Prince George Refinery

On October 4, 2019, Husky Energy Inc. ("Husky") announced that it reached an agreement for the sale of its Prince George Refinery—a light oil refinery located at Prince George, British Columbia—to Tidewater Midstream and Infrastructure Ltd. ("Tidewater") for C$215 million in cash, plus a closing adjustment of approximately C$53.5 million for inventory, and a contingent payment to Husky of up to C$60 million over two years.

As part of the transaction, Husky and Tidewater entered into a 5-year offtake agreement for 90% of the nameplate capacity on diesel and gasoline volumes produced at the refinery.

Closing of the transaction was announced on November 1, 2019.

Further information can be found on Husky's website and on globenewswire.ca.

Prince George Refinery is a 12,000 barrel-per day light oil refinery that supplies refined products—like low sulfur diesel and gasoline, in addition to other products—to retail outlets in the central and northern regions of British Columbia.

Husky is a Canadian-based energy company that operates in Western and Atlantic Canada, the United States and the Asia Pacific region, with Upstream and Downstream business segments.

Tidewater is a Western Canadian midstream company focused on natural gas processing, fractionation, liquids upgrading, storage and transportation, and marketing in North America.