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

Is Husky buying Athabasca Oil ?

[ManitobaCanuck]

Below is from Husky website. No brainer for them to buy. Would be shocked if they don't make an offer in next couple of weeks.

 

REDUCING EXPOSURE TO THE DREADED HEAVY OIL DISCOUNT

Heavy oil processing capacity at the company's refineries is also expected to rise from the current 190,000 bbl/day to 220,000 bbl/day over the next five years. The increase will push Husky's total heavy oil processing capacity from 48% to 55%, and reduce exposure to the Canadian heavy oil discount. 

 

Lima Refinery

The Husky Lima Refinery, located in Lima, Ohio in the U.S Midwest, processes light crude oil. A crude oil flexibility project underway is expected to increase heavy oil processing capacity to 40,000 bbls/day by the end of 2019. The refinery currently can process about 10,000 bbls/day of heavy crude.

 

 

Read more at https://stockhouse.com/companies/bullboard/t.ath/athabasca-oil-sands-corp#66fHtzbXEbRux5o8.99

[onec007]

Pump your garbage as where. Husky does quite well with widening differentials which shows that you know nothing about hse business... Ignore

[retirement55]

I think that Husky could for sure take over Athabasca. While I think MEG would give them scope and size (adding 25% of Husky production), Athabasca gives them a good deal. If you take Athabasca buyout at $525M ($1/share) or 100% premium it looks pretty good to almost any existing shareholder to redeploy to any other undervalued oil and gas company.  From the debt side, their cash $325M

[firstworld]

That offer is over. LKS never goes back even for tier 1 assets in first world countries. They shoud buy the debt and call it, drive to bankruptcy and buy for pennies.

[ManitobaCanuck]

Are they already doing it, someone bought the debt and shorted the stock to drive them to bankruptcy  . ATH is down  significantly and struggling to keep up stock price ,now coming up with a NCIB  .  One possible impediment to this strategy is , Norwegian StatOil with a 20% interest in  Athabasca Oil .   StatOil  market cap of 50billion vs 5 billion for Husky

[firstworld]

Equinor would not even blink to write it off...just another poor decision from the boom times, like us shale, to exit from. These plays would never get sanctioned after 2015. HSE is in a perfect situation. Fully integrated don't need pipelines, and building cash pile for when the blood really starts to flow in 2022.

[ManitobaCanuck]

Bought this and Athabasca both, ATH is up 35% since i bought and Husky is up 15% .Time to book some profits in both

[EstevanOutsider]

They are certainly not going to buy Athabasca Oil in the coming two weeks.  The "rumor" is made on the Athabasca Oil Corp bull board.  The time will come when aquisitions are cool again but that will come after more certainy with Transmountain pipeline and Line 3, which will be greatly beneficial to Athabaca's Leismer and Hangingstone assets.  KeystoneXL would do

[ManitobaCanuck]

What more certainty do you want on the oil pipelines . Line 3 is but approved in Minnesota ,environmental licesing cleared up .  TMX has been challenged in appeals court, I have been seeing the hearing online . The Feds have great arguments against the grievances made by TWN/ First Nations . Few of the bands  appealing have dropped out and signed a deal with Enbridge . It looks like a

[firstworld]

Meaningless. There are a 1000 lawyers who want to build a CV they will tie this stuff up and block at all levels for another decade. If that fails along the way the First Nation Mafia will physically block and obstruct till they het their cut feom govt or cos. Govt too weak to send in military or arrest them all for extortion. NO one banking on anything. When they send the military in to clear the

[autofocus111]

@firstworld Not a chance L3RP or TMX get tied up for another decade. If the Canada Federal Court of Appeal throws a decision in favour of the proponent TMX, it's all but certain the SC will reject to hear any FN appeal the decision. If the Fed Court rules in FN favour, Canada will do a final repeat of expedited consultations, and any new appeal to the Federal Appeals court on grounds of '

[onec007]

Seriously you think 3 pipelines? Dream on.... I just see 1.  Just look at  how much fight just to get this one approved. I would love to see Energy East get built so we can rid ourselves from Saudi oil 

[autofocus111]

@one I have been following developments in all three projects very closely, and yes, I believe all three will receive final approval and be constructed. Very long odds (pretty much ziltch I think) we ever see EE resurrected.... there was a slim chance if the Cons got elected but you can forget that.

[firstworld]

There are endless legal obstacles they can come up with. In the end alll it takes is 20-30 FN Mafia to set up a tent in the path at a few locations with cameras rolling. They will not be beaten and gassed out like they do to other protesters like at G8 and elsewhere. Meanwhile, Equinor, who wisely existed most of Canada, is starting production of the biggest N. Sea o filed in 30 years with 450K

[spacegimp]

gotta love those hypocrite norwegians with their deep sea oil  , hopefully kenny's war room takes aim at that bunch 

[firstworld]

Capital flows to the highest return and lowest risk. SEquinor had no issues getting permits, pipelines or customers and it's so profitable they can do everything by costly helicopter and sea in an extremely dangerous year round environment. Kenny can start by terminating half the government, and turning off the taps to all Canadians for a month at a time. There's no one else to leave now

[weedstocks488]

This post has been removed in accordance with Community Policy

[firstworld]

Now the BC human rights commissioner is asking for federal stop order and FN Mafia felling trees and laying traps on access roads.