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Company News

BUZZ-Husky Energy: Down after higher Q4 spending, weak production forecast

** Shares of Canadian integrated oil co down 4.2 pct at C$15.30 following weak FY 2019 output forecast

** Co says 2019 production could be lower than previously expected because of Alberta’s mandatory output cuts

** Sees output of 290,000-305,000 barrels of oil equivalent per day (boe/d) vs 300,000 boe/d that it forecast in Dec.

** Co reports capex of C$1.27 bln in Q4 vs analysts’ average estimates of C$909.8 mln - Refinitiv data

** Reports adj. profit of 19 Canadian cents/shr, which is in line with estimates

** Despite Tuesday’s losses, stock up 8.4 pct so far this year

Reporting by Debroop Roy in Bengaluru

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