Assets and holdings
At 2015 year-end, Husky Energy had total proved reserves before royalties of 1.3 billion boe and probable reserves of 1.6 billion boe. In 2015 its reserves replacement ratio was 166% (136% including economic factors), reflecting new additions from heavy oil thermal projects, the Sunrise Energy Project, the Liwan Gas Project and the company's natural gas fields offshore Indonesia.[17] It owns approximately 490 retail stations in Canada.[17]
Husky is the operator of the White Rose field and a partner in the Terra Nova project in the Jeanne d'Arc Basin offshore Newfoundland. The White Rose field (located offshore Newfoundland in the Jeanne d'Arc Basin) includes two production wells at South White Rose that came online in 2015. Exploration work is underway at the Bay du Nord discovery area in the Flemish Pass, with partner Statoil.
Husky also owns a 40% interest in the Wenchang project offshore China, located near the mouth of the Pearl River. The remaining 60% of the project is owned by the China National Offshore Oil Corporation (CNOOC). Husky is advancing the liquids-rich BD field offshore Indonesia, along with three additional shallow water fields.
Husky owns and operates the Lloydminster Heavy Oil Upgrader in Lloydminster, Saskatchewan, the Asphalt Refinery in Lloydminster, Alberta, and the Superior Refinery in Superior, Wisconsin. Husky also operates the Husky Lloydminster Ethanol Plant and the Minnedosa Ethanol Plant.
Husky Energy's operations are divided into two business segments: Upstream and Downstream.
The Upstream division focuses on oil and gas exploration and extraction. In addition to its existing producing assets and opportunities in Heavy Oil and Western Canada, the company has identified three pillars for growth: the Asia Pacific Region, the Oil Sands and the Atlantic Region.
Its Heavy Oil business include seven thermal developments in Saskatchewan.
The company's Western Canada portfolio includes a focus on resource plays.
In the Asia Pacific Region, Husky's Liwan Gas Project in the South China Sea began production in 2014.[17] Husky is advancing the liquids-rich BD field offshore Indonesia, along with three additional shallow water fields.[17]
Husky has a portfolio of oil sands leases, encompassing 2,500 square kilometres in the Fort McMurray region of northern Alberta. Its Sunrise Energy Project achieved first production in early 2015 and supports online applicants.[17]
Husky is using steam-assisted gravity drainage technology at Sunrise, where bitumen is heated with steam to reduce its viscosity. When the liquid becomes more fluid, it is pumped to the surface and back to the central facility.
Husky has managed the terminal operations for Western Canada Select (WCS)—one of North America's largest heavy crude oil streams— since it came on stream in 2004.[17]
Downstream
The Lloydminster Upgrader, in Lloydminster, Alberta, converts heavy oil to a high-quality, low sulphur synthetic oil.
Husky's asphalt refinery, in Lloydminster, Alberta, produces more than 30 different types and grades of road asphalt.[18]
Husky's Ethanol Plant in Minnedosa, Manitoba has been producing ethanol to be blended into gasoline since 1981. In 2007 it was expanded and produces about 130 million litres of ethanol per year.[17]
The Husky Lloydminster Ethanol Plant came online in 2006 and produces 130 million litres of ethanol per year. In Canada ethanol is blended into gasoline. Feedstock for the plant is mainly non-food feed-grade wheat purchased locally. The plant can also produce Corn ethanol.
Like other Midwest refiners, Husky was revamping its Lima, Ohio refinery to process Western Canadian Select, (WCS) a heavier but less expensive crude oil. Since 2012 "Lima has run over 60,000 bpd of Canadian crude, but only about 3,000 bpd of that would be particularly heavy with an API gravity below 30." In early January 2015, an explosion damaged the refinery's 26,000-bpd isocracker unit.
Retail operations
In December 2009, Husky acquired 98 Sunoco and Petro-Canada stations in Ontario as part of Suncor Energy's acquisition of Petro-Canada.[22]
In October 2015, Husky announced an agreement with Imperial Oil to combine its commercial cardlock network with Esso's network. As part of the agreement, all Husky cardlock locations were rebranded as Esso cardlocks in 2017, and selected retail locations—including Husky's travel centres—also switched fuel suppliers to Esso.[23][24]
In January 2019, Husky stated that it was exploring the sale of its retail network and Prince George refinery.[25]
