Nexen profits fall but Long Lake improves
Jul 19, 2012 at 10:39 am in Business, News by tyler.king
Nexen says things are getting better at Long Lake.
The company says production at the oil sands site improved 10% during the first quarter to 34,500 barrels per day.
The project has still never come close to its design capacity of 72,000 bpd because of technical glitches.
The company reported 109 million dollars in profits for the second quarter; that’s lower than analysts expected and less than half what it made in the second quarter of last year.