Husky Energy

Foundation - Heavy Oil and Western Canada

Husky's historic foundation is in Heavy Oil and Western Canada.

The Company is rejuvenating its Heavy Oil business with an increased focus on thermal technologies and horizontal wells to tap into the significant resource in place.

In Western Canada, the Company is pursuing oil and liquids-rich gas resource plays to further unlock value from its extensive land position of more than two million acres.

Growth Pillars

The Company's foundation in Heavy Oil and Western Canada supports major growth opportunities in the Asia Pacific Region, the Oil Sands and the Atlantic Region.

Asia Pacific Region

The Asia Pacific Region is a major growth area for Husky. Its focus is on the producing Liwan Gas Project in the South China Sea and to further progress opportunities offshore Indonesia.

Oil Sands

Husky has a portfolio of oil sands leases which include its Sunrise Energy Project, Tucker and other properties in its emerging oil sands portfolio. Sunrise is a premier, in-situ oil sands development in northeastern Alberta that marks the beginning of a new era for the Company in developing this increasingly important source of energy.

Atlantic Region

The Atlantic Region is a core development area for Husky. In the Jeanne d'Arc Basin it has a 72.5 percent working interest in the White Rose field and a 68.75 percent working interest in the satellite South and West White Rose fields and North Amethyst. Husky has a 35 percent working interest in three Flemish Pass Basin discoveries: Bay du Nord, Mizzen and Harpoon. The Company also has a 13 percent working interest in the partner-operated Terra Nova field.

Downstream

The Company's focused integration strategy helps capture world pricing for its Western Canada heavy oil, bitumen and light oil production and assists in mitigating market volatility.

Downstream operations target three primary objectives: increasing feedstock flexibility to bring the best-priced crude to the Company's refineries, improving product flexibility in the range of its products to capitalize on opportunities and enhancing market access to achieve the best returns.

Retail Marketing

Husky's retail distribution network includes the wholesale, commercial and retail marketing of refined petroleum products and provides income from non-fuel related revenues through Husky's convenience store, restaurant and car wash operations.

Safety Performance

The Company's focus on safety helps to protect the public, its employees, the environment and its assets while providing for efficient and productive operations.

Along with its rigorous occupational safety programs, the Company is driving continuous improvement in process safety.

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