Netbacks are the operating cash margin we receive for every barrel or equivalent barrel (boe) sold.
As we’ve brought production on stream from our attractive global projects, Nexen has realized industry-leading cash netbacks. Many of these projects have low or no royalties, and low operating costs, which results in high netbacks. Going forward, we are strongly positioned to remain a top performer in this area. For example, oil from the Usan joint venture offshore West Africa is expected to boost our average annual corporate-wide cash netbacks.
View a detailed calculation of our oil and gas netbacks (PDF 0.6MB) by operating segment.