2016 guidance calls for flat production and capex relative to 2015e, in line with expectations. The production ramp up at Sunrise continues to track Management’s expectations. Husky will try to sell a partial stake in its midstream business. Together with Upstream assets for sale, it appears that Husky is assuming at least $2.2 billion in total proceeds, given its new target of <1.5x debt to cash flow at US$40/bbl WTI, and expectation for cash flow to fund its ~$3 billion capex program in 2016e.
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Husky 2016 Budget As Expected – Midstream Monetization Planned
- Published:
14 Dec 2015 -
Author:
Michael P. Dunn -
Pages:
11
2016 guidance calls for flat production and capex relative to 2015e, in line with expectations. The production ramp up at Sunrise continues to track Management’s expectations. Husky will try to sell a partial stake in its midstream business. Together with Upstream assets for sale, it appears that Husky is assuming at least $2.2 billion in total proceeds, given its new target of <1.5x debt to cash flow at US$40/bbl WTI, and expectation for cash flow to fund its ~$3 billion capex program in 2016e.