Husky Energy continued to add more proved reserves compared to production in 2012, reflecting increased heavy oil recovery from its thermal projects and final regulatory approval of the Liwan Gas Project in the Asia Pacific Region.

Reserves growth has consistently outpaced production, with an average proved reserves replacement ratio over the past two years of 175 percent. Including economic revisions, the average proved two-year reserves replacement ratio was 149 percent, ahead of the five-year average target of 140 percent per year.

The Company is adding to its reserves while continuing to advance a rich pipeline of projects as it targets an annual production growth rate of five to eight percent through 2017.

Tags: Husky Energy Inc.