Husky's Integration Pays Off
Husky Energy reported fourth-quarter results that missed our expectations, and the stock is down almost 4% on the news. Despite a favorable refining environment, no-moat Husky Energy reported fourth-quarter free cash flow of negative CAD 682 million. This compares negatively with free cash flow of CAD 350 in the third quarter and CAD 269 in the prior-year period. The fourth-quarter results were also below our already-low expectations of CAD 40 million. The disappointing results were driven by lo...Husky Energy is engaged in the exploration, development and production of oil and natural gas. Co.'s operations are located in Canada and United States. As of Dec. 31, 2011, Co. had total proved oil and natural gas reserves of 1,172.4 million barrels of oil equivalent (Mmboe) gross (1,010.7 Mmboe net).
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