HUSKY ENERGY - Net earnings were $545 million, a 300 percent increase compared to $136 million in Q3 2017. Net debt at the end of the quarter was lowered to $2.6 billion.

BLOOMBERG - MEG Energy Corp. said Wednesday it had rejected a C$3 billion ($2.3 billion) hostile takeover by Husky Energy Inc. and plans to launch a strategic review with an eye to finding another buyer.

"It is evident that the global oil dynamic has experienced a fundamental shift, driven by the resilience in supply," said CEO Asim Ghosh. "Back in 2010, we made the decision to stay diversified, integrated and begin a transition into a low sustaining capital business. In a lower for longer world, our low sustaining capital projects in the Asia Pacific Region, oil sands, heavy oil thermals and Downstream margin business have become even more strategic.

Husky Energy profit rises as production increases