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CNOOC extends closing date of Nexen acquisition by 30 days

Nexen Inc. and CNOOC Ltd. mutually agreed to extend the closing date of CNOOC’s $15.1 billion acquisition of Nexen by 30 days to Mar. 2 because regulatory approvals have yet to be obtained from US authorities, Nexen said in a news release.

The US Committee on Foreign Investment has yet to approve the transaction. Nexen owns assets in the Gulf of Mexico.

Consequently, Nexen also announced that it will postpone the release of its 2012 fourth quarter and annual operating and financial results.

Key regulatory approvals have been received from Canada, the UK, the European Union, and China (OGJ Online, July 30, 2012).


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