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Released December 14, 2016 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Husky Energy Incorporated's (TSX:HSE) (Calgary, Alberta) capital expenditure program for 2017 will be in the range of C$2.6 billion ($2.0 billion) billion to C$2.7 billion ($2.1 billion), the oil and gas producer said Tuesday. For this year, capital expenditures are anticipated to be C$2 billion ($1.5 billion), about C$100 million ($76 million) below the guided range.
Industrial Info is tracking nearly $12 billion in active Husky Energy projects.
The capital expenditures for 2017 include C$1.5 billion ($1.1 billion) to C$1.6 billion ($1.2 billion) for upstream activities, and C$725 million ($552 million) to C$765 million ($583 million) for downstream activities, including planned turnarounds.
Chief Executive Officer Rob Peabody said in a press statement that overall sustaining and maintenance capital requirements have decreased about 25% over the last two years and are forecast to be in the range of C$2.2 billion ($1.7 billion) to C$2.3 billion ($1.8 billion) for 2017.
Peabody said Husky will add about 45,000 barrels of oil (BBL/d) of higher return production in 2017, much of which will replace declines elsewhere. Overall production is expected to be in the range of 320,000-335,000 barrels of oil equivalent per day (BOE/d). Production for 2016 is expected to be within guidance at 318,000-320,000 BOE/d.
The company's governing board has sanctioned several new projects, including the 10,000-BBL/day Rush Lake 2 Lloyd bitumen thermal project, located near Paynton, Saskatchewan, with first oil scheduled for the first half of 2019, Peabody said during a conference call with investment analysts.
Downstream at its Lima Refinery in Ohio, Husky's crude oil flexibility project has increased heavy crude feedstock processing capacity to about 10,000 BBL/day, with the goal of increasing heavy crude capacity to 40,000 BBL/day in 2018, Peabody said. Overall, Husky Energy's heavy crude processing capacity will be about 210,000 BBL/d by the end of 2018.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Industrial Info is tracking nearly $12 billion in active Husky Energy projects.
The capital expenditures for 2017 include C$1.5 billion ($1.1 billion) to C$1.6 billion ($1.2 billion) for upstream activities, and C$725 million ($552 million) to C$765 million ($583 million) for downstream activities, including planned turnarounds.
Chief Executive Officer Rob Peabody said in a press statement that overall sustaining and maintenance capital requirements have decreased about 25% over the last two years and are forecast to be in the range of C$2.2 billion ($1.7 billion) to C$2.3 billion ($1.8 billion) for 2017.
Peabody said Husky will add about 45,000 barrels of oil (BBL/d) of higher return production in 2017, much of which will replace declines elsewhere. Overall production is expected to be in the range of 320,000-335,000 barrels of oil equivalent per day (BOE/d). Production for 2016 is expected to be within guidance at 318,000-320,000 BOE/d.
The company's governing board has sanctioned several new projects, including the 10,000-BBL/day Rush Lake 2 Lloyd bitumen thermal project, located near Paynton, Saskatchewan, with first oil scheduled for the first half of 2019, Peabody said during a conference call with investment analysts.
Downstream at its Lima Refinery in Ohio, Husky's crude oil flexibility project has increased heavy crude feedstock processing capacity to about 10,000 BBL/day, with the goal of increasing heavy crude capacity to 40,000 BBL/day in 2018, Peabody said. Overall, Husky Energy's heavy crude processing capacity will be about 210,000 BBL/d by the end of 2018.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
