Husky Energy Acquires Canadian Natural Gas Assets

Husky Energy will acquire natural gas properties in west central Alberta, Canada, to increase its production and reserves to extend use of its Ram River Gas Plant.

The acquisition will add over 65 million cubic feet (mcf) per day of natural gas production or 10,800 barrels of oil equivalent (boe) per day, the company said.

The new assets will also contribute 37mboe of proven reserves and 11,700boe probable reserves.

Husky Energy CEO Asim Ghosh said the company has initiated a strategy to accelerate near-term production opportunities.

“This agreement represents an important step in executing that strategy,” Ghosh said.

The Ram River region in the foothills of central Alberta is a core gas-producing area for Husky.

The firm produces 50mcf per day and the acquisition adds 160,000 acres of land to its holdings, including 122,000 undeveloped acres, doubling Husky’s land holdings in the region.