Husky is one of Canada’s largest integrated energy companies. It is based in Calgary, Alberta and its common shares are publicly traded on the Toronto Stock Exchange under the symbol HSE.
The Company operates in Canada, the United States and the Asia Pacific Region, with Upstream and Downstream business segments.
Annual production in 2015 averaged 346,000 barrels of oil equivalent per day (boe/day), with cash flow from operations of $3.3 billion. Earnings were a net loss of approximately $3.8 billion, including an after-tax impairment and a write-down related to legacy oil and natural gas assets in Western Canada. Adjusted net earnings were $165 million.
Higher Quality Production
Since 2010, Husky has been transforming into a low sustaining capital business with an increasing focus on higher quality production that requires less sustaining and maintenance capital, while providing improved margins and reduced cash flow variability. By the end of 2016, more than 40 percent of Husky’s production will come from these types of projects.