Husky slashes 2016 capital spending and production forecasts

Tue Jan 19, 2016 5:16pm EST
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CALGARY, Alberta Jan 19 (Reuters) - Husky Energy cut C$800,000 ($548,885.08) from its 2016 capital budget and slashed production guidance by 15,000 barrels of oil equivalent per day on Tuesday in the latest sign that Canadian producers are scrambling to cope with low oil prices.

Calgary-based Husky said it will spend between C$2.1-2.3 billion this year, down 27 percent from its original capital budget, and produce between 315,000-345,000 boepd.

The company said savings would be achieved primarily through deferring discretionary activities in Western Canada. ($1 = 1.4575 Canadian dollars) (Reporting by Nia Williams; Editing by Jonathan Oatis)