Now a publicly traded Canadian company with global interests, Husky Energy was originally founded in 1938 in Cody, Wyoming, United States, as the Husky Refining Company. In 1946, one of its two refineries was moved to Lloydminster, Alberta, Canada, to take advantage of the expanding asphalt and heavy oil opportunities in the area. A wholly owned subsidiary, Husky Oil and Refining Ltd., was created and headquartered in Calgary.
The 1950’s marked the beginning of the Company’s aggressive expansion in both petroleum exploration and production. Separate U.S. and Canadian companies were formed, with the Canadian operations handled by a new company, Husky Oil Ltd., incorporated in 1953.
The following timeline shows the Company’s history from its modest early days to its strength today as one of Canada’s top integrated energy companies.
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Husky Refining Company founded in Cody, Wyoming, United States |
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Husky refinery moved from Cody, Wyoming and rebuilt at Lloydminster, Alberta, Canada |
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Husky Oil Ltd. is incorporated; public shares are issued in Canada and U.S. |
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Canadian operations surpass U.S. counterpart; Canadian company acquires all the outstanding U.S. shares |
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Husky expands heavy oil reserves in the Lloydminster area.
The Company acquires the marketing and refining assets of Union Oil Company of Canada, including retail outlets in Western Canada and a refinery in Prince George, British Columbia. |
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NOVA Corporation of Alberta acquires a majority interest in Husky Oil. |
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Husky begins acquiring acreage off Canada’s East Coast and initiates an exploration program to identify potential oil and gas development opportunities. |
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U.S. subsidiary is sold, Husky focuses its efforts on its Canadian operations |
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Husky Oil is reorganized into a privately held company controlled by NOVA and Hutchison Whampoa, of Hong Kong. |
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The Company acquires Canterra Energy Ltd. |
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NOVA sells its interest in Husky Oil to the Li Group, the controlling shareholder in Hutchison Whampoa. |
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Husky and its partners, the Government of Canada and the provincial governments of Alberta and Saskatchewan, complete construction of the Bi-Provincial Upgrader at Lloydminster to process heavy oil from the area. |
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John C.S. Lau becomes chief executive officer and the Company executes a strategy to establish a base for creating significant growth in assets and build long-term value for its shareholders. |
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Husky and the Government of Saskatchewan purchase the interests of the governments of Canada and Alberta in the Bi-Provincial Upgrader.
Husky acquires Norcen’s interests in Terra Nova and White Rose fields offshore Canada’s East Coast. |
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Husky signs incremental oil recovery contract with the China National Petroleum Corporation to improve production in the Pucheng field in Henan province, China. |
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Husky acquires Mohawk Canada Limited, a major producer of ethanol and ethanol-blended gasoline, more than doubling the number of stations in Husky’s network. Husky is now the fifth largest fully integrated oil company in Canada.
Husky buys the Government of Saskatchewan’s share of the Lloydminster Bi-Provincial Upgrader.
The company purchases East Coast properties from Talisman Energy Inc. and Gulf Canada Resources Ltd., giving Husky 21 percent of the area’s significant discovery licenced acreage.
Construction begins on $160 million Meridian Cogeneration Project in Lloydminster, a joint venture between Husky and TransAlta, to produce electricity. |
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With its acquisition of Renaissance Energy Ltd., the Company increases its portfolio of conventional oil and gas reserves and returns to the stock market as a publicly traded company under the name Husky Energy Inc. (stock symbol HSE)
Husky Energy signs a contract for joint development of the Wenchang oil fields in the South China Sea with China National Offshore Oil Corporation. Husky holds a 40 percent working interest. |
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Company acquires Titanium Oil & Gas Ltd. and Avid Oil & Gas, increasing its land positions in Saskatchewan and Alberta.
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Husky proceeds with developing the White Rose oil field offshore Newfoundland and Labrador.
The Wenchang oilfield, offshore China achieves first production.
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The Company acquires Marathon Canada Limited and the Western Canadian assets of Marathon International Petroleum Canada Ltd.
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The Company begins construction of Western Canada’s largest ethanol plant, 130 million litres per year, at Lloydminster.
Husky begins construction of its Tucker Oil Sands Project in northern Alberta.
The Company acquires 100 percent ownership of the Madura Block natural gas field in Indonesia.
Husky acquires Temple Exploration Inc.
Husky begins blending the new Western Canada Select crude oil stream at its Hardisty, Alberta Terminal.
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Husky’s net earnings are a record $2 billion.
First oil is achieved at White Rose, ahead of schedule and on-budget.
Regulatory approval received to proceed with commercial development of the 200,000 barrels per day Sunrise Oil Sands Project in northern Alberta.
Construction started on 130 million litres per year ethanol plant at Minnedosa, Manitoba.
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Husky achieves 140,000 barrels per day from White Rose.
Husky announces a significant gas discovery in the South China Sea.
The Company now has a total of 510,890 acres of oil sands leases with a total of 40,860 million barrels of original bitumen in place.
Husky completes the Tucker Oil Sands Project on-schedule and under budget.
Husky's ethanol plant at Lloydminster, Saskatchewan is completed and commissioned.
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Husky acquires a 160,000 barrel per day light oil refinery in Lima, Ohio for $1.9 billion U.S. plus working capital.
Signed agreement in principle with BP for 50/50 partnership to develop Sunrise and upgrade BP’s Toledo, Ohio refinery.
Completed FEED and preliminary site work for the Sunrise Oil Sands Project.
Husky finalized fiscal terms for White Rose Satellite developments.
Husky’s ethanol plant at Minnedosa, Manitoba is completed and commissioned.
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