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Nexen Nearing Day High As Inks B.C. Shale Deal with Japan Company; Plans to Spend $3.2 Billion in 2012

Nexen Inc. (NXY.TO) went up almost 6% near the higher end of a $15.33 to $16.26 range after announcing today that it has signed a deal with a Japanese company to sell 40% of its northeastern British Columbia natural gas assets, which include its interests in its Horn River, Cordova and Liard Basin.

The company also said that $2.7 billion to $3.2 billion are being invested to advance development projects, and production growth from Usan, Long Lake and Golden Eagle.

Companies: Nexen Inc.

Price: US$15.73. Price Change: +0.96. Percent Change: +6.5.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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