Topic: How To Invest

Pat: What is your recommendation on Husky Energy? Thank you.

Article Excerpt

Husky Energy, $30.95, symbol HSE on Toronto (Shares outstanding: 849.9 million; Market cap: $26.3 billion), is an integrated oil and gas company. Hong Kong-based billionaire Li Ka-Shing owns 70.6% of the company’s shares. Husky produces conventional oil and gas across western Canada, as well as heavy oil (a heavy, black viscous oil) at Lloydminster, Saskatchewan, and from the oil sands at Tucker, Alberta. Husky also has major holdings in eastern Canada, including interests in Newfoundland’s Terra Nova and White Rose oil fields. Overseas, Husky produces light oil and natural-gas liquids in the South China Sea, and has exploration properties off the coast of Indonesia. These holdings include 100% of the huge Liwan natural-gas discovery, and an offshore field southeast of Hong Kong that could contain as much as six trillion cubic feet of natural gas. Husky also owns part of the Wenchang oil field in the South China Sea and the Madura BD gas development in Indonesia’s Madura Strait. Apart from its…