Euro Investor - Mar 15, 2010Husky Energy Inc. (HSE)
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Fadel Gheit
at
Oppenheimer & CompanyBut it will be a very significant capital investment.". BP, which sold a half interest in its Kirby oil sands property to Devon Energy Inc ( Devon Energy CP (OK) ) last week, also holds a half share in a oil sands and refining venture with
Husky Energy Inc that is in the early stages of construction. The British company is a late arrival to the oil sands, where most of its large rivals have already acquired significant stakes. The northern Alberta oil sands region has the largest crude reserves outside the Middle East and one of the few places in the world where investor owned oil companies are still allowed to freely invest to develop significant oil resources."They
are catching up to the other majors," said Fadel Gheit, an analyst with Oppenheimer & Co. "It represents the smallest of their operations and they have to grow it fast.
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But it will be a very significant capital investment.". BP, which sold a half interest in its Kirby oil sands property to Devon Energy Inc ( Devon Energy CP (OK) ) last week, also holds a half share in a oil sands and refining venture with <span class="company">Husky</span> Energy Inc that is in the early stages of construction. The British company is a late arrival to the oil sands, where most of its large rivals have already acquired significant stakes. The northern Alberta oil sands region has the largest crude reserves outside the Middle East and one of the few places in the world where investor owned oil companies are still allowed to freely invest to develop significant oil resources."They<span class="sent"> are catching up to the other majors," said <span class="analyst">Fadel Gheit</span>, an analyst with Oppenheimer & Co. "It represents the smallest of their operations and they have to grow it fast.</span>
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