Thu, Feb. 12, 9:14 AM
- Husky Energy (OTCQB:HUSKF) swings to a Q4 loss of C$0.65/share from a net income of C$0.18 a year earlier, and cuts its capital budget for the second time in three months, to C$3.1B-C$3B after cutting capex by a third to C$3.4B in December and well below the $5B spent in 2014.
- Husky took a non-cash charge of C$622M related to the impairment of mature assets in Western Canada; cash flow from operations remained flat at C$1.15B
- Q4 production rose 17% Y/Y to 360M boe/day, and expects FY 2015 production will remain within previously announced guidance of 325K-355K boe/day.
- Says near-term projects, including the Sunrise oil sands project in Alberta, the South White Rose extension project offshore eastern Canada and heavy oil thermal projects, are on track and will add ~85K bbl/day by the end of 2016.
Oct. 23, 2014, 11:26 AM
- Husky Energy (OTCQB:HUSKF -0.9%) reports Q3 earnings rose 12% Y/Y to C$571M but fell on an adjusted per-share basis to C$0.49/share, down from C$0.55 a year ago and below analyst consensus estimate of C$0.59, even as revenues rose to $6.43B from $5.8B.
- Q3 production averaged 341K boe/day, up from 309K boe/day in the same quarter last year, reflecting increased volumes at the Liwan Gas Project in the South China Sea, which came onstream earlier this year, and the company's heavy oil thermal projects.
- The average realized price for the company's total upstream production was $68.35/bbl, down 5% Y/Y.
- Cash flow fell less than 1% to C$1.34B.
- Says its Lima, Ohio refinery has been running at reduced rates of ~110K bbl/day since Oct. 16 due to unplanned interruptions on third-party feedstock pipelines.
HUSKF vs. ETF Alternatives
Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, and is publicly traded on the Toronto Stock Exchange under the symbols HSE and HSE.PR.A. The Company operates worldwide with Upstream and Downstream business segments.
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