EnCana was split into natural gas-weighted Encana and oil company Cenovus Energy Corp. in 2009. Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids.

[13], In January 2007, the company sold its assets in Chad to China National Petroleum Corporation for $202.5 million. More than 80 percent is natural gas — the cleanest burning of all fossil fuels. "Our returns in Canada continue to be every bit as strong as the rest of our portfolio.

[32], In November 2014, the company acquired Athlon Energy for $7.1 billion. That well was in use for about 50 years.

[26][27], At the end of 2012, Encana's staff had increased to 4,169 employees. Encana was created in 2002 through the merger of Alberta Energy Company Ltd., founded in the 1970s by the provincial government, and PanCanadian Energy … [9], On July 3, 1958, Canadian Pacific created "Canadian Pacific Oil and Gas" to manage its oil and gas properties and its mineral rights.

Comments are welcome while open. We do not expect any impact on our Canadian workforce, either in the office or the field.". [38][39], In June 2017, the company sold its assets in the Piceance Basin for $735 million. Energy giant Encana to move HQ from Calgary to the U.S. Alberta eases oil curtailment for operators who ship extra barrels by rail, CBC's Journalistic Standards and Practices.

In July 2012, Reuters reported about e-mails between the company and Chesapeake Energy, the second-largest natural gas producer in the U.S., to divide up Michigan counties state land leases to suppress land prices in an October 2010 auction. EnCana. We will continue to make profitable investments in the Montney and the Duvernay, and manage these assets out of the Calgary office. [52][53][54], In 2019, the company's average production was 1.577 billion cubic feet per day (44.7×10^6 m3/d) of natural gas and 164.4 thousand barrels of oil equivalent (1,006,000 GJ) per day of petroleum, and 137.5 thousand barrels of oil equivalent (841,000 GJ) per day of natural gas liquids.

Encana's departure "only intensified the gloom enveloping the Canadian energy industry after foreign companies sold more than US$30 billion". [16], In spring 2008, residents from Pavillion, Wyoming, approached the United States Environmental Protection Agency (EPA) about changes in water quality from their domestic wells. "This is a sad day for Canada's energy sector," said Deborah Yedlin, business commentator for CBC's Calgary Eyeopener. Encana traces its roots to the Canadian Pacific Railway, which was granted subsurface mineral rights by the government of Sir John A. Macdonald, Canada's first prime minister, as compensation for assuming the risk of developing the railroad.
[43], In December 2018, the company sold its assets in the San Juan Basin for $480 million. Comments on this story are moderated according to our Submission Guidelines. The company, which … [22], In February 2012, Mitsubishi paid approximately C$2.9 billion for a 40% interest in the Cutbank Ridge Partnership with Encana, which involves 409,000 net acres of Montney Formation natural gas lands in northeast British Columbia. [2], From 2008 through 2010, the company accumulated 250,000 net acres in the Collingwood-Utica Shale gas play in the Middle Ordovician Collingwood formation of the Michigan Basin at an average cost of $150/acre. Click the Back button to try another link.

By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates.

It has no political overtone, it has nothing to do with roles and jobs, it's quite simply trying to make sure, over time, we're doing everything we can to get the value of the company reflected in the share price," he said. Our roots go back to the late 1800s when workers for the Canadian Pacific Railway (CPR) drilling a water well discovered natural gas. [2], In the United States, the company holds approximately 1.077 million net acres of land, of which 207,000 net acres are undeveloped. [21], In December 2011, the company sold the majority of its natural gas producing assets in the Barnett Shale.

It operates in the Eagle Ford Group, Permian Basin, Anadarko Basin, Arkoma Basin, Uinta Basin, and the Williston Basin. Gwyn Morgan was named president and CEO. [17], In 2009, Encana completed the corporate spin-off of Cenovus Energy, which held its oil business, representing one-third of total production and reserves, and EnCana Corporation retaining its natural gas business. "There'll be no movement of roles or responsibilities, no reduction in staff and actually no change to how we're allocating capital," he said during the conference call.
Please note that CBC does not endorse the opinions expressed in comments. [29] The project, owned by H&R REIT, was announced as Encana's headquarters in 2006, prior to the Cenovus split.

We opted to make use of this newly discovered resource. The name change is reminiscent of TransCanada Corp.'s move to officially drop the "Canada" from its name last May, renaming itself TC Energy Corp., a name it said better speaks to the breadth of its pipeline, power generation and energy storage businesses and its operations in Canada, the U.S. and Mexico. [1], In October 2004, EnCana sold its UK unit, including a 43% stake in the Buzzard field (discovered in 2001 by a PanCanadian-led group), to Nexen for $2.1bn US.