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BRIEF-Husky Energy Q4 Net Earnings C$216 Mln

Published 2019-02-26, 07:22 a/m
© Reuters.  BRIEF-Husky Energy Q4 Net Earnings C$216 Mln
HSE
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Feb 26 (Reuters) - Husky Energy Inc HSE.TO :

* HUSKY ENERGY REPORTS 2018 FOURTH QUARTER AND ANNUAL RESULTS; UPDATES 2019 GUIDANCE

* Q4 NET EARNINGS WERE $216 MILLION, COMPARED TO $672 MILLION IN Q4 2017.

* QTRLY UPSTREAM PRODUCTION AVERAGED 304,300 BOE/DAY, COMPARED TO 320,400 BOE/DAY IN THE FOURTH QUARTER OF 2017

* QTRLY TOTAL EQUIVALENT PRODUCTION 304 MBOE/DAY VERSUS 320 MBOE/DAY

* QTRLY TOTAL DOWNSTREAM THROUGHPUT WAS 286,900 BBLS/DAY COMPARED TO 387,100 BBLS/DAY IN Q4 OF 2017

* NET DEBT WAS $2.9 BILLION AT QUARTER -END

* 2019 CAPITAL SPENDING ANTICIPATED TO BE IN RANGE OF $3.3-$3.5 BILLION.

* SEES AVERAGE ANNUAL PRODUCTION IN 2019 IS EXPECTED TO BE IN RANGE OF 290,000-305,000 BOE/DAY

* QTRLY BASIC FUNDS FROM OPERATIONS PER SHARE $0.58

* EXPECTS TO CONTINUE TO OPTIMIZE PORTFOLIO IN 2019

* QTRLY BASIC EARNINGS PER SHARE $0.21

* Q4 EARNINGS PER SHARE VIEW C$0.19 -- REFINITIV IBES DATA

* EXPECTS TO CONTINUE TO OPTIMIZE ITS PORTFOLIO IN 2019 WITH STRATEGIC REVIEW AND POTENTIAL SALE OF NON-CORE DOWNSTREAM ASSETS

* ANNOUNCED PLANS TO MARKET AND POTENTIALLY SELL ITS CANADIAN RETAIL AND COMMERCIAL FUELS BUSINESS AND PRINCE GEORGE REFINERY.

* NO TIMELINE HAS BEEN DETERMINED FOR CLOSURE OF ANY POTENTIAL TRANSACTIONS

* BOARD OF DIRECTORS HAS APPROVED A QUARTERLY DIVIDEND OF $0.125 PER COMMON SHARE FOR THREE-MONTH PERIOD ENDED DECEMBER 31, 2018

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