Husky Energy says 2013 reserves growth outpaces production

|About: Husky Energy Inc. (HUSKF)|By:, SA News Editor

Husky Energy (HUSKF) says its reserves growth outpaced production last year as a result of the addition of reserves in its oil sands business, the full-scale development of the Ansell liquids-rich gas resource play and increased heavy oil recovery from thermal developments in western Canada.

Husky's 2013 reserves replacement ratio was 166%, and the average proved reserves replacement ratio realized over the past three years was 172%.

Husky raises its 2014 production guidance to 330K-355K boe/day and says it is on track to achieve its 2012-17 production growth rate target of 5%-8%.