Husky Energy Reduces Planned Capital Spending
SUGAR LAND--May 29, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--Canada's Husky Energy Incorporated (TSX:HSE) (Calgary, Alberta) has reduced its planned capital spending budget for the next five years in order to increase cash flow. The company plans to spend an annual average of C$3.15 billion ($2.34 billion) in the 2019-23 period, versus the previously planned average of C$3.5 billion ($2.6 billion) for the 2018-22 period. In a company press release, Husky Chief Executive Officer Rob Peabody said, "Husky's updated five-year plan demonstrates strong capital discipline in the current environment. The plan achieves a significant increase in free cash flow while increasing production by about 100,000 barrels per day through 2023." Industrial Info is tracking more than $15 billion in active Husky Energy projects, including offshore, oil sands and refining projects.
Within this article: Details of Husky Energy projects
Other companies featured: Jacobs Engineering Group Incorporated (NYSE:JEC)
