Third Quarter Delivers Results for Husky Energy

Oil and Gas Investing

Husky Energy Inc. (TSX:HSE) achieved steady results during the third quarter through consistent execution of key performance milestones.

A few highlights of the press release include:

– Net earnings for the quarter were $526 million, or $0.53 per share (diluted), compared to $521 million, or $0.53 per share (diluted), in the third quarter of 2011.

– Cash flow from operations of $1,271 million, or $1.29 per share (diluted), compared to $1,326 million, or $1.39 per share (diluted), in the third quarter of 2011.

– Total production before royalties averaged 285,000 barrels of oil equivalent per day (boe/day), compared to 309,000 boe/day in the third quarter of 2011, reflecting the planned impacts from the now-completed SeaRose FPSO maintenance program, continuing Terra Nova FPSO offstation and lower dry gas production.

Asim Ghosh

Our two new heavy oil thermal projects reached their design production rates within two months of first oil, we completed the SeaRose Floating Production Storage and Offloading (FPSO) offstation program safely and more than three weeks ahead of schedule, and we increased our Downstream throughputs and reliability

Click here to read the Husky Energy (TSX:HSE) press release