2011-01-14-2010-12-17

To buy properties in AB & BC, gaining 21,900 BOE/d, 104 MMBOE proved.

Husky Energy Inc., Calgary, (Toronto: HSE) plans to acquire oil and natural gas properties in Alberta and northeastern British Columbia from ExxonMobil Canada Ltd., a subsidiary of ExxonMobil Corp., Irving, Texas, (NYSE: XOM) for $860 million.

The assets feature production of 16,300 barrels of oil equivalent per day of natural gas assets, 4,800 barrels of oil per day and 800 barrels of gas liquids per day for a total 21,900 barrels equivalent per day. Proved reserves are 104 million barrels equivalent and proved and probable reserves are 113 million barrels equivalent.

Husky chief executive Asim Ghosh says, "The properties have very attractive metrics, reflecting our commitment to financial discipline. They are located in core operating areas where we will be able to leverage our existing infrastructure to create additional shareholder value."

Husky completed a separate purchase of gas properties in west-central Alberta in September, which added 10,800 barrels equivalent per day in a core producing area.