Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Husky Energy is targeting a new compound annual growth rate of 5 to 8 per cent between 2012 and 2017. (Jeff McIntosh/THE CANADIAN PRESS)
Husky Energy is targeting a new compound annual growth rate of 5 to 8 per cent between 2012 and 2017. (Jeff McIntosh/THE CANADIAN PRESS)

Husky to boost capital spending budget Add to ...

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 also aims to substantially increase production in the coming years.

This year, it’s on track to meet its goal of boosting production by 3 to 5 per cent.

More Related to this Story

It is now targeting a new compound annual growth rate of 5 to 8 per cent between 2012 and 2017.

Production next year is expected to be between 310,000 and 330,000 barrels of oil equivalent a day, up from the estimated annual production this year of 301,000 barrels a day.

Husky says much of the capital next year will go toward its growth pillars: Southeast Asia, the oil sands and Canada’s east coast.

Follow us on Twitter: @GlobeInvestor

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories