Oil sands player Nexen trims 2009 spending

摘要

New York-Flexibility was the word du jour for Canadian independent producer and new oil sands player Nexen on December 10 as executives there were the latest among industry peers to acknowledge that 2009 capital spending and cash flows are a fast moving target. Nexen's 2009 capital spending plan of $2.56 billion for oil and gas projects would mean a 15% fall from its 2008 amount of $3 billion. Assuming WTI crude oil prices between $50-$65/barrel in 2009, Nexen expects its cash flow to fall between $2.3 and $2.9 billion, the company said.