Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

RE:RE:RE:RE:Husky Energy cuts 2020 budget by $1-billion

[onec007]

I find solace from this board well at least from some the people. I'm down HUGE not going to sugar coat it. I re-entered back in January so you can figure out what my average cost is and trust me this past month has been trying times (understatement). I thought about selling and taking a huge loss basically wiping out my entire savings but then the rational side of me keeps asking why did I buy into Husky to begin with. I find solace in the fact that it's not just the oil sector that is down huge. If you check the cruise lines all big three players are down to 15+ year lows (RCL and CCL). BA, DIS are down. Will they all go bankrupt? No! People will eventually travel again and normalcy will resurface. Will the Coronavirus get sorted out ? Yes, it will! Just like the Swine Flu which, by the way, infected over 60 mil Americans. It will take some time but it too will pass. It's too early to say but it might have peaked in China and Korea where it first started. Oil war wise well ... OPEC never wanted this to begin with it - it was the Russians. They've boosted their sovereign funds during high prices I doubt they will just let this go on indefinitely. So back to North American oil market... Yes, there will be bankruptcies and I agree that many shale producers simply were piling on debt just to produce which is evident by no cashflow and earnings. And some just borrowed money and paid at the height of the recent oil price i.e Occidental Petroleum $38 billion buyout of Anadarko. Junior players that are niche oilsand players too will go bust as they do not have the ability to weather the storm. Service companies like Precision Drilling will be questionable whether it will survive as well. The oil market had too many small players to begin with and I think this will weed out many of them. Where does that leave us? Consolidation, less players and only the stronger players remain. The heavy integrated companies in the US will survive (Exxon, Chevron, Conoco) and in Canada it will be (SU, CNQ, IMO and HSE possibly CVE). It will probably get ugly before it gets better but so too will the recovery in oil prices.