CNOOC Aktie [Valor: 1778506 / ISIN: HK0883013259]

10.12.2012 01:35:00

Nexen Inc. -- Moody's Nexen review continues; Canadian Govt approves CNOOC acquisition


Toronto, December 09, 2012 -- Moody's Investors Service's review for possible upgrade of Nexen Inc.'s Baa3 senior unsecured rating and Ba1 subordinated rating continues following the December 7th approval by The Government of Canada (GoC) of the acquisition of Nexen by CNOOC Limited (Aa3 stable). The review began on July 23, 2012.

For additional commentary, please refer to the associated issuer comment available on Moodys.com.

Please see ratings tab on the issuer/entity page on www.moodys.com for the last rating action and the rating history.

The principal methodology used in rating Nexen Inc. was the Global Independent Exploration and Production Industry methodology published in December 2011. Please see the Credit Policy page on www.moodys.com for a copy of this methodology.

Nexen Inc. is a Calgary, Alberta based oil & gas exploration and production company, which had 900 million barrels of oil equivalent net proved reserves (92% oil; 48% developed) at December 31, 2011 and net production of 171,000 barrels of oil equivalent per day in the third quarter ended September 30, 2012.

Terry Marshall Senior Vice President Corporate Finance Group Moody'sCanada Inc.70 York Street Suite 1400 Toronto, ON M5J 1S9 Canada(416) 214-1635Donald S. Carter, CFA MD - Corporate Finance Corporate Finance Group(416) 214-1635 Releasing Office: Moody's Canada Inc.70 York Street Suite 1400 Toronto, ON M5J 1S9 Canada(416) 214-1635(C) 2012 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights reserved.

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