CALGARY _ Husky Energy Inc. (TSX:HSE) says it made financial progress in the second quarter, but the positive news is being offset by a pipeline leak that has spilled thousands of litres of oil and other material into the North Saskatchewan River.
The Calgary-based company didn’t provide an update on the Thursday spill with its second-quarter financial report this morning.
Husky’s second quarter included a $196 million loss, which was equal to 20 cents per share.
That’s less than half of last year’s second-quarter loss, which was $458 million or 47 cents per share.
Husky says asset sales that are nearing completion will allow it to reduce its debt to $4.5 billion from $7 billion, and put it in a stronger financial position.
The company noted that its Sunrise Energy oilsands project was restarted in June following the wildfire. Production has recently reached the 30,000 barrels per day mark.
However, the company has yet to announce the impact of the spill of crude and diluent _ a lighter hydrocarbon that’s added to ease the flow _ from a line that runs from Husky’s oil operations to its Lloydminster facilities on the Alberta-Saskatchewan boundary.
– With files from Bradley Karp
