Husky may produce less in 2019,hurt by mandated cuts

摘要

The Canadian oil and gas producer shifted its projection for output this year to 290-305K boe/d,from the 300K boe/d it had projected in Dec.Even though the range indicates production may be 1.7% higher,the possibility of it being 3.3% lower sent share prices 3.5% lower.Husky Energy had already seen production fall from 320.4K boe/d in 3Q to 304.3K boe/d in 4Q largely due to a spill and associated shutdown at the White Rose field in Newfoundland and Labrador.Operations resumed in Jan.and the ramp-up is expected to continue through 2Q.Husky holds a 72.5% operating share in the field,and Suncor Energy Inc.owns the remaining 27.5%.White Rose produced around 25K b/d in Sept.