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Company News

Husky Energy cuts capital spending for 2020 and 2021

Dec 2 (Reuters) - Canadian oil and gas producer Husky Energy Inc said on Monday it would cut its capital spending by C$500 million over the next two years when compared to its 2019 outlook.

It expects 2020 capital expenditure to be between C$3.2 billion ($2.41 billion) and C$3.4 billion, C$100 million lower than the 2019 forecast of C$3.3 billion to C$3.5 billion.

Husky said it expects average annual 2020 production to be about 295,000-310,000 barrels of oil equivalent per day (boepd), higher than 2019 guidance of 290,000-305,000 boepd.

$1 = 1.3301 Canadian dollars Reporting by Arunima Kumar in Bengaluru; Editing by Arun Koyyur

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