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October 09, 2015 12:23 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Nexen Energy ULC

Company Overview

Nexen Energy ULC operates as an independent energy company worldwide. The company’s Conventional Oil and Gas segment explores for, develops, and produces crude oil and natural gas from conventional sources. This segment operates in the United Kingdom, Canada and the United States, and offshore West Africa, Colombia, and Yemen. Nexen’s Oil Sands segment develops and produces synthetic crude oil from the Athabasca oil sands in northern Alberta. The company’s Shale Gas segment explores for and produces unconventional gas from shale formations in northeastern British Columbia. The company was formerly known as Nexen Inc. and changed its name to Nexen Energy ULC in June, 2013. The company was fou...

801-7th Avenue SW

Calgary, AB T2P 3P7


Founded in 1971

3,228 Employees





Key Executives for Nexen Energy ULC

Vice Chairman and Chief Executive Officer
Age: 53
Chief Financial Officer
Age: 50
Senior Vice President of Oil Sands
Age: 55
Principal Accounting Officer, Vice President of Insurance and Controller
Age: 46
Senior Vice President of Natural Gas Canada, Operational Services & Technology
Age: 50
Compensation as of Fiscal Year 2015.

Nexen Energy ULC Key Developments

Nexen Energy ULC Receives Second Amendment Order to the Suspension Order from Alberta Energy Regulator

CNOOC Limited announced that suspension order issued by Alberta Energy Regulator on August 28, 2015 to Nexen Energy ULC regarding the oil sands operations located at Long Lake (Long Lake), Alberta, Canada. The board of directors of the company announced that on September 16, 2015, Nexen received a second amendment order to the suspension order from AER, together with a previous amendment order received by Nexen from AER, the application of the suspension order to a portion of the pipelines is lifted and Nexen is able to resume 100% of its Long Lake oil sands operations. Nexen is committed to managing its operations in a safe, environmentally and socially responsible manner. Nexen is complying with the requirements of the AER's Suspension Order, as amended (including addressing the remaining suspended pipelines which are not currently required for operations), with the aim of lifting the suspension order in its entirety. AER will continue to review the matter and determine the level of enforcement action (if any) that Nexen may face once the investigation is completed.

Nexen Energy Confirms Long Lake Shutdown

Nexen Energy is shutting down its Long Lake oilsands operations as it complies with a pipeline suspension order from the Alberta Energy Regulator. The company says it will take up to two weeks to complete the shutdown of the complex steam-assisted gravity drainage operation. On Aug. 28 the regulator ordered that the company cease operation of 95 pipelines in the province after determining that it was not complying with pipeline maintenance and monitoring regulations.

The Alberta Energy Regulator Issues Suspension Order to Nexen Energy to Shut Down More Than 90 of Oil and Gas Networks

Nexen reported safety was its top priority after a provincial regulator ordered dozens of pipeline closed because of maintenance issues. The Alberta Energy Regulator issued a suspension order to Nexen Energy calling on the company to shut down more than 90 of its oil and gas networks after the company was found to be in non-compliance with federal regulations. The order came after last month's report of a failure on the company's Long Lake pipeline network in the province. About 31,000 barrels of a mixture of oil, water and sand spilled in Alberta from the system.

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