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With Morgan as trail boss, a seasoned crew of Alberta hands, and a record of success, EnCana joined a growing band of Canadian energy companies –- Petro-Canada, Talisman, Suncor, Nexen, Canadian Natural Resources, Enbridge, Atco, and others — that rank among the world's leading energy producers.
In 2004, EnCana dramatically shifted gears to focus on North American natural gas production, spending billions to acquire U.S. properties and selling billions of its international properties. Early in the year it paid US$3.6 billion to acquire Tom Brown, Inc., with major gas resources in the U.S. Rocky Mountain region, and by year-end had received about the same amount from the sale of properties in the North Sea, Ecuador, and the deepwater area of the Gulf of Mexico. With its highly efficient and rewarding "gas manufacturing" techniques and long-life producing properties, "it became evident to us that our need for international growth was what we'd call optional," Morgan commented.
- Richard Anco, Railways to resources: the Evolution of PanCanadian Petroleum (Calgary, 1996).
- Gordon Jaremko (ed.), Alberta Energy Company: Celebrating 25 Years of Growth (Calgary: Alberta Energy Company, 2000).
From The Great Canadian Oil Patch, pgs. 481 to 487, reprinted with kind permission of JuneWarren Publishing and Mr. Earle Gray