December 1, 2011 / 2:34 PM / 7 years ago

UPDATE 1-Husky Energy sees FY output at high end of forecast

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Dec 1 (Reuters) - Refiner Husky Energy Inc sees its year-end production to be at the high end of its prior forecast, and said it expects 2012 capital spending to fall 3 percent.

Canada’s third-largest oil producer said it expects year-end prodcution for 2011 in the range of 312,000 barrels of oil equivalent per day (boe/d).

Third-quarter total production for the company before royalties averaged 309,100 boe/d.

For 2012, it expects production to be impacted due to maintenance at its Atlantic region offstations, and sees annual production in the range of 290,000-315,000 bbls/day.

The company said it plans to spend C$4.7 billion in capital expenditure in 2012, compared to its 2011 capital spending forecast of C$4.86 billion.

Husky, controlled by Hong Kong billionaire Li Ka-shing, produces oil and gas in Canada and Southeast Asia, and operates refineries in British Columbia and Ohio.

The company also plans to double its investment to $610 million in the Sunrise oilsands project in Northern Alberta as it ramps up construction.

Just over $1 billion is budgeted for developing its Liwan Gas project in offshore China, which is on target for first production in 2013-2014, the company said in a statement.

Shares of Husky closed at C$25.40 on Wednesday on the Toronto Stock Exchange. ($1 = 1.0168 Canadian dollars) (Reporting by Maneesha Tiwari in Bangalore; Editing by Esha Dey)

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