Canada's Husky Energy Says Oil Price Rally To Generate Free Cash
June 1 (Reuters) - Husky Energy, Canada's No. 3 integrated oil company, said it expected to generate free cash flow and may reinstate a cash dividend as crude oil prices have rallied in recent weeks.
The company said it could generate about C$800 million ($611.48 million) in free cash flow if oil rises to $50 from $40 on an annualized basis.
Husky said it was on track to complete eight projects by the end of this year, contributing nearly 90,000 barrels per day of new production once fully ramped up.
(Reporting by Amrutha Gayathri in Bengaluru; Editing by Anil D'Silva)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- As Crude Rallies, Husky May Gain as Top Oil-Sands Stock Pick (Jan 15)
- Husky Energy Posts Smaller 2Q Loss On Higher Oil Prices (Jul 21)
- Canada's LNG Failure Is Its Own Fault, Seven Gen Founder Says (Jul 17)