Husky Energy Inc. (TSX:HSE) says it made financial progress in the second quarter, but the positive news is being offset by a pipeline leak that has spilled thousands of litres of oil and other material into the North Saskatchewan River.
The Calgary-based company didn’t provide an update on the Thursday spill with its second-quarter financial report Friday morning.
Husky’s second quarter included a $196 million loss, which was equal to 20 cents per share.
That’s less than half of last year’s second-quarter loss, which was $458 million or 47 cents per share.
Husky says asset sales that are nearing completion will allow it to reduce its debt to $4.5 billion from $7 billion, and put it in a stronger financial position.
However, the company has yet to announce the impact of the spill of crude and diluent — a lighter hydrocarbon that’s added to ease the flow — from a line that runs from Husky’s heavy oil operations to its Lloydminster facilities on the Alberta-Saskatchewan boundary.
Watch below: The Saskatchewan government says oil from a Husky Energy pipeline has spilled into the North Saskatchewan River upstream of Maidstone. Joel Senick reports.