Canadian Companies

EnCana's roots are in the Canadian Pacific Railway and it’s exploration of oil and gas. The CPR created Canadian Pacific Oil and Gas Company (CPOG) in 1958 to hold its mineral rights and began an exploration and production program. From the amalgamation of CPOG and Central-Del Rio Oils companies, PanCanadian Petroleum Limited was created in 1971. One of the first projects the new company embarked on was the development of shallow gas in southern Alberta in 1972. PanCanadian’s holdings increased over the next twenty years making it the largest independent producer of crude oil and natural gas in Canada. In 1996, PanCanadian purchased the Cohasset and Panuke oil fields offshore in Nova Scotia, marking the company’s expansion into Canada’s East Coast. Three years later, PanCanadian maked a significant offshore natural gas discovery under the Panuke oil field. In the new century, the company launched a CO2 miscible flood projects at Weyburn, Saskatchewan. In 2001 PanCanadian Petroleum Limited became PanCanadian Energy Corporation. Having expanded across Canada, PanCanadian decided to undergo the biggest change in their history.

In 2002, PanCanadian merged with the Alberta Energy Company Ltd. (AEC). The AEC had been created by the Government of Alberta to provide Canadians with an opportunity to participate through ownership, in the petroleum industrial growth of Alberta. In 1975, the Alberta Government sold a one-half interest in AEC, and the company continued to operate successfully. By the end of the twentieth century, AEC was ranked as Canada's largest natural gas producer and the largest independent operator of gas storage in North America. The decision was made by PanCanadian and AEC shareholders to accept a merger between these two equal powerhouses to form EnCana Corporation. Currently, EnCana is the leading natural gas producer with 85 percent of their operating cash flow derived from natural gas and natural gas liquids.