By OGJ editors
HOUSTON, July 5 -- Nexen Inc., Calgary, is finalizing agreements to sell conventional oil and gas properties in southeast Saskatchewan, northwest Saskatchewan, northeast British Columbia, and the Alberta foothills for $946 million.
The company declined to disclose the identity or the number of buyers. The transactions are expected to close this summer.
As of Dec. 31, 2004, the properties had proved reserves of 49 million boe and proved plus probable reserves of 64 million boe. In the first quarter of 2005, the properties produced 18,300 boe/d.