Our History

Encana. Over 125 years in the making.

Encana’s history touches on some of the most significant political and economic events in Canada and the world in the last 125 years: continental migration in the 1880s, the energy crisis of the 1970s, and the emergence of unconventional energy resources at the turn of the 21st century.

Created through the merger of PanCanadian Energy Corporation and Alberta Energy Company Ltd. in 2002, our predecessor companies' roots go back as far as some of the world's oldest petroleum companies.

Our strategy: unlock the tremendous value unrecognized within our asset base. Our industry-leading approach to resource development, called resource play hub, fosters the technological innovation and enterprise-wide collaboration key to achieving the highest levels of long-term capital and operating efficiency to create shareholder value.

Highlights from Encana's history:

  • 2013
  • 2012
  • 2011
    • Encana agrees to sell its Fort Lupton, Colorado, natural gas processing facility to Western Gas Partners, LP for approximately $303 million
    • Encana acquires a 30 percent interest in the planned Kitimat liquefied natural gas (LNG) export terminal, located on the west coast of central British Columbia, and the associated natural gas pipeline
    • Encana Oil & Gas (USA) Inc. completes a benchmark upstream joint venture development agreement with Natural Gas Company; Northwest Natural to invest about $250 million over five years to earn a working interest in certain sections of Encana’s Jonah field in Wyoming
    • Encana Natural Gas Inc. opens natural gas fleet fueling station in the Denver-Julesburg (DJ) Basin of Colorado
  • 2010
    • Encana and Kogas Canada Ltd., a subsidiary of Korea Gas Corporation (KOGAS), enter into a three-year exploration and production agreement worth C$565 million targeting the Kiwigana area of the Horn River Basin and the West Cutbank area of the Montney formation, both in northeastern British Columbia
    • Encana launches a new look for the new company, including a revised logo and lowercasing the “c” in the company name
    • Encana establishes significant land position on promising Michigan Basin Collingwood natural gas play
    • Encana Natural Gas Inc. opens its first compressed natural gas fueling station in Red River Parish, Louisiana
  • 2009
    • Encana reaches agreement with Bonavista Energy Trust to sell 409,000 net acres of non-core natural gas and oil producing properties in Alberta for approximately $632 million
    • September 10: Encana announces plans to proceed with company split into two distinct and independent energy companies, one a natural gas company, Encana, the other an integrated oil company, Cenovus Energy Inc.
    • September 11: Encana files financial and operating information for Cenovus
    • November 13: financial and operating information is filed for post-split Encana and Cenovus
    • November 25: shareholders overwhelmingly endorse company split into two distinct and independent companies, with 99 percent of shareholders voting in favour of the corporate reorganization. The Court of Queen’s Bench of Alberta approves the transaction
    • November 30: Encana closes transaction to split the company
    • post-split Encana and Cenovus shares begin regular trading on the Toronto Stock Exchange on December 3, and on the New York Stock Exchange on December 9, under the symbols ECA and CVE, respectively
  • 2008
    • May: the Board of Directors of Encana unanimously approve a proposal to split Encana into two highly focused energy companies - one a natural gas company (Encana) with an outstanding portfolio of early life, North American, natural gas resource plays and the other a fully integrated oil company (Cenovus Energy Inc.) with industry-leading in-situ oil properties and top-performing refineries
    • October: given the uncertainty and volatility in the global financial markets, Encana delays the timing of a shareholder vote to split the company, originally planned for December, until clear signs of stabilization return to financial markets
  • 2007
    • Encana and ConocoPhillips close transaction to create integrated North American oil business
    • interests in Chad are sold
    • Brazil offshore exploration is sold for $165 million
    • Leor Energy's interests in Deep Bossier gas fields of East Texas are acquired for $2.55 billion
  • 2006
    • interests and pipeline business in Ecuador are sold to Andes Petroleum Company for $1.42 billion
    • gas storage business is sold for approximately $1.5 billion
    • Encana and Nova Scotia establish framework for Deep Panuke natural gas development
    • interests in offshore Brazil oil discovery are sold to Norsk Hydro for $350 million
    • THE BOW - Calgary's newest office tower project - is unveiled
    • development plan for Deep Panuke natural gas project is filed
  • 2005
    • Randy Eresman succeeds Gwyn Morgan as President & CEO
    • shareholders approve two-for-one share split
    • Gulf of Mexico assets are sold to Statoil for $2 billion
    • conventional oil and gas properties are sold for $326 million
    • Encana plans divestiture of natural gas storage business
    • promising oil discovery is made offshore Brazil
    • oil production expands to 500,000 barrels per day
    • natural gas liquids business is sold for approximately $586 million
  • 2004
    • interests in Petrovera Resources Limited are sold for approximately $285 million
    • U.S. Rockies natural gas position is expanded with the $2.7 billion acquisition of Tom Brown, Inc.
    • conventional oil and gas assets are sold for approximately $395 million
    • Encana participates in promising deep water Gulf of Mexico production test and discovery
    • Encana begins sharpening its strategy to focus on development of North American oil and natural gas, all U.K. North Sea assets, production and prospects, including 43 percent of the Buzzard project, are sold to Nexen Inc. for $2.1 billion
  • 2003
    • Cold Lake Pipeline System is sold
    • Express Pipeline System is sold
    • 10 percent interest in Syncrude is sold for approximately $1,070 million
    • Encana’s remaining 3.75 percent of Syncrude is sold for approximately C$417 million
    • natural gas flows commence into Wild Goose Storage expansion in California
    • Starks natural gas storage facility planned for southwest Louisiana
    • Encana acquires Cutbank Ridge natural gas resource play, spanning northeast British Columbia and northwest Alberta
    • southern Alberta coalbed methane (CBM) development is expanded
  • 2002
    • Encana is created in 2002 from two Canadian independent oil and gas companies - PanCanadian Energy Corporation (PanCanadian) and Alberta Energy Company Ltd. (AEC)
    • January: AEC and PanCanadian execute a combination agreement and hold a joint news conference announcing the merger agreement
    • April 4: AEC shareholders and option holders, and PanCanadian shareholders approve the planned merger of AEC and PanCanadian to form Encana Corporation. The Court of Queen's Bench of Alberta approves the arrangement on April 5, 2002
    • April 8: Encana shares begin trading on the Toronto Stock Exchange and New York Stock Exchange under the symbol ECA
    • Encana expands production and land base in the U.S. Rockies
    • Encana moves to development planning after successful appraisal drilling of its Buzzard (U.K.) discovery
    • Encana plans disposition of two major crude oil pipeline systems
    • Encana expands Alberta natural gas storage
    • Encana sells two oil pipelines for C$1.6 billion
    • December 18: Encana appoints Randy Eresman as Senior Executive Vice-President & Chief Operating Officer
  • 2001
    • AEC ranks as Canada's largest natural gas producer and the largest independent operator of natural gas storage in North America; produced natural gas sales exceed 1.3 billion cubic feet per day; liquids sales exceed 135,000 barrels of oil per day
    • PanCanadian Petroleum Limited becomes PanCanadian Energy Corporation - 100 percent publicly traded under the symbol PCE on the Toronto Stock Exchange and PCX on the New York Stock Exchange; it drills a major light oil discovery at Buzzard in the United Kingdom (U.K.); produced gas sales exceed one billion cubic feet of natural gas per day. Liquids sales exceed 114,000 barrels of oil per day
  • 2000
    • PanCanadian launches one of the continent's largest CO2 miscible flood projects at Weyburn, Saskatchewan
    • AEC ranks as Canada's largest natural gas producer and expands into the U.S. Rockies acquiring an operating interest in Wyoming's Jonah field
    • natural gas production exceeds one billion cubic feet of natural gas per day
  • 1990's

    1999

    • AEC acquires Pacalta Resources Ltd. and its operating interests in oil production in Ecuador
    • construction of the first phase of commercial steam-assisted gravity drainage (SAGD) begins at Foster Creek in northern Alberta

    1998

    • AEC acquires Amber Energy and its interest in the Pelican Lake field in Alberta

    1997

    • PanCanadian expands oil extraction expertise through acquisition of CS Resources Ltd., including the Christina Lake property in northern Alberta
    • PanCanadian extends its interests to include the East Coast Canada region through the purchase of the Cohasset and Panuke oil fields offshore Nova Scotia

    1996

    • AEC buys Conwest Exploration Company Ltd., focuses on oil and natural gas exploration and production, and establishes a high-performance growth strategy

    1994

    • Gwyn Morgan is appointed President & CEO of AEC

    1993

    • the Alberta Government sells its remaining stake in AEC, making the company 100 percent publicly-owned

    1992

    • PanCanadian launches an aggressive multi-year capital program, taking production to more than 260,000 barrels of oil equivalent per day over the next four years
  • 1970’s-1980’s

    1988

    • AEC opens AECO-C natural gas storage, creating a benchmark for Canadian natural gas prices and a North American trading hub

    1982

    • PanCanadian's head office moves in to new corporate headquarters in Calgary, Alberta; the award-winning building is on the corner of 9 Avenue and 1 Street S.E., and is known as PanCanadian Plaza

    1975

    • AEC begins operations as a diversified resource company, owned 50 percent by the public and 50 percent by the Government of Alberta; inaugural assets include oil and natural gas exploration rights to the 600,000-acre Suffield Block in southeast Alberta

    1972

    • PanCanadian embarks on ambitious development of shallow gas on its royalty-free lands in the Irrigation Block of southern Alberta

    1971

    • PanCanadian Petroleum Limited is created by the amalgamation of Canadian Pacific Oil and Gas Company and Central-Del Rio Oils and becomes the largest independent producer of crude oil and natural gas in Canada
  • Pre-1970's

    1958

    • Canadian Pacific Railway (CPR) creates Canadian Pacific Oil and Gas Company (CPOG) to hold its mineral rights and begins an aggressive exploration and production program

    1883

    • a CPR crew drilling for water near Medicine Hat makes Alberta's first natural gas discovery and launches the petroleum era in Western Canada

    1881

    • the Government of Canada commissions CPR to build a transcontinental railroad, connecting the country from east to west; as partial payment, CPR receives 25 million acres of land; in some cases, mineral and surface rights are included

* Unless otherwise specified, dollar amounts are in US currency.

ECA stock price

TSX $25.56 Can 0.020

NYSE $23.18 USD 0.010

As of 2014-04-24 11:48. Minimum 15 minute delay