Nexus Energy denies Shell, ConocoPhillips takeover talks

The Australian newspaper yesterday reported that Nexus Energy could sell its assets or even the whole company either to Shell or to ConocoPhillips.

However, Nexus Energy has issued a press release saying it is “not in discussions with Shell or ConocoPhillips in relation to any potential transaction, nor is the Company aware of any potential approach from Shell or ConocoPhillips.”

“Further, as previously announced, the Company continues to advance its strategic review processes with the objective of unlocking value to achieve the optimum outcome for shareholders. As part of this review, the Company has been actively engaged with a number of third parties in pursuing a range of strategic options. The outcome of the Company’s strategic review process is not yet complete and will be announced to the market once concluded. The Company is mindful of its continuous disclosure obligations under the ASX Listing Rules,” Nexus Energy said.

The Australian wrote that Shell could be interested in buying Nexus Energy because the latter owns the Crux offshore field, located near Shell’s Prelude field, off the coast of W. Australia.

 

Offshore Energy Today Staff, February 14, 2014

 

 

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