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01-11-2019

Husky Energy closes sale of Prince George refinery

Husky Energy has closed the sale of its 12,000 barrel-per-day Prince George Refinery to Tidewater Midstream and Infrastructure for $215 million in cash, plus a closing adjustment of approximately $53.5 million.
 
Proceeds of the sale will be used in accordance with Husky’s funding priorities, which include maintaining the strength of the balance sheet and returning value to shareholders through a sustainable cash dividend.
 
The transaction includes a contingent payment to Husky of up to $60 million over two years. The Company has entered into a five-year offtake agreement with Tidewater for refined products from the refinery, located in Prince George, B.C.

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