Cenovus began independent operations on December 1, 2009 when Encana Corporation split into two distinct companies: one an oil company (Cenovus), the other a natural gas company (Encana).
Many of our assets are from the two Canadian oil and natural gas companies that merged to form Encana in 2002 - PanCanadian Energy Corp. and Alberta Energy Company.
It’s through those two companies that we can trace our roots – all the way to the 1880s when the Government of Canada commissioned Canadian Pacific Railway (CPR) to build a transcontinental railroad. As part of its payment, CPR received 25 million acres of land, some of which included mineral and surface rights. It was a CPR crew drilling for water near Medicine Hat in 1883 that made Alberta's first natural gas discovery and launched the petroleum era in Western Canada. PanCanadian Energy Corp. eventually emerged from that first discovery.
Alberta Energy Company came into being in the 1970s, when the Government of Alberta created the company to provide Albertans and other Canadians with an opportunity to participate, through share ownership, in the industrial and energy-related growth of the province.
Over the past five years, as Cenovus, we’ve focused on creating value through the development of our vast oil sands resources in northern Alberta. We also have established conventional oil and natural gas production in Alberta and Saskatchewan and 50 percent ownership in two U.S. refineries.