Cash flow from operations improved by 21% to $5.4 billion or $6.39 per diluted share, compared with $4.5 billion or $5.30 per diluted share in 2006. Sales and operating revenues, net of royalties, were $15.5 billion in 2007, an increase of 23% over $12.7 billion in 2006.
Husky’s 2007 fourth quarter net earnings were $1.1 billion or $1.26 per diluted share compared with $542 million or $0.64 per diluted share for the fourth quarter of 2006. Net earnings for the fourth quarter of 2007 included a tax benefit of $365 million due to federal tax rate reductions, while there were no similar rate reductions in the fourth quarter of 2006.
Cash flow from operations was $1.4 billion or $1.68 per share in the fourth quarter of 2007 compared with $1.2 billion or $1.42 per share in the fourth quarter of 2006. Sales and operating revenues, net of royalties, were $4.8 billion in the fourth quarter of 2007, compared with $3.1 billion in the fourth quarter of 2006.
Production in 2007 was 377,000 barrels of oil equivalent per day, compared with 360,000 barrels of oil equivalent per day in 2006, an increase of 5%. Crude oil and natural gas liquids production increased 10% to 273,000 barrels per day, compared with 248,000 barrels per day in 2006. Natural gas production was 623 million cubic feet per day, compared with 672 million cubic feet per day in 2006.
