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Husky Energy Inc. says it looks to get from retail consumer fuels for 80 years in the company.
Calgary's oil producer says it is launching a strategic review that could lead to the sale of a Canadian retail and commercial fuel company and small-scale refineries of Prince George, B.C.
He says he would rather concentrate on his integrated corridor up and down in Alberta, Saskatchewan and the US Midwest and in offshore companies in Atlantic Canada and the Asia-Pacific region, adding that the decision was not related to its offer, which expires next week to buy oil rival MEG Energy Corp.
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Husky has more than 500 service stations, travel centers, operations for files and mass distribution facilities from British Columbia to New Brunswick. The loyalty program of myHusky Rewards has about 1.6 million members.
The refinery in Prince George, which spans 12,000 barrels per day, processes light oil into gasoline, diesel fuel and other products for nearby B.C. regions. It has two refineries and is in the United States a half-owner of the third refinery.
On Tuesday, CIBC analyst Jon Morrison said the expected value of these assets was around $ 835 million.
"We believe that the retail network of course has some strategic customers that should be interested in, while the refinery has a smaller list of potential buyers according to the size, size and location of the facility," he said in an e-mail.
READ MORE: Husky Energy cuts the capital budget for 2019 by $ 300 million, criticizes the plan to cut oil from Alberta
Press spokesman Mel Duvall said that Husky began selling fuel to consumers in 1938 shortly after the original owner built a small refinery in Cody, which was moved to Lloydminster on the Alberta-Saskatchewan border in 1946.
Director Rob Peabody says companies in the press release are "very marketable" and will attract a lot of interest and appreciation.
TD Securities Inc. he acts as a financial advisor and Torys LLP is a legal adviser.
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