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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Husky Energy Inc.    HSE   CA4480551031

HUSKY ENERGY INC. (HSE)
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Husky Energy : taking steps to resume SeaRose operations two months after oil spill

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01/12/2019 | 04:02pm EST

ST. JOHN'S, N.L. — A Canadian oil and gas company says it's working to reassure regulators that they can resume safe operations, two months after a massive oil spill at one of their offshore oil production sites.

Work at the site of Husky Energy's SeaRose production vessel has been halted since an estimated 250,000 litres of oil spilled into the ocean on Nov. 16 at the White Rose oilfield, about 350 kilometres off the coast of St. John's, N.L.

In a release on Friday, Husky says the company could begin flushing and leak testing of the central drill centre as early as this weekend, weather depending.

Husky says it's working with the coast guard, the Canada-Newfoundland and Labrador Offshore Petroleum Board, and other bodies to finalize a plan to recover the platform's flowline connector and plug the flowline.

The company submitted a preliminary report to the board in December, saying the initial release of oil occurred over 20 minutes when crews were troubleshooting a drop in flowline pressure, and a retest led to a second release lasting about 15 minutes.

The spill, considered the largest in Newfoundland and Labrador's history, has renewed calls for the government to take a fresh look at how the province regulates the offshore industry.

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (CAD)
Sales 2018 22 728 M
EBIT 2018 1 759 M
Net income 2018 1 575 M
Debt 2018 2 688 M
Yield 2018 2,59%
P/E ratio 2018 9,68
P/E ratio 2019 12,21
EV / Sales 2018 0,77x
EV / Sales 2019 0,83x
Capitalization 14 886 M
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Mean consensus HOLD
Number of Analysts 19
Average target price 19,9  CAD
Spread / Average Target 34%
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NameTitle
Robert J. Peabody President, Chief Executive Officer & Director
Tzar Kuoi Li Co-Chairman
Kin Ning Fok Co-Chairman
Robert W. Symonds Chief Operating Officer
Jeff Hart Chief Financial Officer & Controller
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