Husky Energy Acquires Foothills Natural Gas Properties

Husky Energy (TSX:HSE) announced that a purchase agreement has been signed to acquire natural gas properties in west central Alberta, which will significantly add to the Company’s production and reserves and extend the optimum utilization of its Ram River Gas Plant.

The press release is quoted as saying:

The asset acquisition will provide Husky with more than 65 million cubic feet per day (mmcf/d) of natural gas production or 10.8 thousand barrels of oil equivalent per day (mmboe). In addition, the acquisition will contribute 37 mmboe of proven reserves and 11.7 mmboe probable reserves. Husky’s reserves estimates are as of June 1, 2010. The agreement is subject to final closing and regulatory approvals, expected in fall of 2010.

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