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Husky Energy: Future of Chinese Assets Still UnclearStreetwise Blog • Jul. 28, 2010
Husky Energy Inc Q2 2010 Earnings Call TranscriptJul. 31, 2010
Husky Energy Inc. Q1 2010 Earnings Call TranscriptMay. 31, 2010
There are no News articles on HUSKF.
HUSKF vs. ETF Alternatives
Thursday, Apr 35:40 PM
Thursday, Apr 35:40 PM| Comment!
- Husky Energy (HUSKF) says it is considering a liquefied natural gas project on Canada's east coast amid interest from European countries looking to diversify their natural gas supplies away from Russia.
- Natural gas production from the Atlantic may present a new growth avenue for Husky, which has seen its oil production decline from Atlantic fields despite significant new discoveries; the company's Atlantic output fell to 40.8K bbl/day in Q4 from 45.7K in the year-ago quarter, partly due to its maturing White Rose fields.
Monday, Mar 318:26 AM
Monday, Mar 318:26 AM| 1 Comment
- China's first deepwater natural gas field, the $6.5B Liwan-3 project which is majority owned by Cnooc (CEO) and operated and 49% owned by Canada's Husky Energy (HUSKF), has started producing gas, marking a milestone in China's efforts to exploit energy reserves deep under the South China Sea.
- China wants to increase gas use to ~10% of its energy mix by 2020 from less than 5% now as part of a push to wean off coal, which supplies around two-thirds of its fuel.
- Initial natural gas sales from the field are expected to total ~250M cf/day, increasing to ~300M cf/day in H2 2014.
Monday, Mar 1010:23 AM
Monday, Mar 1010:23 AM| Comment!
- 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%.
Thursday, Feb 1311:49 AM
Thursday, Feb 1311:49 AM| Comment!
- Husky Energy (HUSKF) announced yesterday it shipped Canada's first-ever batch of oil to India as it and other Canadian producers seek to boost crude exports to more markets outside of the U.S.
- Husky says it exported 1M barrels of crude to Indian Oil Corp. from its White Rose offshore oil field in eastern Canada late last year, a move it calls a test run and a precursor to increased exports to refiners in India.
- Separately, Husky reported Q4 net income fell to C$0.18/share, down from C$0.48/share in the year earlier period but better than expected; cash flow declined 19% Y/Y to $1.14B.
Wednesday, Feb 127:29 AM
Monday, Feb 39:39 AM
Monday, Feb 39:39 AM| Comment!
- Husky Energy (HUSKF) says it will proceed with a $300M equipment upgrade at its refinery in Lima, Ohio, so it can process heavy crude from western Canada.
- The project will allow the refinery to process up to 40K bbl/day of heavy crude, starting in 2017.
- Engineering work on the project has started, and the equipment upgrades are expected to be done in late 2015 and late 2016.
Thursday, Jan 910:45 AM
Thursday, Jan 910:45 AM| Comment!
- Husky Energy (HUSKF -0.6%) says said it has sanctioned two new heavy oil thermal projects in Saskatchewan, which will deliver a total of 20K bbl/day of production with first oil expected in 2016.
- "Steady performance from our existing thermal facilities and these two new plants, along with projects currently under construction at Sandall and Rush Lake, will add another 33,500 bpd of new production over the next three years, more than offsetting declines in non-thermal production," CEO Asim Ghosh says.
Wednesday, Dec 112013, 3:40 PM
Wednesday, Dec 112013, 3:40 PM| 15 Comments
- The U.S. decision on the Keystone XL pipeline is becoming more critical for oil sands producers such as Canadian Natural Resources (CNQ) and Suncor (SU) than pipeline builder TransCanada (TRP); for producers, Keystone is the earliest export line scheduled to ease bottlenecks which have helped push Canadian heavy crude $27/bbl below the U.S. benchmark.
- CNQ, with 120K bbl/day of capacity booked on Keystone XL, may gain 5% while other producers such as SU, Cenovus (CVE), Husky Energy (HUSKF) and Imperial Oil (IMO) may rise if the State Department’s review is positive, Cormark predicts, while a negative report could spur a 3% drop for CNQ.
- On the other hand, Keystone XL is only worth C$1.50 to TRP shares whether or not the project is approved, as the company has invested in other projects, according to some analysts.
- John Podesta’s return to the White House places a Keystone opponent within Pres. Obama's inner circle, although he supposedly is recusing himself from issues surrounding the controversial project.
Wednesday, Dec 112013, 10:06 AM
Wednesday, Dec 112013, 10:06 AM| Comment!
- Husky Energy (HUSKF +1.1%) says it plans capital spending of ~C$4.8B in 2014, slightly less than in 2013, and is track for substantial production growth next year, helped by the start of production from the Liwan Gas Project in the South China Sea.
- Husky sees 2014 output averaging 330K-355K boe/day, vs. estimated 2013 production of 312K boe/day; its five-year compound annual production growth target through 2017 is 5%-8% through 2017.
Friday, Nov 152013, 7:55 AM
Friday, Nov 152013, 7:55 AM| Comment!
- China's Cnooc (CEO), joining with Canada's Husky Energy (HUSKF), is set to start the pumps at its first deepwater natural gas project, part of China's effort to more than double its use of gas to 10% of the country's energy mix by 2020.
- The Liwan-3 gas field southeast of Hong Kong is expected to go online by early next year and eventually pump ~4% of China's gas supply, with the potential to send more gas to China than current imports from Australia.
- Liwan's initial output of ~300M cf/day will rise to 350M next year when a second, nearby field goes online, and should reach 500M with the connection of a third field more than a year from now.
Thursday, Sep 262013, 8:19 AM
Thursday, Sep 262013, 8:19 AM| 3 Comments
- Statoil (STO) discovers up to 600M barrels of recoverable oil at its Bay du Nord prospect offshore Canada, its third discovery in a potential new core production area.
- The discovery in the Flemish Pass Basin off Newfoundland was first announced in August, but STO said a sidetrack well drilled this week had confirmed the significance of the find.
- STO previously made the Mizzen discovery in the same area, expected to hold 100M-200M barrels of recoverable oil, and the Harpoon discovery, which is still under evaluation.
- The Norwegian company is the operator of the discovery and holds a 65% stake; Husky Energy (HUSKF.PK) owns the remaining 35%.
- STO +1.5% premarket.
Wednesday, Aug 142013, 3:43 PM
Wednesday, Aug 142013, 3:43 PM| 2 Comments
- Petrobras (PBR +0.9%) shares look attractive using net asset value analysis, but investors should take a wait-and-see approach since the stock is unlikely to outperform in the next year, Barclays believes.
- While management has made solid progress in terms of efficiency, production has not yet begun to show Y/Y improvement; given PBR’s track record of underperforming production guidance, the firm doesn’t think investors will give the shares credit until reported results confirm management’s guidance.
- Rather than PBR, Barclays suggests Suncor Energy (SU), ConocoPhilips (COP) and Husky Energy (HUSKF.PK) for better risk/reward potentials. (also)
Wednesday, Jun 52013, 5:25 PMConocoPhillips (COP), Suncor (SU) and Husky Energy (HUSKF.PK) offer the best value among energy shares, with Exxon (XOM) and Murphy Oil (MUR) at the bottom of the value heap, Barclays says. COP will rely on its "unmatched" North American unconventional oil portfolio to get better returns for its investments, the firm says in upgrading shares to Overweight with an $80 target (from $67). |Wednesday, Jun 52013, 5:25 PM| 8 Comments
Wednesday, Feb 62013, 9:19 AMHusky Energy (HUSKF.PK) says it earned C$0.48/share in Q4, up from C$0.42 a year earlier; adjusted earnings were unchanged at $C0.50. Production averaged 319.3K boe/day, almost flat Y/Y, while realized refining margins averaged $16.24/bbl, vs. $14.80 a year earlier. Cash flow rose 18% to $1.41B, or $1.44/share. |Wednesday, Feb 62013, 9:19 AM| Comment!
Monday, Jan 142013, 6:14 PMCanada’s independent oil producers may face months of depressed earnings and weak share prices as they jockey for space on over-full oil pipelines, analysts say. "The shortfall in takeaway capacity is absolutely going to weigh on realized prices for the Canadian producers over the near term on... especially heavy oil, which is at a pretty substantial discount to WTI right now," Macquarie says. |Monday, Jan 142013, 6:14 PM| 13 Comments
Tuesday, Dec 182012, 8:54 AMTaiwan's state-owned CPC makes its first foray into deepwater gas exploration and production, teaming with Canada's Husky Energy (HUSKF.PK) to explore off its southwestern coast in the South China Sea. CPC will have an initial 25% working interest in the field, which will double if hydrocarbon reserves of a commercially viable scale are found. |Tuesday, Dec 182012, 8:54 AM| Comment!
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