Husky adds to Newfoundland exploration acreage

CALGARY, Alberta, Dec 1 (Reuters) - Husky Energy Inc (HSE.TO) further bulked up its portfolio of exploration properties in the Atlantic around the Canadian province of Newfoundland with acreage in the prospective Sydney Basin.

Husky, Canada's No. 2 oil exploration and refining firm by market value, submitted a winning bid of C$1.8 million ($1.5 million) on an exploration parcel in the untapped basin, which lies south of Newfoundland's southwestern tip.

The company operates the White Rose oil project in the Jeanne d'Arc basin to the east of its new Sydney Basin properties and has actively sought out other exploration areas in the waters off the province.

Indeed, last month the company, controlled by Hong Kong billionaire Li Ka-shing, teamed up with Spain's Repsol (REP.MC), Petro-Canada (PCA.TO) and StatoilHydro (STL.OL) of Norway to acquire new acreage offshore Newfoundland, including parcels in the Jeanne d'Arc basin, which also contains the province's two other producing fields, Hibernia and Terra Nova.

Under the terms of the license, Husky's bid represents the money it commits to spending on exploration in the block in the first five years of a nine-year license.

Husky shares fell C$1.07 to C$30.93 midafternoon on Monday on the Toronto Stock Exchange. ($1=$1.24 Canadian) (Reporting by Scott Haggett; Editing by Jeffrey Jones)