Husky To Pay $841M For Exxon Oil, Gas Assets

Law360, New York (November 29, 2010, 6:49 PM EST) -- Husky Energy Inc. said Monday it would pay CA$860 million ($841 million) to ExxonMobil Canada Ltd. for oil and gas properties in western Canada as part of a plan to beef up production in the short term and secure long-term growth.

The Calgary-based energy company said it signed a purchase and sale agreement to acquire the properties, which are located in Alberta and northeast British Columbia. Husky expects the assets to add roughly 21,900 barrels of oil equivalent per day of production.

“The properties have very...
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