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 ConocoPhillips
Canada Resources Corporation is headquartered in
Calgary, Alberta. It is one of the country’s largest
oil and natural gas exploration and production
companies. The company is a wholly owned subsidiary
of Houston based ConocoPhillips and was formed in
2002 following the merger of Conoco Inc. and
Phillips Petroleum. Conoco actually is the current
name for Continental Oil, who began marketing
petroleum products to Canada since the 1880s. From
1929 to 1960, Continental Oil was a partner in the
Hudson’s Bay Oil and Gas Company, shipping crude oil
to Montana were it was refined. By 1967, Continental Oil
(shortened to Conoco) was the sixth largest producer
in Canada. The company maintained a
presence in Canada until 1981 when it sold its
shares in Hudson’s Bay Oil and Gas to Dome
Petroleum. After a brief hiatus from the Canadian
market, Conoco returned by acquiring part of the
Peco filed from Petro-Canada and Renaissance Energy
in 1988. The company’s purchase of Gulf Canada
Resources Limited in 2001 had a significant impact
on Conoco and Canada’s petroleum industry. The
acquisition brought Conoco to the forefront of
the Canadian oil and gas industry once again. The head office
in Houston decided to merge with Philips a year
later, creating a new company with over a hundred
years of experience, and a promising future as a
force in the Canadian oil and gas industry.
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