Canadian Oil Merger to Help Manage Price Discounts - Husky CEO

Posted by Michelle Howard
Monday, October 1, 2018

Husky Energy Inc's hostile bid for MEG Energy Corp reflects the need for Canadian oil companies to own integrated assets, from production to refineries, to manage the deep price discounts on Canadian crude, Husky Chief Executive Rob Peabody said on Monday.

Peabody said Husky will shortly begin to meet with MEG shareholders about the deal, valued at C$6.4 billion, but would welcome talks with MEG's board. 

Reporting by Rod Nickel in Winnipeg, Manitoba

Categories: Finance Mergers & Acquisitions Shale Oil & Gas

Related Stories

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

SLB Names Raman CSO, CMO

European LNG Imports Up with Asian Influx

Yinson Production Scoops $1B Investment to Upscale FPSO Business

Abu Dhabi's NMDC Group Gets $1.1B Subsea Gas Pipeline Job in Taiwan

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Subsea Redesign Underway for Floating Offshore Wind

China’s CNOOC Brings Bohai Sea Oil Field On Stream

Current News

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com