Husky Energy To Grow Margins & Invest In Higher Return Production

Source: www.gulfoilandgas.com 12/13/2016, Location: North America

Husky Energy (HSE) announced today its 2017 production guidance and capital program.

"Our vitals are strong, including a solid balance sheet, a low break-even and a high return portfolio," said CEO Rob Peabody.

"Our investment program will generate higher margins, further lower our corporate break even and increase our free cash flow."

As a result of the ongoing transformation, overall sustaining and maintenance capital requirements have decreased about 25 percent over the last two years and are forecast to be in the range of $2.2-2.3 billion for 2017, added Peabody.

Project investments continue to deliver a minimum 10 percent (after tax) internal rate of return at a WTI oil price in the low $40s US per barrel, and break even with a WTI oil price in the low $30s US per barrel.

The capital expenditure program for 2017 will be in the range of $2.6-2.7 billion. Capital spending is expected to be fully funded within cash flow from operations.


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