2 May 2007securities registration● Neutral
NEXEN INC filed a free-writing prospectus - marketing material for an offering in progress.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 May 2007securities registration● Neutral
NEXEN INC filed a free-writing prospectus - marketing material for an offering in progress.
1 May 2007securities registration● Neutral
NEXEN INC filed a prospectus supplement.
13 Feb 2007substantial holder notice● Neutral
JARISLOWSKY, FRASER LIMITED disclosed a new substantial NEXEN INC shareholding (11.19% of votes).
12 Feb 2007substantial holder notice● Neutral
Capital Research and Management Company reported a NEXEN INC shareholding of 13,697,880 shares (5.20% of votes) in a periodic institutional filing.
20 July 2006material agreement● Neutral
Nexen amended its July 2005 credit agreement, raising the facilities from US$2 billion to US$3 billion and extending maturity from July 22, 2010 to July 22, 2011. It also signed a standard director indemnification agreement with director A. Anne McLellan.
10 Feb 2006substantial holder notice● Neutral
JARISLOWSKY, FRASER LIMITED disclosed a new substantial NEXEN INC shareholding (13.86% of votes).
10 Feb 2006substantial holder notice● Neutral
Capital Research and Management Company reported a NEXEN INC shareholding of 14,206,170 shares (5.40% of votes) in a periodic institutional filing.
23 Sept 2005substantial holder notice● Neutral
Ontario Teachers' Pension Plan Board reported a NEXEN INC shareholding of 31,088,836 shares (11.90% of votes) in a periodic institutional filing.
25 Aug 2005material agreement● Neutral
Nexen paid cash bonuses to employees for completing the sale of oil and gas properties in northeast British Columbia, the Alberta foothills and Saskatchewan, and the Canexus chemicals spin-off. Executive amounts: CEO Charles Fischer 300,000, CFO Marvin Romanow 175,000, General Counsel John McWilliams 100,000 and Roger Thomas 200,000 (currency not stated in the filing).
23 Aug 2005asset acquisition disposition● NeutralMajor
Nexen completed the sale of its sodium chlorate and chlor-alkali chemicals business to Canexus Limited Partnership, valued at about $1 billion. Canexus Income Fund's IPO raised $300 million (30 million units at $10), and Nexen kept a 63.5% interest through 52,285,714 exchangeable units. Nexen says it has not decided whether or when to sell its holding.
28 July 2005debt financing● NeutralMajor
Nexen signed a new unsecured revolving credit agreement of up to US$2 billion, maturing July 22, 2010, with Toronto-Dominion as lead agent. An initial US$780 million draw repaid all debt under three earlier credit agreements, which were cancelled. It carries a covenant limiting long-term debt to 3.5 times EBITDA.
11 Mar 2005debt financing● NeutralMajor
Nexen closed a sale of US$250 million of 5.20% notes due 2015 and US$790 million of 5.875% notes due 2035 (about US$1.04 billion in total), issued under its existing shelf registration. The filing does not say what the money is for; the amount fits the bridge borrowing for the North Sea purchase, but that is an inference.
8 Mar 2005securities registration● Neutral
NEXEN INC filed a prospectus supplement.
14 Feb 2005substantial holder notice● Neutral
Capital Research and Management Company reported a NEXEN INC shareholding of 9,326,080 shares (7.20% of votes) in a periodic institutional filing.
11 Feb 2005substantial holder notice● Neutral
JARISLOWSKY, FRASER LIMITED disclosed a new substantial NEXEN INC shareholding (16.38% of votes).
7 Dec 2004asset acquisition disposition● NeutralMajor
Nexen completed the purchase of EnCana (U.K.) Limited for US$2.1 billion plus adjustments, as agreed in October 2004. It was funded partly by a Toronto-Dominion credit agreement: a US$1.5 billion bridge loan drawn December 1, 2004 (to be cut to US$750 million by November 25, 2005 and repaid by May 25, 2007) and a US$500 million development facility (due November 2007, extendable to May 2008). This closes the acquisition thread and the debt now has to be repaid.
3 Nov 2004material agreement▲ GoodMajor
Nexen agreed to buy EnCana (U.K.) Limited, EnCana's North Sea business, for US$2.1 billion cash, with closing scheduled for December 1, 2004. It includes a 43.2% interest in the Buzzard field (start-up expected by end of 2006, about 80,000 barrels a day net to Nexen at full production, per Nexen), plus interests in the Scott and Telford fields producing about 19,000 boe/d. Nexen arranged US$2.0 billion of bridge facilities with Toronto-Dominion Bank and expects to repay the debt from cash flow and about Cdn$1.5 billion of proceeds from selling mature assets. Closing needs UK government approval, and Nexen put up a US$200 million deposit.
15 July 2004other▲ Good
Second-quarter results: cash flow of $3.32 a share and earnings of $1.11 a share on high commodity prices, though production slipped to 240 thousand barrels equivalent a day from 280 a year earlier. The growth story was elsewhere - the Aspen field in Yemen reached about 30,000 barrels a day, Block 51 development started, and the Long Lake oil sands upgrader was reported on schedule and on budget.
23 Feb 2004listing compliance notice▼ BadMajor
NEXEN INC's securities were notified for removal from listing and registration on its exchange.
13 Feb 2004substantial holder notice● Neutral
Capital Research and Management Company reported a NEXEN INC shareholding of 7,080,010 shares (5.70% of votes) in a periodic institutional filing.
9 Feb 2004substantial holder notice● Neutral
JARISLOWSKY, FRASER LIMITED disclosed a new substantial NEXEN INC shareholding (17.33% of votes).
18 Dec 2003listing compliance notice▼ BadMajor
NEXEN INC's securities were notified for removal from listing and registration on its exchange.
18 Nov 2003securities registration● Neutral
NEXEN INC filed a prospectus supplement.
29 Oct 2003securities registration● Neutral
NEXEN INC filed a prospectus supplement.
29 Oct 2003listing compliance notice▲ GoodMajor
the New York Stock Exchange certified NEXEN INC's securities for listing, clearing them to begin trading.
27 Oct 2003securities registration● Neutral
NEXEN INC filed a prospectus supplement.
13 Feb 2003substantial holder notice● Neutral
Capital Research and Management Company disclosed a new substantial NEXEN INC shareholding (7.40% of votes).
6 Feb 2003substantial holder notice● Neutral
JARISLOWSKY, FRASER LIMITED disclosed a new substantial NEXEN INC shareholding (16.09% of votes).
17 July 2002auditor change● Neutral
A paper-only Form 8-K filed under the auditor-change item. The electronic record contains only a placeholder with a document control number and no text, so nothing about an auditor change (who, when, why) can be read from it.