Canada's Husky Energy says oil price rally to generate free cash

Wed Jun 1, 2016 6:33am EDT
 
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June 1 (Reuters) - Husky Energy, Canada's No. 3 integrated oil company, said it expected to generate free cash flow and may reinstate a cash dividend as crude oil prices have rallied in recent weeks.

The company said it could generate about C$800 million ($611.48 million) in free cash flow if oil rises to $50 from $40 on an annualized basis.

Husky said it was on track to complete eight projects by the end of this year, contributing nearly 90,000 barrels per day of new production once fully ramped up. ($1 = 1.3083 Canadian dollars) (Reporting by Amrutha Gayathri in Bengaluru; Editing by Anil D'Silva)