July 26, 2018 / 11:37 AM / 2 months ago

UPDATE 1-Canada's Husky Energy beats profit estimates

(adds estimates, background)

July 26 (Reuters) - Canadian oil and gas producer Husky Energy Inc beat estimates with quarterly profit on Thursday as it benefited from higher crude oil prices while the company blamed maintenance and bad weather for the drop in production volumes.

The average realized prices for production rose 19.6 percent to $49.74 per barrel.

Amid the transportation bottlenecks that Canadian Energy companies face, Husky said earlier this month it had excess oil pipeline capacity to the United States.

Husky produced 296,000 barrels of oil equivalent per day (boe/d) during the quarter, down from 320,000 boe/d, a year earlier.

The Calagary, Alberta based company reported a profit of C$448 million, or or 44 Canadian cents per share, in the second quarter ended June 30, compared with a loss of C$93 million, or 10 Canadian cents, a year earlier.

Excluding certain items, Husky posted a profit of 47 Canadian cents per share, beating the average analyst expectations of 34 Canadian cents.

$1 = 1.3024 Canadian dollars Reporting by Akshara P in Bengaluru; Editing by Shailesh Kuber

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