Nexen shares tumble on lower Long Lake outlook

Nexen Inc. saw its shares fall on Tuesday after the Calgary-based oil producer said its Long Lake oilsands project won't hit full capacity this year or next.
Nexen's stock fell 82 cents on the Toronto Stock Exchange, or nearly four per cent, to close at $21.55 after the company said Long Lake would produce a range of 38,000 to 42,000 barrels per day in 2011 versus a design rate of 72,000 bpd. The company expects Long Lake to exit next year at a rate of 42,000 to 55,000 bpd, well below its full production potential.
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Source: Calgary Herald