CALGARY, AB–(Marketwired – April 18, 2016) – Husky Energy (TSX: HSE) has commenced production at its Edam East Lloyd Thermal Project in Saskatchewan, the first of three thermal developments scheduled to come online this year.
First oil at the 10,000 barrels per day (bbls/day) development was achieved about seven weeks following the startup of steaming operations.
“Our growing portfolio of heavy oil thermal projects continues to lead Husky’s transition into a low sustaining capital business,” said CEO Asim Ghosh. “Edam East is another example of the quick ramp ups that we’ve come to expect from these developments, which have operating costs amongst the lowest in the industry.”
Husky’s operating costs for its Lloyd thermal product line averaged about $7 per barrel, including energy, in the fourth quarter of 2015.
Two additional Lloyd thermal projects are expected to begin production in the third quarter: the 10,000 bbls/day Vawn project and the 4,500 bbls/day Edam West project. Husky’s total thermal production is expected to reach approximately 80,000 bbls/day by the end of 2016.
Husky’s thermal projects are supported by the Lloyd Value Chain, which originates with the Company’s extensive resource in the Lloyd area and includes the Saskatchewan Gathering System, the Upgrader and asphalt refinery, and oil storage capacity at Hardisty.
Husky Energy is one of Canada’s largest integrated energy companies. It is headquartered in Calgary, Alberta, Canada and its common shares are publicly traded on the Toronto Stock Exchange under the symbol HSE. More information is available at