Husky Energy Inc. reported earnings and production results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net earnings were CAD 545 million compared to CAD 136 million a year ago. Cash flow - operating activities was CAD 1,283 million compared to CAD 894 million a year ago. Funds from operations were CAD 1,318 million compared to CAD 891 million a year ago. Capital expenditures were CAD 968 million compared to CAD 511 million a year ago. Free cash flow was CAD 350 million compared to CAD 368 million a year ago. Funds from operations per common share – Basic was CAD 1.31 compared to CAD 0.89 a year ago. Adjusted net earnings were CAD 568 million or CAD 0.57 basic per share compared to loss of CAD 136 million or CAD 0.14 basic per share a year ago. Funds from operations in the quarter were more than CAD 1.3 billion, driven by 2 main factors: the downstream and Asia-Pacific.

For the nine months, the company reported net earnings were CAD 1,241 million compared to CAD 114 million a year ago. Cash flow - operating activities was CAD 2,821 million compared to CAD 2,353 million a year ago. Funds from operations were CAD 3,421 million compared to CAD 2,292 million a year ago. Capital expenditures were CAD 2,313 million compared to CAD 1,475 million a year ago. Free cash flow was CAD 1,068 million compared to CAD 745 million a year ago. Funds from operations per common share – Basic were CAD 3.40 compared to CAD 2.28 a year ago. Adjusted net earnings were CAD 1,287 million or CAD 1.28 basic per share compared to CAD 219 million or CAD 0.22 basic per share a year ago. Net debt was CAD 2,950 million. Net debt was CAD 2.6 billion compared to CAD 3.0 billion a year ago.

For the third quarter, the company announced total equivalent production of 297 mboe /day compared to 318 mboe /day a year ago. Crude oil and NGLs production was 210 mbbls /day compared to 224 mbbls /day a year ago. Natural gas production was 520 mmcf/day compared to 563 mmcf /day a year ago.

For the nine months, the company announced total equivalent production of 298 mboe /day compared to 324 mboe /day a year ago. Crude oil and NGLs production was 215 mbbls /day compared to 234 mbbls /day a year ago. Natural gas production was 497 mmcf/day compared to 541 mmcf /day a year ago.

The company expects to end the year with capital spending of approximately CAD 3.3 billion due to increased working interest in the 29-1 field and the additional drilling undertook in Western Canada.