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Husky history
Husky company history timeline
1952 The first offering of Husky common shares was made in the United States.
In 1953 the Canadian branch separated from its United States parent and was renamed Husky Oil Ltd.
1953 Husky‘s Canadian operations were incorporated under the name Husky Oil Ltd. with shares issued in both Canada and the United States.
1954 Purchased a refinery in Moose Jaw, Saskatchewan.
Operations in Canada gradually outpaced activities south of the border until, in 1960, the Canadian company bought all shares of the United States unit.
1960 Husky Oil acquired the outstanding shares of the United States Company.
By the end of the decade the company was a major regional presence, with annual revenues in 1970 of about C$175 million.
1973 Began exploration of the Athabasca oil sands.
Earl and Natalie continue to field an all-Siberian team for the Iditarod, as they have done in almost every Iditarod Trail sled dog race since its inception in 1973.
At the beginning of June 1978, Glenn Nielson was chairman of Husky, while his son Jim acted as CEO. The two owned only about 20 percent of the company, but ran it like a private family firm.
He had been buying shares in Husky since early in 1978, and managed to acquire a controlling 37 percent stake by the end of June.
Blair renamed AGTL "Nova Corp." in 1980.
1981 Began exploration in the Beaufort Sea and offshore Newfoundland and Labrador.
So Nova began pouring money into Husky, which in 1982 ranked 13th in Canadian oil production.
1983 Opened a new 25,000 bbls/day refinery in Lloydminster, Alberta.
Stuart and driven by Charles Johnson, placed 4th. (The 75th anniversary All Alaska Sweepstakes race was held in 1983, following the same trail and rules as the original race.
1984 Sold its United States assets including service stations.
Husky recorded its first year-end loss in 1986, and share price plummeted.
1986 Curtailed operations and sold assets when oil dropped below $10 a barrel.
1987: Burdened with the debt of expansion, Blair sells a majority stake in Husky to Hong Kong investor Li Ka-Shing.
In particular, the Lloydminster Bi-Provincial Upgrader project, initiated in 1988, was a financial black hole for many years.
In 1988, Husky carried out a takeover of Canterra Energy Ltd., a large Calgary-based conventional oil company, in a deal that made Husky one of the ten largest oil and gas producers in Canada.
In 1990 Shell Canada Ltd. and Husky were battling over who would develop a major gas discovery near the town of Caroline, a village 100 miles northwest of Calgary.
He negotiated a deal late in 1991 to buy Nova's remaining 43 percent stake in Husky for approximately C$325 million.
The company lost C$315 billion in 1991.
1991: Li acquires all but 5 percent of Husky and installs new management.
Li's associate John C.S. Lau, president and CEO of Husky, was instrumental in bringing financial stability to Husky after he joined the company in 1992.
By 1992, it was clear that Blair's aggressive expansion had only pulled Husky further into debt.
Until her death in 1993, Lorna Dernidoff remained the "premier" breeder- judge of Siberians and one of America's most respected Group and Best in Show judges.
Price eventually resigned in mid-1993, and Lau became CEO. Now the undisputed leader, he set about ridding the company of useless undeveloped properties, laid off hundreds of employees, and scrapped the company's "quality work environment" initiative.
The federal and provincial Alberta governments sold their stakes in the project in 1994, but Husky and the Saskatchewan government held on to 50 percent stakes in the hopes that the facility would eventually turn a profit.
1995 Acquired Norcen interests in the White Rose and Terra Nova fields.
The company made a C$35 million profit in 1996 on revenues of C$2.11 billion.
He was very abrasive." Nevertheless, by 1996 Husky was performing better and Lau was declaring himself willing to give employees more access to management.
1996 Husky and China National Petroleum Corporation signed a memorandum of understanding and entered into a joint venture incremental production project in China.
1997 Announced a joint venture oil exploration agreement offshore China with CNOOC.
In April 1998 Husky began testing production from wells in the Pucheng oil field in Henan province, in a joint venture with China National Petroleum Corp.
Saskatchewan managed to recover all the money it had put into the project and sold its interest to Husky for C$310 million in 1998.
1998: Husky invests heavily in acquisition and development of properties offshore Newfoundland.
In 1998 Husky purchased Mohawk Oil, the largest independent chain of filling stations in Western Canada.
In late 2000 the company also signed an agreement to develop two fields in the South China Sea with the China National Offshore Oil Corporation.
In the summer of 2000 Husky took a step that catapulted it into the leading ranks of Canada's oil and gas producers.
2000 Acquired Renaissance Energy and became a publicly-listed company on the Toronto Stock Exchange.
2001 The Wenchang FPSO was launched.
After carefully reconsidering the prospects at White Rose, Husky announced in March 2002 that it would move ahead with development.
In the early months of 2002 Husky confirmed that it was in talks with PetroChina, a massive company that could easily raise the funds to buy Husky.
Many of our original assets were from the two Canadian oil and natural gas companies that merged to form Encana in 2002 - PanCanadian Energy Corp. and Alberta Energy Company.
2002 Light oil production commenced at Terra Nova, offshore Newfoundland and Labrador; and Wenchang, offshore China.
2004 Received regulatory approval and sanctioned the construction of the Tucker Thermal Project.
2005 First production achieved at the light oil White Rose field.
2006 Construction completed at Tucker Thermal Project.
2007 Purchased the 160,000 bbls/day Lima Refinery in Lima, Ohio, United States Established Husky Logistics to haul heavy oil and salt water from field operations.
2008 Husky and BP agreed to create an integrated refining and oil sands business.
Cenovus began independent operations on December 1, 2009 when Encana Corporation split into two distinct companies: one an oil company (Cenovus), the other a natural gas company (Encana).
2010 First production achieved at the light oil North Amethyst field offshore Newfoundland and Labrador.
2011 Sanctioned development of principal fields of the Liwan Gas Project in the Asia Pacific Region.
2012 First oil achieved at Pikes Peak South and Paradise Hill Lloyd thermal bitumen projects.
2013 The Bay du Nord and Harpoon deepwater oil discoveries made in the Flemish Pass Basin offshore Newfoundland and Labrador, near the previously announced Mizzen discovery.
2014 Production delivered at the Liwan Gas Project offshore China.
2015 First oil achieved at the 10,000 barrels per day Rush Lake Lloyd thermal bitumen project.
2017 Sanctioned Liuhua 29-1, the third deepwater gas field at the Liwan Gas Project.
2018 First oil achieved at the 10,000 bbls/day Rush Lake 2 thermal bitumen project.
2021 First production achieved at Liuhua 29-1.
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Husky history FAQs
Zippia gives an in-depth look into the details of Husky, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Husky. The employee data is based on information from people who have self-reported their past or current employments at Husky. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Husky. The data presented on this page does not represent the view of Husky and its employees or that of Zippia.
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