Nexen Inc. (Nexen) has announced a strategic review of its gas and power marketing businesses, which could result in the sale of whole or part of the businesses. We are encouraged that the company is seeking to identify further strategies to reduce financial risk arising out of trading and thereby volatility in financial performance, however at this point the impact of potential developments is uncertain. As our fundamental outlook for the common stock remains…

Nexen Inc.'s (Nexen) common stock price has increased 20.9% since our last update report, which we believe reflects positive investor sentiment due to the increase in crude oil prices. We expect a recovery in oil prices and increased production levels for Nexen during FY 2010 to support our long term positive outlook for the common stock. Furthermore, given the better than expected results in 4Q 08 we reiterate our HOLD rating for the common stock over our 6-12…

While production from the Ettrick field is expected to come on stream in the next few months and add approximately 10,000 barrels of oil equivalent per day (boe/d) to the company’s total production during 2009. Production at the Longhorn field, which is expected to commence during 2H 09, will add another 50 mn cubic feet per day (mmcfe/d) of natural gas to Nexen’s production levels. During January 2009, the company also increased…