Husky Energy to increase capex by 20%

Husky Energy is increasing its 2010 capital expenditure program and production guidance to $3.1 billion, an increase of 20% over 2009.

Offshore staff

CALGARY, Canada -- Husky Energy is increasing its 2010 capital expenditure program and production guidance to $3.1 billion, an increase of 20% over 2009.
The company’s 2010 offshore plans will focus on drilling development wells on the North Amethyst project. Production from the area is expected in 1Q 2010 and will ramp up during the year as new wells are tied-in.

The company also plans to award engineering and construction contracts to progress the Liwan gas project on block 29/26 in the South China Sea. The project is expected to be sanctioned in early 2010. The rig West Hercules will drill six to eight exploration, delineation, and development wells during the year. The recently discovered LiuHua gas field will be developed in conjunction with the Liwan gas field, and will share development facilities, the company says.

12/14/2009

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