RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2015-11-03 19:10:00

HUSKY NET LOSS C$4.1 BLN

HUSKY NET LOSS C$4.1 BLN

 

HUSKY ENERGY 3Q 2015 RESULTS

 

While Husky Energy (TSX: HSE) continues to make progress implementing cost reductions and efficiencies across its operations, it is taking further action to fortify its business in an extended low oil price environment.

"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.

"With our underlying strategy that has stood the test of five years and the decisive steps we are taking, Husky will come out of this cycle with an even stronger, more resilient business that will grow profitably at $40 US WTI oil and $3 Cdn AECO gas," added Ghosh. "We are fortifying the business for today and for the long term."

Fortifying the Business for the Long Term

Husky has taken a number of actions in response to the prolonged low oil price environment and continues to focus on maximizing the margin captured from every barrel produced.

To strengthen the business and the balance sheet for the long term, several parameters have been established. The business planning assumption for the next two years is $40 US per barrel WTI oil price and $3 Cdn per thousand cubic feet (mcf) AECO gas.

In addition, the Company intends to maintain a strong investment-grade credit rating, with no new net debt anticipated.

Based on these parameters, Husky expects to be able to support its sustaining, maintenance and growth capital requirements, further strengthen the balance sheet, be profitable and generate solid returns.

Several initiatives are being implemented in support of the business plan.

huskyenergy.com

-----

More: 

2015: DROP E&P SPENDING 

HUSKY RISES 4%

 

 

Tags: HUSKY, ENERGY
Chronicle:
HUSKY NET LOSS C$4.1 BLN
2021, June, 25, 12:24:00
HYDROGEN RUSSIA AND CIS, Moscow, 20-21 October 2021
International Conference and Exhibition ‘Hydrogen Russia and CIS’ brings together more than 200 senior executives of hydrogen production plants from Russia and the CIS
HUSKY NET LOSS C$4.1 BLN
2021, June, 25, 12:23:00
ПЕРСПЕКТИВЫ РАЗВИТИЯ И МОДЕРНИЗАЦИЯ УГОЛЬНЫХ ПРЕДПРИЯТИЙ РОССИИ
Восток Капитал приглашает Вас принять участие в бесплатном вебинаре в рамках подготовки к международной конференции и выставке «Уголь Россия и СНГ» на тему: «Перспективы развития и модернизация угольных предприятий России», который состоится 16 июля, 13:00 (МСК).
HUSKY NET LOSS C$4.1 BLN
2021, June, 25, 12:20:00
U.S. COAL PRODUCTION UPDOWN
Through 24 weeks, US output was approximately 279 million st, up 8.9% compared with the year-ago period. It is annualized to be 581 million st for the year, up 8.7% from the previous year.
HUSKY NET LOSS C$4.1 BLN
2021, June, 24, 12:20:00
OIL PRICE: NOT ABOVE $76 ANEW
Brent rose 30 cents, or 0.4%, to $75.49 a barrel, WTI climbed 31 cents, or 0.4%, to $73.39 a barrel.
HUSKY NET LOSS C$4.1 BLN
2021, June, 24, 12:15:00
U.S. LNG DEMAND UP
Wide spreads between the price of LNG in end-user markets in Asia and Europe and feedgas prices based on the US Henry Hub have been incentivizing robust export activity from the US Gulf and Atlantic coasts.
HUSKY NET LOSS C$4.1 BLN
2021, June, 24, 12:10:00
CHINA NEED COAL
A conservative estimate would be for coal consumption of around one billion metric tonnes in 2050, still contributing 10%-15% of China's total energy consumption
HUSKY NET LOSS C$4.1 BLN
2021, June, 24, 12:05:00
CHINA COAL PRICES UP
The most-traded coking coal futures contract on the Dalian Commodity Exchange , for September delivery, ended at 2,037 yuan ($314.24) per tonne.
All Publications »