for which we have not been able to recognize proved reserves. We are assessing
all of these wells and projects, and are working with our partners to prepare
development plans, drill additional appraisal wells or to assess commercial
viability.
We carry our long-term debt at amortized cost using the effective interest rate
method. At September 30, 2009, the estimated fair value of our long-term debt
was $7,531 million (December 31, 2008 - $5,686 million) as compared to the
carrying value of $7,429 million (December 31, 2008 - $6,578 million). The fair
value of long-term debt is estimated based on prices provided by quoted markets
and third-party brokers.
Read the The complete Report
