husky energy balance sheet

This article by Simply Wall St is general in nature. Deferred Income), Additional Paid-In Capital/Capital Surplus, Cumulative Translation Adjustment/Unrealized For. You should carefully consider the risk factors discussed in each of Cenovus's and Husky's management's discussion and analysis and annual information form for the year ended December 31, 2019 and management's discussion and analysis for the three months ended June 30, 2020. CREATING A RESILIENT INTEGRATED ENERGY LEADER, Track record of operational excellence, capital discipline, cost management and strong safety performance, Combination creates a resilient integrated energy leader that delivers value accretion for all shareholders, $0.0175/share (subject to Board approval), Combined business valued at $23.6 billion, inclusive of debt, Expected to close in early 2021 subject to approvals, 0.0651 warrants to acquire a Cenovus share with a 5 year term and $6.54 strike price. The factors or assumptions on which the forward-looking information is based include, but are not limited to: the satisfaction of the conditions to closing of the transaction in a timely manner and complete the arrangement on the expected terms; the combined company's ability to successfully integrate the businesses of Cenovus and Husky; accretive to shareholders in the first year of the combination excluding one-time costs of the transaction; access to sufficient capital to pursue any development plans associated with full ownership of Husky; the combined company's ability to issue securities; the impacts the transaction may have on the current credit ratings of Cenovus and Husky and the credit rating of the combined company following closing; forecast commodity prices, light-heavy crude oil price differentials and other assumptions identified in the 2020 guidance of Cenovus; the potential further ramp down for forecast production volumes based on business and market conditions; projected capital investment levels, the flexibility of capital spending plans and associated sources of funding; achievement of further cost reductions and sustainability thereof; applicable royalty regimes, including expected royalty rates; future improvements in availability of product transportation capacity; the ability of underlying pricing fundamentals to support the continuation of crude-by-rail programs; changes in transportation costs following suspension of crude-by-rail programs; increases to the combined company's share price and market capitalization over the long term; opportunity for the combined company to pay dividends, and the approval and declaration of such dividends by the board of the combined company; opportunities to repurchase shares for cancellation at prices acceptable to the combined company; funds flows, cash balances on hand and access to credit and demand facilities being sufficient to fund capital investments; foreign exchange rate, including with respect to the combined company's US$ debt and refining capital and operating expenses; realization of expected capacity to store within oil sands reservoirs barrels not yet produced, including that the combined company will be able to time production and sales of its inventory at later dates when demand has increased, pipeline and/or storage capacity has improved and crude oil differentials have narrowed; the Government of Alberta's mandatory production curtailment continuing to narrow the differential between WTI and WCS crude oil prices thereby positively impacting funds flows for the combined company; the WTI-WCS differential in Alberta remaining largely tied to the extent to which voluntary economically driven supply cuts are made, production curtailments in Alberta remain in place, the potential start-up of the Enbridge Inc.'s Line 3 Replacement Program, the completion of Trans Mountain Expansion and Keystone XL projects, and the level of crude-by-rail activity; the ability of the combined company's refining capacity, dynamic storage, existing pipeline commitments and financial hedge transactions to partially mitigate a portion of the combined company's WCS crude oil volumes against wider differentials; estimates of quantities of oil, bitumen, natural gas and liquids from properties and other sources not currently classified as proved; accounting estimates and judgments; future use and development of technology and associated expected future results; the combined company's ability to obtain necessary regulatory and partner approvals; the successful and timely implementation of capital projects or stages thereof; the ability to generate sufficient funds flow to meet current and future obligations; estimated abandonment and reclamation costs, including associated levies and regulations applicable thereto; the combined company's ability to obtain and retain qualified staff and equipment in a timely and cost-efficient manner; the combined company's ability to carry out transactions on the desired terms and within the expected timelines; forecast inflation and other assumptions inherent in the current guidance of Cenovus and Husky; expected impacts of the contingent payment to ConocoPhillips; alignment of realized WCS and WCS prices used to calculate the contingent payment to ConocoPhillips; the combined company's ability to reach net zero emissions by 2050; the combined company's ability to access and implement all technology necessary to efficiently and effectively operate its assets; and other risks and uncertainties described from time to time in the filings made by Cenovus and Husky with securities regulatory authorities. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. This additional information should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. See Advisory, Disciplined capital allocation priorities, Prioritize investment grade credit rating, Safe & reliable operations / sustaining capital, $0.07/share annualized ($0.0175/share paid quarterly), focused on full-cycle earnings and returns, Global energy supplier of choice in the transition to a lower-carbon future, Executive (and non-executive) employee compensation program linked to ESG performance. Strong Balance Sheet and Liquidity Total liquidity is $4.9 billion, comprised of $1.4 billion in cash and $3.5 billion in unused credit facilities. Netback is defined as gross sales less royalties, transportation and blending, operating expenses and production and mineral taxes divided by sales volumes. The forward-looking information in this presentation also includes financial outlooks and other forward-looking metrics (including production, financial and oil and gas related metrics) relating to Cenovus, Husky, the combined company and the transaction, including: the expectations of Cenovus and Husky regarding the impact of the transaction on free funds flow breakeven at WTI, net-debt-to-adjusted-EBITDA, deleveraging capability, the projected capital expenditures of combined company, sustaining capital, undrawn committed credit facilities, general and administrative costs, expenses per BOE and operating costs. ", consistent growth in shareholder returns (1), Committed to meaningful ESG performance targets, Proven track record of emissions intensity reductions, Note: (1) Subject to Board approval; See advisory. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Copyright © FactSet Research Systems Inc. All rights reserved. Cenovus's and Husky's netback calculation is aligned with the definition found in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook"). This presentation contains certain forward-looking statements and forward-looking information (collectively referred to as "forward-looking information") within the meaning of applicable securities legislation, including the U.S. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. This cautionary statement qualifies all forward-looking information contained in this presentation. Review will prioritize Husky’s balance sheet strength and financial resilience Email Print Friendly Share September 09, 2020 07:00 ET | Source: Husky Energy Inc. When all is said and done, sometimes its easier to focus on companies that don’t even need debt. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. check if insiders have been ditching the stock. Investments S.à r.l. Private Securities Litigation Reform Act of 1995, about Cenovus's and Husky's current expectations, estimates and projections about the future, based on certain assumptions made in light of experiences and perceptions of historical trends. Historical Husky production volumes provided are gross, which represents Husky's working interest share before deduction of royalties. Readers are cautioned that the term proved reserves life index may be misleading, particularly if used in isolation. Adjusted funds flow is defined as cash from (used in) operating activities excluding net change in other assets and liabilities and net change in non-cash working capital. Husky Energy Has A Lot Of Future Options. Simply Wall St has no position in the stocks mentioned. So we’d recommend keeping a close eye on the impact financing costs are having on the business. This forward-looking information is identified by words such as "aim", "anticipate", "believe", "can be", "capacity", "committed", "commitment", "continue", "could", "drive", "E", "enhance", "ensure", "estimate", "expect", "F", "focus", "forecast", "forward", "future", "guidance", "maintain", "may", "objective", "opportunities", "outlook", "plan", "position", "potential", "priority", "re-establishing", "strategy", "should", "target", "will", or similar expressions and includes suggestions of future outcomes, including statements about: the timing and completion of the plan of arrangement and the acquisition of all issued and outstanding Husky common shares and Husky preferred shares, if applicable; the timing and anticipated receipt of required regulatory, court and securityholder approvals for the transaction and other customary closing conditions; Cenovus's ability to issue securities pursuant to the transaction; anticipated share ownership of the combined company following the transaction; the anticipated benefits of the transaction, including corporate, operational and other synergies and the timing thereof; the ability to integrate the businesses of Cenovus and Husky, anticipated margins and reductions to free funds flow break-even at WTI, excluding one-time transaction related costs; expected free funds flow; planned capital allocation; anticipated savings and the sustainability and timing thereof; the expected exposure to WCS oil prices, Alberta and global commodity prices and anticipated sensitivity to commodity price fluctuations; the anticipated effect of the transaction on the profitability, liquidity and cost structure of the combined company; anticipated free funds flow generation and stability; expectations of the combined company's deleveraging capability; the anticipated reserves of the combined company; the expected credit profile and credit ratings; expectations of the combined company's ability to pay dividends, subject to board approval, and any increases thereto; the anticipated safety and reliability of the operations of the combined company; the relative size of the combined company; the expected benefits of the midstream gathering, upgrading, refining and transportation network and assets, including high netback international offshore natural gas assets, to be acquired by Cenovus and the quality and efficiencies thereof; expected pro forma financial and operational projections for 2021 and future years and plans and strategies to realize such projections; the expected development and growth of the combined company's business and plans and strategies to realize such expectations; the combined company's net-debt-to-Adjusted-EBITDA ratio; the combined company's credit facilities; the planned commitments to clean technology, emission intensity reductions, Indigenous engagement, environmental stewardship and diversity; expectations of future production and the timing, stability and growth thereof; anticipated transportation, processing and refining capacities; anticipated priorities for 2020 and future years; anticipated market access; the expected ability to implement the necessary operating expertise; ambition of net zero emissions by 2050; the composition of the combined company's board of directors and management following closing of the transaction; and the projected shareholder returns.

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