Newspaper article The Canadian Press

Husky Energy 2016 Capital Budget Assumes Benchmark Crude at US$40 a Barrel

Newspaper article The Canadian Press

Husky Energy 2016 Capital Budget Assumes Benchmark Crude at US$40 a Barrel

Article excerpt

Husky Energy budget assumes US$40 oil

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CALGARY - Husky Energy (TSX: HSE) is assuming oil will be worth US$40 a barrel next year and that future investments will be able to break even with West Texas Intermediate crude at US$30 per barrel -- which is below the latest price.

The Calgary-based company is projecting a 2016 capital budget between $2.9 billion and $3.1 billion -- about in line with this year -- including sustaining and maintenance costs in the range of $2.4 billion and $2.6 billion.

It also says 2015 total capital spending is on track to be within previously announced guidance of $3 billion.

The company says next year's sustaining and maintenance costs will be 15 to 20 per cent below the historical average of $3 billion but it hasn't disclosed the level of this spending in 2015. …

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