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39

Husky to buy ExxonMobil Canada properties

Husky Energy Inc. agreed to buy oil and natural gas properties in Alberta and northeast British Columbia from ExxonMobil Canada Ltd. for $860 million (Can.)

The acquisition will add 21,900 boe/d of production and 113 million boe of proved and probable reserves, Husky estimates. The transaction involves 16,300 boe/d of gas production, 4,800 b/d of oil production and 800 b/d of NGLs, Husky said. 
Husky’s reserve estimate is 104 million boe of proved and 9 million boe of probable reserves, based on an effective date of Dec. 1. The agreement is subject to regulatory approvals and final closing. 
The company also raised its 2011 capital budget by more than 20% to $4.86 billion. 
"The increased capital expenditures in late 2010 and early 2011 will begin to contribute to production in late 2011," Husky said.

Source : Oil&Gas Journal