Husky Still Profitable — But Not As Much
CBJ — The good news for Husky Energy is that it had another profitable fourth quarter. The bad news is the profit dropped by a whopping $456 million compared with the same three month period the year earlier.
This year’s fourth-quarter profit was $216 million, down significantly from $672 million in 2017 due mainly to lower synthetic crude oil prices.
The decline also ran in parallel to the company’s decision to suspend operations at its SeaRose production facility following an oil spill in November at the White Rose oilfield, about 350km off the coast of Newfoundland.