The true test of a business strategy’s strength is its ability to withstand adverse conditions. The past year saw a precipitous decline in oil prices and extreme market volatility. Through this storm, the decisions Husky made five years ago to weatherproof its business by setting out on a balanced growth course have proven their mettle.
We remain integrated and diversified, with a strong suite of near, mid and long-term projects. In 2014 we achieved two major milestones with the startup of our Liwan Gas Project and Sunrise Energy Project. We are building further resilience into the business by increasingly transitioning to projects that require less capital to sustain a larger base of production.
Core strength is key to the long-term success of any business and throughout this report you will see how we continue to be focused on the fundamentals: from maintaining a healthy balance sheet and a strong dividend, to continuously improving our safety record and supporting our communities.
Our critical and serious incident rate decreased again last year, as did our Total Recordable Injury Rate. While continuing to improve on both, we know this is an area where our work is never done.
We are committed to the communities where we operate. Last year, for example, we provided scholarships to power engineering students in Alberta and Saskatchewan, supported a new youth centre in Fort McKay, Alberta and assisted a wide range of organizations that help make our communities stronger.
Husky continues to provide value for its shareholders and to look for ways to lighten its footprint.