Husky buys heavy oil properties in Lloydminster area

Husky Energy Inc. (TSX:HSE) said Monday it has bought a group of heavy oil properties in the Lloydminster area between Alberta and Saskatchewan for an undisclosed price. The assets being sold by Penn West Energy Trust (TSX:PWT.UN) add more than 6,000 barrels of oil production per day, 12 million barrels of oil proven reserves and 8.5 million barrels of oil probable reserves.

Husky Energy Inc. (TSX:HSE) said Monday it has bought a group of heavy oil properties in the Lloydminster area between Alberta and Saskatchewan for an undisclosed price.

The assets being sold by Penn West Energy Trust (TSX:PWT.UN) add more than 6,000 barrels of oil production per day, 12 million barrels of oil proven reserves and 8.5 million barrels of oil probable reserves.

Husky also acquired 26 sections of undeveloped land with the purchase, and has identified more than 70 drilling locations and 235 recompletion and startup opportunities.

“Husky has a long history as a heavy oil producer in the Lloydminster area and these assets, of course, will complement our strong position within this area,” said Husky spokeswoman Sharon Murphy. The financial terms of the deal are not being made public, she said.

Just Posted

Windows smashed at three Red Deer businesses

Red Deer RCMP arrest man after vandalism spree

Schizophrenia a misunderstood illness, an Alberta expert says

Schizophrenia Society of Alberta campaign kickoff features TSN’s Michael Landsberg in Central Alberta

WATCH: Collecting coats and donations from drivers in Red Deer

Central Albertans made donations to keep children warm and neighbourhoods safe from… Continue reading

PHOTO: Fall Harvest Festival in Red Deer’s West Park

The West Park Community Association hosted the Fall Harvest Festival near West… Continue reading

Man dies in Hwy 2 collision near Ponoka

A 46-year-old man is dead following a three-vehicle collision on Hwy 2… Continue reading

WATCH: Blackfalds Fire teaches families about fire safety

An open house was held Saturday in support of Fire Prevention Week

Canada gets into Women’s World Cup with 7-0 win over Panama

FRISCO, Texas — Christine Sinclair isn’t concerned about chasing records. She’s set… Continue reading

Baldwin urges ‘overthrow’ of Trump government via voting

MANCHESTER, N.H. — Actor Alec Baldwin followed up his latest parody portrayal… Continue reading

Prince Harry and Meghan expecting their 1st child in spring

CANBERRA, Australia — Prince Harry and his wife, the Duchess of Sussex,… Continue reading

Sears files for Chapter 11 amid plunging sales, massive debt

NEW YORK — Sears filed for Chapter 11 bankruptcy protection Monday, buckling… Continue reading

Doctors to debate medical pot as more patients expected to ask for prescriptions

VANCOUVER — Doctors with opposing views on whether medical marijuana should be… Continue reading

Halifax smoking ban begins today; city announces several new smoking areas

Halifax’s sweeping smoking ban begins today, two days before recreational cannabis is… Continue reading

Canadians widely unaware of accomplishments of famous women, poll suggests

TORONTO — The organization behind Canada’s Heritage Minutes says provincial education systems… Continue reading

Five things about what’s legal and what’s not in Canada’s new pot law

OTTAWA — Canada’s new law legalizing recreational cannabis goes into force on… Continue reading

Most Read