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China’s Cnooc Limited (NYSE:CEO) reports that it wants a national security review by the United States for its proposed $15 billion acquisition of Canadian oil producer Nexen Inc. (NYSE:NXY). The company plans to describe itself as a publicly traded company with a record of compliance with United States law. The purchase has evoked criticism from U.S. lawmakers of both parties, including demands that it be investigated as a potential risk to national security.
Apache Corporation (NYSE:APA) intends to drill an offshore well off the coast of Kenya in the near term, as it boots up its search for oil in an area that has become a focus for energy exploration, although an offshore discovery there is yet to come. Apache is now partnered with the British firm Tullow, which made a Kenyan onshore find back in March.
Enerplus Corporation (NYSE:ERF) is putting its hopes on the Fort Berthold oilfield in North Dakota, as it explains that its second quarter profits were cut by about 50 percent due to weak natural gas and oil prices. In addition, the company says that its capital expenditures will rise for the year, as it looks to boost production at the above site. Enerplus calculates that oil and liquids currently represent almost half its production volumes, and it expects to spend approximately C$850 million this year, which would be an increase from the C$800 million from a prior forecast.
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