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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery added $1.30 to $46.14 on the New York Merc, while Brent for November added $1.25 to $48.52 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.10 to WTI ($32.04), up from a discount of $14.15. Natural gas for October lost three cents to $2.69. The TSX energy index lost a fraction to close at 197.31.

Husky Energy Inc. (HSE) lost two cents to $16.22 on 895,400 shares. Its name made occasional appearances in the news this week after its majority owner, the Hong Kong billionaire Li Ka-shing, met with Prime Minister Justin Trudeau during the latter's trip to China. There was a photo op (naturally) and Mr. Trudeau told social media that he found Mr. Li "a pleasure to work with." Meanwhile, on the other side of the world, Husky's senior management was busy wooing investors. Rob Symonds, senior vice-president of Western Canada production, presented yesterday at the Barclays CEO Energy-Power Conference in New York, where he talked up Husky's "evolution" over the last six years. Husky decided in 2010 that it wanted to shift its focus toward projects with low sustaining costs. Such projects were making up just 8 per cent of production at the time, but are forecast to make up over 40 per cent by the end of this year. Examples include the Lloydminster thermal assets in Western Canada, which are expected to produce 100,000 barrels a day by year-end (up from 22,000 in 2010) and the Tucker oil sands project, which is now producing over 20,000 barrels a day (exceeding the 2016 target). Besides Western Canada, Husky has assets in the Asia-Pacific region, where its "next wave of growth" will come from offshore Indonesia, and in Atlantic Canada, where production from the White Rose field is holding steady. As for the long-awaited West White Rose project, Mr. Symonds had little to say. Husky's plan about four years ago was to bring West White Rose on production in 2016, but as things stand, Husky has not even made a development decision and does not seem to be planning to do so this year.

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