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Husky Energy sets capex at up to $2.7 billion

Staff Writer |
Husky Energy raised its 2017 production forecast and said it would set aside more money for capital expenditure.

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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.

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