December 13, 2016 9:53 am
Updated: December 13, 2016 9:54 am

Husky plans to increase capital spending for 2017

The Husky Energy upgrader facility in Lloydminster, Saskatchewan. A man has been arrested after making a threat on social media to set off a bomb at the upgrader.

Larry MacDougal / The Canadian Press Images
A A

Husky Energy says it’s planning to increase its capital spending program next year to between US$2.6 billion and US$2.7 billion.

That’s up from about US$2 billion this year, which was about $100 million below Husky’s previous estimate.

Husky is also planning to increase daily oil production next year as volumes increase from several projects.

Story continues below

READ MORE: Oil cuts spur optimism in Canadian oilpatch after 2-year slump

Current production at its Sunrise oilsands operation north-east of Fort McMurray, Alta., is expected to be from 40,000 to 44,000 barrels per day, up from the current level of 35,000 barrels per day.

Production is also scheduled to rise from several heavy-oil thermal projects, mostly in the Lloydminster area near the Alberta-Saskatchewan boundary.

The Calgary-based multinational says its average daily production in 2016 is on track to be between 318,000 and 320,000 barrels per day and will rise to between 320,000 and 335,000 barrels per day in 2017.

 

Report an error

Comments

Want to discuss? Please read our Commenting Policy first.