Husky slashes 2016 capital spending and suspends dividend
The company cut $800 million off its 2016 capital budget and plans to reduce breakeven costs to sub-$40/bbl. Production targets were boosted slightly to 315-345,000 boe/day. Husky is considering partial sale of pipelines, storage facilities, royalty lands and legacy assets in Western Canada.
The planned divestitures do not include heavy oil or oil sands assets.