Husky Energy will release its 2018 fourth quarter and annual results before markets open on Tuesday, February 26, 2019. A conference call will be held the same day beginning at 9 a.m. Mountain Time . CEO Rob Peabody, COO Rob Symonds and CFO Jeff Hart will participate in the call. To listen live: Canada and U.S. Toll Free: 1-855-327-6838 Outside Canada and U.S.: 1-604-235-2082 To listen to a recording Canada and U.S. Toll [...]
Offer expired January 16 with minimum tender condition not met Husky will not extend its offer given lack of MEG Board and shareholder support Company to focus on developing its deep portfolio of organic growth projects as set out at Investor Day on May 28, 2018 Potential divestment of Husky’s retail business and Prince George Refinery will continue; proceeds provide for enhanced cash returns to shareholders and [...]
Husky Energy today announced it will undertake a strategic review and will potentially sell its Canadian retail and commercial fuels business and its Prince George Refinery. Husky’s decision to review and consider a sale of non-core Downstream assets comes as it increasingly focuses on core assets in its Integrated Corridor and on its Offshore business in Atlantic Canada and the Asia Pacific region. The potential [...]
Husky Energy reminds MEG Energy shareholders to tender their shares immediately in support of Husky’s full and fair offer announced on September 30, 2018. Under the terms of Husky’s offer, each MEG shareholder has the option to choose to receive consideration per MEG share of $11 in cash or 0.485 of a Husky share, subject to maximum aggregate cash consideration of $1 billion and a maximum aggregate number of [...]
Capital spending $300 million less than previously forecast Record thermal production in Q4 2018; Full rates achieved at Sunrise, Tucker and Rush Lake 2 Husky Energy plans to spend approximately $3.4 billion on its capital expenditure program in 2019 as it continues to invest in a deep portfolio of higher-margin, longer-life projects. This is about $300 million less than forecast at the Company’s Investor Day in May [...]
Husky Energy today announced it has met all regulatory requirements for its full and fair offer to acquire MEG Energy, including approval granted under the Investment Canada Act. “Receiving regulatory approvals is a significant step toward realizing this compelling opportunity,” said CEO Rob Peabody. “Our proposal offers an enhanced shareholder return proposition with much lower risk. Together, Husky and [...]
The Board of Directors of Husky Energy has announced the appointment of Jeff Hart as Chief Financial Officer . “Jeff is already an integral member of our executive management team, having served as our Acting CFO since April 2018, and has extensive experience in progressively senior finance roles at Husky,” said CEO Rob Peabody. “As such, he is well positioned to ensure the successful execution of our [...]
Production remains shut in at the SeaRose floating production, storage and offloading vessel with all production wells secure after a period of extreme weather and an oil release late last week. Husky Energy had shut in production at the White Rose field Thursday, November 15 due to operational safety concerns resulting from severe weather. The release occurred during restart procedures on Friday, November 16. Husky was [...]
Operations remain suspended at the SeaRose floating production, storage and offloading vessel with all production wells secure after a period of extreme weather late last week. Husky Energy had shut in oil production at the White Rose field Thursday, November 15 due to operational safety concerns resulting from severe weather. A spill occurred on Friday, November 16. A shut-in subsea flowline is believed to be the source [...]
Husky’s Offer is a Premium Valuation MEG’s Share Price Would Be Substantially Lower Absent the Offer Delivers Immediate Value With Comparable Upside and Much Less Risk Husky Energy today reaffirms its commitment to the full and fair Offer to acquire MEG Energy as outlined on October 2, 2018, and comments on MEG’s recent statements and third quarter results. “MEG’s results reinforce our view [...]
The Board of Directors of Husky Energy has declared a quarterly dividend of $0.125 per common share for the three-month period ended September 30, 2018. The dividend will be payable on January 2, 2019 to shareholders of record at the close of business on November 26, 2018. Regular dividend payments on each of the Cumulative Redeemable Preferred Shares – Series 1, Series 2, Series 3, Series 5 and Series 7 &ndash [...]
Funds From Operations up 48%, Earnings up 300% Year over Year Husky Energy generated funds from operations of $1.3 billion in the third quarter, up 48 percent from $891 million in the same period last year. Year-to-date, funds from operations are $3.4 billion. Free cash flow in the quarter was $350 million and $1.1 billion year-to-date. Net earnings were $545 million, a 300 percent increase compared to $136 million in Q3 [...]
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