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Husky Energy Ramping Up Oil Sands Production
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Husky Energy has announced first quarter 2016 results.
The Company is on target to add about 55,000 to 60,000 barrels per day (bbls/day) from low sustaining capital projects. By the end of this year, more than 40 percent of overall production will come from such projects, compared to just eight percent in 2010.Developments include:
First Quarter Results Renewal of a $2 billion syndicated credit facility, extending the maturity date to March 2020. The Company has $4.6 billion of borrowing capacity, of which $2.6 billion remains availableReconfirmation of an investment grade credit rating by all major rating agencies, without any downgrades Average Upstream production in the first quarter was 341,000 barrels of oil equivalent per day (boe/day). This included continued strong…
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