Image courtesy of Husky Energy.

Calgary-based Husky Energy reported second quarter net earnings of $628 million, up approximately four percent from the second quarter of 2013.

Cash flow from operations was $1.50 billion, up from $1.45 billion a year ago, the company said.

Husky’s total upstream production averaged 334,000 boe/day in the second quarter, compared to 310,000 boe/day a year ago.

The company delivered approximately 44,000 bpd during the second quarter, compared to 41,000 bdp in the first quarter and 37,500 bpd in 2013.

Husky’s heavy oil upstream production averaged 334,000 barrels of oil equivalent per day (boe/day), up eight percent from an output of 310,000 boe/day in the second quarter of 2013.

Throughputs at Husky’s downstream refineries and Lloydminster Upgrader were down to 304,000 bpd, compared to 317,000 bpd in the second quarter of 2013.

Husky also announced that its Alberta oil sands project, Sunrise Energy Project, is expected to start up later this year.

“Our continued investment in longer-wavelength projects such as heavy oil thermals, resource plays and oil sands provide steady production and more predictable cash flow to support our growth projects in the Asia Pacific and the Atlantic Regions,” said CEO Asim Ghosh.


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