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Calagary Sun: Husky Energy muscles past Shell Canada

Buoyed by exploration success, high oil prices and promised growth in the Alberta oilsands, Husky Energy Inc. has vaulted into third spot by market value among Canada’s integrated oil companies, surpassing rival Shell Canada Ltd.

Husky shares have risen by nearly half in the past 12 months, closing yesterday at a record $78.40, up $1.54 on the day.

That gave the company a capitalization of $33.26 billion above the $32.77 billion capitalization of Shell Canada, according to Reuters.

Husky’s rise is also the largest among Canada’s five major petroleum exploration and refining firms, a group that also includes No. 1 Suncor Energy Inc., second-place Imperial Oil Ltd. and Petro-Canada.

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