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Husky Energy sets capex at up to $2.7 billion

Staff Writer | December 14, 2016
Husky Energy raised its 2017 production forecast and said it would set aside more money for capital expenditure.
Husky Energy
Oil exploration   The third integrated oil company in Canada
The third integrated oil company in Canada said it expected average production of 320,000-335,000 barrels of oil equivalent per day (boe/d) in 2017, compared with 318,000-320,000 boe/d in 2016.

The company forecast 2017 capital expenditure of $2.6-$2.7 billion, up from $2 billion in 2016.

The company’s overall sustaining and maintenance capital requirements have fallen about 25 percent over the last two years and are forecast to be in the range of $2.2-$2.3-billion for 2017, Husky said.

The Calgary-based company also forecast average annual production of 40,000-44,000 boe/d at its Sunrise oil sands project in 2017, compared with 35,000 boe/d in 2016.