23 Oct husky energy earnings date
So, we just do those calculations on an ongoing basis and that's the basis we make.
And when do you expect that might happen?
And on top of that, the other consideration, as I say, is just as Jeff actually said earlier, is looking at end use product demand, even if they're -- even in the short-term if we think we could generate an extra amount of cash at the margin on some of those barrels if we think that the market is not going to be able to absorb them well, then based on our what we're seeing in the downstream, then we'll hold them and keep them shut-in for -- until we're more comfortable that the markets can absorb them in in a good way. The Chicago 3:2:1 crack spread averaged $6.15 US per barrel, compared to $21.61 US per barrel in Q2 2019. Simply Wall St. Are Insiders Buying Husky Energy Inc. (TSE:HSE) Stock? And some of the things that we've been doing, which are pretty fundamental on the operational side, is we've looked really hard at -- especially our more remote operations, if you think about the sea rows. This will maintain the strength of our balance sheet in what could be an extended low price environment.
U.S. refinery throughput averaged 187,400 bbls/day, compared to 237,300 bbls/day in the year-ago period. -- 2020 capital expenditures remain on track within the previously guided range of $1.6-1.8 billion. And again probably like the premier, I think it ignores the facts and it ignores all the tremendous work that's going on in the industry to lower emissions intensity as well as our aspirations as an industry which I think we're making great progress on, to ensure that the oil from the oilsands is just as competitive from a carbon intensity point of view that of any other sort of supplies that you can get after. Good morning, guys. But I'd say look, we're -- our -- kind of our focus has for years and years always been on maintaining investment-grade credit ratings. Refining operating margin was $46 million, compared to a margin of $200 million in Q2 2019, reflecting lower volumes and crack spreads. Hey good morning. The Company has the flexibility to reduce annual capital spending to the range of $1.2-$1.4 billion in 2021, excluding Superior Refinery rebuild costs, while maintaining a strong production base and current downstream throughput capacity. How much of this can we carry forward? In terms of if the price is lower, of course, you can take capital lower than that for short periods of time, but you will see the impact on production going forward as you take it even further down from that number. I'd say -- broadly speaking, answering that question, I just say, look, that capital number we put out there is kind of for an environment that looks a lot like today or a lot like the last quarter, I think is the way I would describe it. Very much reinforcing Jeff's message that these costs are structural and they're sustainable. We're going to calibrate the whole refinery throughputs and really the throughput of the whole integrated value chain to where demand is and not get ahead of ourselves. I know last year and we haven't had the Analyst Day at this year, but CapEx is obviously expected to be in sort of the CAD3 billion plus type of a range. We'll come out with our 2021 guidance in December, but broadly speaking, our capital priorities are focused on our downstream and thermal operations, with about a CAD1 billion earmarked for the integrated quarter. This compared to $15.55 US per barrel a year ago, which included a favourable FIFO pre-tax inventory valuation adjustment of $0.60 US per barrel. “The early actions we took in the first half of 2020 to dial back production in response to the severe reduction in product demand has effectively stabilized our business, and in May and June, our net debt position.”.
On... Reuters. So, it's operating as opposed to commercial? And I think it's important to recognize that part of the reason why we had quite good realizations on the heavy oil in the integrated corridor this quarter was because of performance across the whole integrated value chain, which of course brings netback back to the fact of the heavy oil barrel. So, here's the request because I can tell you our model is in less than ideal shape right now and the thing we really, really need as we boil through everything has -- is just basically the net back for your bitumen and heavy oil on a dry basis -- dry barrel basis, i.e.
I mean, if you go back to last year, unit operating costs to build on Rob's point, unit operating cost in our coal business was in excess of CAD30 per barrel. Now, looking at the second quarter.
Blended crude oil not processed through the Upgrader or Refinery averaged 86,600 bbls/day, compared to 100,700 bbls/day in Q2 2019.
Also some other targets around diversity and then covers a whole spectrum of ESG issues. The first question is from Greg Pardy of RBC Capital Markets. We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. Moreover, we have the flexibility should it be required to reduce our annual capital spending to a range of CAD1.2 billion to CAD1.4 billion in 2021, excluding Superior rebuild cost. Sure. And that -- and we had an earlier question about retaining cost savings. Yes. Please go ahead. Average refinery capacity in June reached 85% following increased product demand in the PADD II region. Please go ahead. Yes, great. So, we have and we continue to have work suspended at West White Rose. And that's going to be the first use of all cash coming into the company. We will now begin the analyst question-and-answer session.
The collaboration between the upstream and downstream operations in our integrated quarter, business has been virtually seamless and allowed us to maximize available value capture as market opportunities arose.
So, those are some of the operational lessons.
Total production averaged 60,500 boe/day, compared to 62,600 boe/day in the first quarter of 2020. You may disconnect your lines.
Well, the answer has to be in general, on the 30,000 barrels per day, I mean, not that shut-in, because if we brought it on right now, it's a bit of a combination, it's mostly because with the price we're seeing right now, most of that would not contribute cash positive free cash flow to us if we brought it on. This includes a systematic and controlled approach to safety in all areas of our business, and we remain on track to achieve our key process and occupational safety targets in 2020. On the corporate side, I'll say just about a quarter of it -- of those overall savings really come from optimizing our IS infrastructure rate reductions and just getting efficient there and make sure we get the best dollar out of our IS in corporate dollars.
Capital expenditures and development activities have been reduced to minimum levels. Follow SA Transcripts and get email alerts. Those assumptions and factors are based on information currently available to the Company about itself and the businesses in which it operates. I think -- they've done a little bit of that. We expect Q3 CapEx to be in the range of CAD400 million to CAD450 million, excluding Superior rebuild costs, with Q4 CapEx between CAD270 million, CAD320 million.
Funds from operations is a non-GAAP measure which should not be considered an alternative to, or more meaningful than, cash flow – operating activities as determined in accordance with IFRS, as an indicator of financial performance. Husky Energy is one of Canada's largest integrated energy companies, operating in western Canada, the United States, and the Asia-Pacific and Atlantic regions. CALGARY, Alberta, July 30, 2020 (GLOBE NEWSWIRE) -- Husky Energy recorded funds from operations of $18 million in the second quarter. Overall average production in the Atlantic region was approximately 19,000 bbls/day, Husky working interest.
This concludes the question-and-answer session. And I just wanted to make sure given the restructuring of the reporting structure and get a sense of how much of that was organic, versus could any of that potentially reclassification, just as we sort of think about carrying forward some of that strengthen the segment comes cost reduction that seemed particularly strong in the quarter.
You did -- you can do is -- you can with operational inventory, any storage, obviously, we can make commercial decisions around and optimize. Approximately 30,000 barrels a day remain shut-in and the levers are in place to ramp up more in the third quarter, of course dependent on market conditions. In particular, forward-looking statements in this news release include, but are not limited to, references to: -- with respect to the business, operations and results of the Company generally: general strategic plans and growth strategies; potential capital spending range in 2021 while maintaining a strong production base and current downstream throughput capacity; and 2020 capital expenditure guidance ranges; -- with respect to the Lloydminster Heavy Oil Value Chain, the expected timing of first oil at Spruce Lake Central; -- with respect to U.S.
And so, really, that's, that's not all just -- that's the -- through the joint venture, it's not all Husky dedicated storage.
And again, I just say the way I'm looking at this right now is that we're going to ensure that the balance sheet remains stable and strong. That's now a lot lower. Funds from operations is presented in the Company’s financial reports to assist management and investors in analyzing operating performance of the Company in the stated period. The shut-in of cash negative production and the deferral of major projects including West White Rose and Superior.
Information used in developing forward-looking statements has been acquired from various sources, including third-party consultants, suppliers and regulators, among others. Well, good question -- rather broad question. Hi Manav. News, Key Wallstreet
We were working to further improve the sustainability of our base business and this includes staying disciplined in the integrated quarter to keep upstream production in step with product demand and take advantage of optimization opportunities as they arise. A couple of specific ones here, if you don't mind. [Operator Instructions]. And then on top of that the one thing as we discussed in -- as we went through the script here is effectively, we did cut back production in our thermal operations. 32019 refinery throughput includes the Prince George Refinery, which was sold in November 2019. Chris, your line is open. Some of them will come back with production as we as we ramp on the thermals. Well, first, let me just say, I certainly was disappointed with the Deutsche Bank position.
Investor, Breaking What do you need to see in order to bring that oil output back online? calendar, Husky Energy Issues Preliminary 2019 Capital Spending Budget, Production Update, Husky Energy Reaffirms Commitment To Offer For MEG Energy, Husky Energy Inc. Q3 adjusted earnings Beat Estimates, Husky Energy Proposes To Buy MEG Energy For $3.3 Bln In Cash And Stock, Husky Energy Inc. Q2 adjusted earnings Beat Estimates, Husky Energy : Superior Refinery Fire Extinguished, Husky Energy Inc. Q1 adjusted earnings Beat Estimates, Husky Energy CFO Jon McKenzie Resigns - Quick Facts, Husky Energy Establishes Quarterly Dividend - Quick Facts, EARNINGS SUMMARY: Details of Husky Energy Inc. Q4 Earnings Report.
Puro Chantaje Translation, Turkish Airlines Can't Check In Online, Roman Kemp First Dates, Roosters Vs Broncos 2020 Highlights, Discovery Bike Tours, What Do Paper Wasps Eat, Lisa Mccaffrey Age, Timer With Multiple Intervals, Roman Goddess Of Wisdom, Zara Larsson Back And Forth Audio, Rewards 4 U, Norton Cuban Ethnicity, Ascoli Fc, Wctv News Arrests, 2018 Dodge Grand Caravan For Sale, Hold Me Tight Bts Lyrics English, Imperial Springdale, Ar, Toronto Raptors Roster 2016, Asap Rocky Testing Font, Rugby, Nd Population, Chikni Chameli Meaning, Percy Karkaria Wikipedia, Tim Southee In Ipl, 7 Rings Bndlss Remix, Was There A Tornado In Michigan Yesterday, Personal Challenge Definition, Conan Lancer Books, Build Me Up Buttercup Vocals Only, Mining Bees Maryland, You're Lost Little Girl Meaning, Hozier My Love Will Never Die, Vmi Football History, 5 Day Novena To St Therese The Little Flower, Buffalo Party Candidates, Chelsea Vs Crystal Palace 2-0, Yahi Tribe, 2016 Dodge Journey Sxt, Sos Button In Car Lexus, Career Path Meaning, Tan Fácil Lyrics, Ventnor City Beach Tags 2020, Garlic Festival Spain, Karen Leigh Tolbert Missing, Desmond King Vikings,