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
2022, January, 26, 12:19:00
TRANSPORTATION OIL AND GAS CONGRESS, 21th-22th of February, 2022
Business and Technical Views On The Market At The Transportation Oil and Gas Congress 2022
HUSKY NET LOSS C$4.1 BLN
2022, January, 26, 12:18:00
ГИДРОЭНЕРГЕТИКА ЦЕНТРАЛЬНАЯ АЗИЯ И КАСПИЙ 2022
Инвестиционные проекты строительства и модернизации будут представлены на международном конгрессе и выставке «Гидроэнергетика Центральная Азия и Каспий 2022»
HUSKY NET LOSS C$4.1 BLN
2022, January, 26, 12:15:00
HYDROPOWER FOR ECUADOR 2.4 GW $6.7 BLN
The Santiago project would comprise eight power generation units, with 304.10 MW Francis-type turbines and would require US$3bn of private investments for a total budget of US$6.7bn.
HUSKY NET LOSS C$4.1 BLN
2022, January, 25, 13:10:00
OIL PRICE: NOT ABOVE $88
Brent rose 61 cents, or 0.7%, to $86.88 a barrel, WTI climbed 44 cents, or 0.5%, to $83.75 a barrel.
HUSKY NET LOSS C$4.1 BLN
2022, January, 25, 13:05:00
RUSSIAN SMR NUCLEAR
Small Modular Reactors Day was an international platform for discussing the benefits of Small Modular Reactors, the prospects for their development and how this technology can be applied around the world.
HUSKY NET LOSS C$4.1 BLN
2022, January, 25, 13:00:00
U.S. NUCLEAR FOR POLAND
The MoUs - signed in both Gdańsk and Westinghouse's office in Warsaw - include cooperation on the possible construction of six AP1000 plants for the Polish nuclear power plant programme.
HUSKY NET LOSS C$4.1 BLN
2022, January, 25, 12:55:00
SPAIN ENERGY PRICES UP
Energy costs drove most of the increase, with a 95.9% jump in December from a year earlier,
All Publications »