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Husky to spend $4.8 billion in 2013, a slight increase from this year
CALGARY – Husky Energy Inc. has set a 2013 capital budget of $4.8 billion, a modest increase from the $4.7 billion it expects to spend this year.
The Calgary-based energy company (TSX:HSE) also aims to substantially increase production in the coming years.
This year, it’s on track to meet its goal of growing production by three to five per cent.
It is now targeting a new compound annual growth rate of five to eight per cent between 2012 and 2017.
Production next year is expected to be between 310,000 and 330,000 barrels of oil equivalent per day, up from the estimated annual production this year of 301,000 barrels per day.
Husky says much of the capital next year will go towards its growth pillars: southeast Asia, the oilsands and Canada’s east coast.
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