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Husky acquires western Canadian properties from ExxonMobil for Cdn$860 million

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29 November 2010

Husky acquires western Canadian properties from ExxonMobil for Cdn$860 million

Report summary

Husky Energy is to acquire a package of assets in Alberta and northeast British Columbia from ExxonMobil for Cdn$860 million (US$837 million). The assets will provide 21,900 boe/d of gas-weighted production. Our base case valuation of the acquired properties is US$911 million. This equates to an implied long-term gas price of US$6.25/mcfe. In reality, Husky has probably factored in a lower breakeven gas price on the assumption that it can improve deal economics by increasing ultimate ...

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
    • Upsides
      • Recent fiscal changes could be favourable
    • Risks
      • Uncertainty remains in the North American gas market
      • Cost control remains key
    • Husky Energy
    • ExxonMobil
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 6 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Husky acquires western Canadian properties from ExxonMobil for Cdn$860 million

    PDF 332.60 KB

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