Nexen reports higher Q4 revenue, $259-million profit

The Canadian Press ~ The News
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CALGARY - Nexen Inc. (TSX:NSY) reports it had a $259-million net profit in the fourth quarter, a turnaround from the loss that the oil and gas producer it experienced a year earlier.
The Calgary-based company says it made progress last year on all three of its main areas: oilsands, shale gas and conventional exploration and development
Nexen's profit for the three months ended Dec. 31 was 50 cents per common share, while net sales rose to $1.55 billion.
In contrast, Nexen had a $181-million loss or 35 cents per share in the fourth quarter of 2008, when it had $1.27 billion of net sales.

Organizations: Nexen Inc., TSX

Geographic location: CALGARY

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