UPDATE 1-Husky Energy Q4 profit up on firmer oil prices

* Q4 EPS C$0.38 vs C$0.27 year-earlier

* Oil and gas production down 18.7 pct

CALGARY, Alberta/NEW YORK, Feb 3 (BestGrowthStock) – Husky Energy
Inc (HSE.TO: ), Canada’s No.3 integrated oil producer and
controlled by Hong Kong billionaire Li Ka-shing, said its
fourth-quarter profit (Read more your timing to make a profit.) rose as oil prices strengthened,

Husky reported net income of C$320 million, or $0.38
Canadian cents per share, up from C$231 million, or $0.27
Canadian cents, a year earlier.

Cash flow, an indicator of the company’s ability to fund
new projects, nearly doubled to C$657 million, or C$0.77 per
share.

Husky, known for its extensive Canadian heavy oil holdings,
offshore oil projects and refinery interests in Ohio, said last
month that it and partner BP Plc (BP.L: ) were ready to go ahead
with the first 60,000 barrel per day phase of their Sunshine
oil sands project at a cost of C$2.5 billion.

The company’s oil and gas production averaged 291,500
barrels of oil equivalent per day during the quarter, down 18.7
percent.

Husky said it would pay a quarterly dividend of C$0.30.

During the quarter, benchmark oil prices averaged $76.13
per barrel, up 29 percent from the year-prior quarter.

Husky shares fell 19 Canadian cents to C$26.94 on Wednesday
on the Toronto Stock Exchange.
($1=$1.06 Canadian)

Stock Market Research

(Reporting by Scott Haggett and Clare Baldwin, Editing by Ian
Geoghegan)

UPDATE 1-Husky Energy Q4 profit up on firmer oil prices