Quantcast
Last updated on April 17, 2014 at 21:23 EDT

Husky Energy Q3 Net Earnings Up 65%

October 22, 2008

Husky Energy, an integrated energy company, has reported net earnings of C$1.27 billion or C$1.50 per diluted share for the third quarter of 2008, a 65% increase, compared to C$769 million or C$0.91 per diluted share for the same quarter of 2007.

Sales and operating revenues, net of royalties, were C$7.7 billion in the third quarter of 2008, a 77% increase, compared to C$4.4 billion in the same quarter of 2007.

In the third quarter of 2008, total production averaged 355,900 barrels of oil equivalent per day (boepd), compared with 369,900boepd in the third quarter of 2007.

Total crude oil and natural gas liquids production was 256,200 barrels per day (bopd), compared with 266,500bopd in 2007. Natural gas production was 598 million cubic feet per day (Mcfd), compared with 620Mcfd in the same period of 2007.

For the first nine months of 2008, Husky’s net earnings were C$3.5 billion or C$4.15 per diluted share, compared to C$2.1 billion or C$2.52 per diluted share in the same period of 2007. Sales and operating revenues, net of royalties, were C$20 billion in the first nine months of 2008, compared with C$10.8 billion in the same period of 2007.

Production for the first nine months of 2008 was 355,100boepd, compared with 379,600boepd in the same period in 2007. Crude oil and natural gas liquids production was 254,700bopd, compared with 275,400bopd in the first nine months of 2007. Natural gas production was 602Mcfd per day as compared with 625Mcfd during the same period of 2007.