Nexen Posts Decline In Q4 Profit

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Nexen Inc
NXY
posted a drop in its fourth-quarter profit. Nexen's quarterly earnings dropped to C$43 million, or 8 Canadian cents per share, from C$160 million, or 30 Canadian cents per share, in the year-ago period. Nexen's cash flow surged 5% to C$585 million, or C$1.11 per share. Its average daily production, before royalties, declined 15% to 208,000 barrels of oil equivalent a day in the quarter. Nexen shares closed at $18.91 yesterday.
Posted In: EarningsNewsEarnings
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