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As oil prices continue to slide in search for a market-set equilibrium in a post-OPEC world, companies such as Husky Energy Inc. are remaking themselves to withstand the new environment for as long as it takes, while squeezing every advantage they can get. And if that means looking to greener pastures outside Alberta, then so be it.

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‘It is self-evident to everybody that we are into uncharted territory and the old rules of OPEC calling the shots are no longer valid,’ says Husky CEO.

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As Ghosh put it in a call with analysts Tuesday: “We have to consider jurisdictional competitiveness, if Alberta gets out of step with other regions, investment will move.”

At the start of the oil price collapse, the fixes by Canadian oil companies were all about the low hanging fruit — investment cuts, layoffs, dividend cuts, squeezing suppliers.

Today, with the price crash stretching into a second year, it’s about managing to the fullest to build resilience at all price levels. To that end, Husky, which has operations across Canada, in the East Coast, in Asia and in the United States, is picking projects that make money at the most conservative oil price assumptions, transitioning the company away from higher-cost to lower-cost production, shuffling money to higher-return regions, and eliminating oil discounts where possible.