- Husky Energy
company_name = Husky Energy Inc.
foundation = 1938 as Husky Refining Company
location = flagicon|Canada
Calgary, Alberta, Canada
John C.S. Lau, President & CEO Li Ka-shing, Owner
industry = basic materials / oil and gas exploration
cite web |url=http://zenobank.com/index.php?symbol=CA;HSE&page=quotesearch |title=Company Profile for Husky Energy Inc (CA;HSE) |accessdate=2008-10-08]
num_employees = 4,000
petroleum, natural gas, asphalt
revenue = $12.664 billion [Cdn] - (2006)
homepage = [http://www.huskyenergy.ca/ www.huskyenergy.ca]
Husky Energy Inc. (TSX|HSE) is a large integrated
energycompany based in Calgary, Alberta, Canadain Western Canadian Place. Primarily focusing on petroleumand natural gas, Husky employs over 3800 people (as of 2006), has almost $18 billion in assets, and produces an average of convert|385000|oilbbl|m3 of oil equivalent per day (projected average low end for 2008), making it one of Canada's largest energy companies. Aside from the Husky brand, Mohawk Gasolineis the next primary brand used. It conducts operations primarily in the United States, Canada, and China. A majority stake in Husky Energy is owned by Hong Kongbillionaire Li Ka-shingand his holding company Hutchison Whampoa.
Assets and holdings
Husky Energy has proven petroleum reserves of convert|430|Moilbbl|m3 and convert|2|Tcuft|km3 of natural gas, most of it in western Canada. It owns approximately 500
filling stations in Canada and operates the Lloydminster Heavy Oil Upgrader. Husky holds property and/or mineral rights to some 6.67 million acres (27,000 km²) in western Canada.
Husky holds extensive offshore properties. It is the operator of the White Rose project and partner in the Terra Nova project in the
Jeanne d'Arc Basinoff Newfoundland The company also owns a 40% interest in the Wenchang project, which expects to derive as much as convert|92|Moilbbl|m3 of oil from a field located near the mouth of the Pearl River. The remaining sixty percent of the project is owned by the Chinese National Offshore Oil Corporation (CNOOC). Interests have also been acquired in two fields located off the coast of Madura, Indonesia. In terms of refined products facilities, Husky owns and operates light oil refineries at Prince George, British Columbiaand Lima, Ohio; an asphaltrefinery at Lloydminster, Alberta/Saskatchewan; an ethanolplant at Lloydminster; and another at Minnedosa, Manitoba.
A substantial portion of Husky's property and operations base comes from its acquisition of
Renaissance Energy. In 2003 it also purchased the Canadian unit of the American-based Marathon Oil Corporation.
publicly tradedCanadian company with global interests, Husky Energy was originally founded in 1938 in Cody, Wyoming, United States, as the Husky Refining Company. The first refinery was built in Cody, with a second constructed later in Riverton, Wyoming. In 1946 the Riverton refinery was moved to Lloydminster, Alberta, Canada, to take advantage of the expanding asphalt and heavy oil opportunities in the area. A wholly owned subsidiary, Husky Oil and Refining Ltd., was created and headquartered in Calgary, Alberta, Canada. The Cody refinery continued operations well into the 1970s, producing primarily asphalt. In the late 1980s and early 1990s, there were periodic rumors floating around Cody that the refinery would be reopened by a variety of different companies. One of the more persistent rumors was the impending purchase and reactivation of the refinery by Flying J.Fact|date=August 2008 This never happened, however, and the entire refinery was finally razed in the late 1990s.
Husky Energy's operations are divided into three categories: Upstream, Midstream, and Refined Products.
The Upstream division focuses on oil and gas exploration and extraction. The division's primary projects include mineral extraction from
oil sands, and offshore drilling at the White Rose and Wenchang sites.
Because some 80% of Alberta's oil sands are too far below the surface for standard mining and drilling precedures to access, Husky plans to use "steam assisted gravity drainage technology", by which bitumen will be raised closer to the surface through high temperatures. After the bitumen is recovered, it will be subjected to a process by which useful oil will be extracted. The company's Tucker Thermal Project is expected to begin producing in late 2006 and over 35 years it is estimated it will recover some convert|352|Moilbbl|m3 of bitumen. A second endeavor, the Sunrise Thermal Project, may produce convert|3.2|Goilbbl|m3.
Costing 2.35 billion Canadian dollars and starting operation in November 2005, the White Rose project (located off Newfoundland) is anticipated to recover over convert|600|Moilbbl|m3 of oil. Another offshore project, Wenchang, located off China's Pearl River and run jointly with the CNOOC produced an average of convert|12100|oilbbl/d|m3/d in 2006.Fact|date=June 2008
Husky's Midstream division engages in activities such as oil upgrading, pipeline systems, commodity marketing, electricity
cogeneration, oil and gas storage, and processing.
Currently, Husky markets about convert|300000|oilbbl|m3 of oil per day and uses another convert|145000|oilbbl|m3 in refining and processing. A total of convert|500000|oilbbl/d|m3/d are managed overall. The company manages convert|1.8|Gcuft|m3 per day of natural gas and transports it along sixteen pipelines.
Husky Energy uses
ethanolinstead of MTBEin its gasoline products.
Current members of the
board of directorsof Husky Energy are: Canning Fok, Donald Fullerton, Martin Glynn, Terence Hui, Brent Kinney, Holger Kluge, Poh Chan Koh, Eva Kwok, Stanley Kwok, John Lau, Victor Li, Wayne Shaw, William Shurniak, and Frank Sixt. Tommy Douglasserved as a director of Husky Oil after his retirement from politics.
* [http://www.huskyenergy.ca Husky Energy]
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