Husky Energy

Americas

Deal with Li Ka-shing gives Canadian oil giant a Biden hedge

Cenovus Energy Inc. is getting more than just a rival Canadian oil producer with its acquisition of Husky Energy Inc. It’s also shoring up its defenses against an anti-oil sands movement that could get a boost if Joe Biden is elected as the next president of the U.S.

Americas

Cenovus to create Canada oil giant with $2.9bn Husky deal

Cenovus Energy Inc. agreed to buy Husky Energy Inc. in a C$3.8 billion ($2.9 billion) all-stock deal that will combine two of the largest players in Canada’s beleaguered oil-sands industry, which is struggling after the slump in crude prices.

Oil & Gas

Husky Energy budgets for $40 oil in 2016

Husky Energy said it plans to keep its budget in the next year unchanged from 2015 and is planning for $40 per barrel of oil. The company said it would spend $2.9billion to $3.1billion in 2016 in comparison with $3billion this year. Husky also plans to sell some of its midstream assets in western Canada as it looks to strengthen its balance sheet.