CNOOC completes acquisition of Nexen
CNOOC Ltd. has completed the $15.1-billion acquisition of Nexen Inc.
CALGARY, Canada– CNOOC Ltd. has completed the $15.1-billion acquisition of Nexen Inc.
Kevin Reinhart will continue as CEO of Nexen and will maintain responsibility for all of the company’s operations. The Calgary headquarters will continue to be responsible for managing all of Nexen’s existing assets as well as CNOOC's North and Central American assets.
Nexen has established a new board of directors comprised of representatives from both companies and independent directors. Li Fanrong has been appointed chair of the board of Nexen. The other directors are Fang Zhi, Kevin Reinhart, Barry Jackson, Thomas O'Neill, and William Berry.