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Husky Energy cuts capital spending for 2020 and 2021

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.

Dec 2 (Reuters) - Canadian oil and gas producer Husky Energy Inc HSE.TO 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)

((Arunima.Kumar@thomsonreuters.com; within U.S. +1 646 223 8780 (Extn 1760), outside U.S. +91 80 6749 1760))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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