Husky Energy reports $328M first-quarter profit, up from $249M a year ago

CALGARY — Husky Energy Inc. says it earned $328 million in its latest quarter, up from $248 million a year ago.

The company says the profit amounted to 32 cents per share for the three months ended March 31 compared with a profit of 24 cents per share a year earlier.

Production in the quarter averaged 285,200 barrels of oil equivalent per day, down from 300,400 in the same quarter last year.

Husky says the decline came due to the mandated Alberta government production cuts and the ramp-up of operations at the White Rose field off the cost of Newfoundland, where production resumed at the end of January after an oil spill that suspended operations.

Production in the Atlantic region averaged 7,600 barrels per day compared with 28,400 a year ago.

Husky says its average realized price was $47.20 per barrel of oil equivalent, up from $40.87 in the year-ago period.

Companies in this story: (TSX:HSE)

The Canadian Press
 

 

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