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Company News

Husky Energy makes further cuts to 2020 capital spending

April 20 (Reuters) - Canadian oil and gas producer Husky Energy on Monday cut its 2020 capital expenditure by an additional C$700 million ($496.31 million), citing a hit to oil prices from the coronavirus outbreak.

The Calgary, Alberta-based company said it now expects to spend between C$1.6 billion and C$1.8 billion, about half its earlier estimate of C$3.2 billion to C$3.4 billion.

Husky had previously cut its 2020 capital spending budget by C$900 million in March, citing challenging global market conditions. ($1 = 1.4104 Canadian dollars) (Reporting by Shradha Singh in Bengaluru; Editing by Anil D’Silva)

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