CALGARY — Husky Energy Inc. said Wednesday it is on the hunt for a partner to help speed up development of some of its natural gas liquids-rich land in Alberta.
The Calgary-based company has properties in the Ansell region of the Cardium formation, a strip of petroleum-rich rock that winds through west-Central Alberta. Ansell contains liquids-rich gas, which currently sells for a much better price than ordinary dry gas. The liquids, used in the plastics and petrochemical industries, more closely track oil prices, which have been robust in recent months. Earlier Wednesday, Husky (TSX:HSE) said its second-quarter profits nearly quadrupled thanks to higher production. Output increased despite problems posed by pipelines outages and forest fires.