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Husky Energy’s financial progress clouded by North Saskatchewan River spill

Husky Energy
Husky Energy offices in Calgary on Feb. 9, 2016. Global News

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.

READ MORE: Husky Energy pipeline leaks oil into 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.

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READ MORE: North Battleford, Sask. shuts down water intake due to oil slick

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.

Husky Energy pipeline leaks oil into North Saskatchewan River
Husky Energy pipeline leaks oil into North Saskatchewan River