Heavy Oil & Oil Sands Headlines

Sep-26-2005
Possible $1.6 Billion Oil Sands Spinoff in 2006

In an article written by Jeffrey Jones for Reuters on July 20 of this year, it was reported that Husky Energy Inc. will decide in early 2006 if it will put its oil sands assets into a separate company estimated to be worth more than $1.6 billion.

Husky is Canada’s fifth largest oil producer and refiner.

According to the article, the company wants to first obtain regulatory approval for its Sunrise oil sands project in Alberta before making a decision.

Husky is developing two oil sands projects near Fort McMurray, Alberta, both of which will employ steam-driven production technology as opposed to mining techniques.

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