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Husky Energy Issues Preliminary 2019 Capital Spending Budget, Production Update

Husky Energy Inc. (HSE.TO) announced the company plans to spend approximately C$3.4 billion on its capital expenditure program in 2019, about C$300 million less than forecast at the Investor Day in May 2018, and includes capital spending reductions resulting from Alberta's mandated oil production cuts. Husky's average annual 2019 production is expected to be approximately 300,000 barrels of oil equivalent per day (boe/day).

"Husky continues to attain global pricing for the vast majority of our production. Our low-cost integrated model in North America and high-margin offshore business shield us from the commodity discounts realized by many of our peers," said CEO Rob Peabody.

Husky said it will provide a more detailed 2019 production and capital guidance update in the first quarter, following resolution of the proposed acquisition of MEG Energy.

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