Our history 1938 to present

Our history

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 original assets were 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.

On January 1, 2021 Cenovus Energy acquired Husky Energy, which began as a small refinery operation in 1938 and grew to become one of Canada’s top integrated oil and gas producers.

The combined company is the second largest Canadian oil and natural gas producer, the second largest Canadian-based refiner and upgrader, and unites high-quality and low-cost oil sands and heavy oil assets with extensive midstream and downstream infrastructure.

Husky history

  • 2020s


    • Acquired by Cenovus Energy to become the second largest Canadian oil and natural gas producer and the second largest Canadian-based refiner and upgrader.


    • First production achieved at Liuhua 29-1.
    • First oil achieved at the 10,000-bbls/day Spruce Lake Central thermal bitumen project.
    • Completed the crude oil flexibility project at the Lima Refinery.
  • 2010s


    • Sold the Prince George Refinery as part of an increased focus on its Integrated Corridor and Offshore businesses.
    • First oil achieved at the 10,000 bbls/day Dee Valley thermal bitumen project.


    • First oil achieved at the 10,000 bbls/day Rush Lake 2 thermal bitumen project.
    • Exceeded design capacity at the Sunrise Energy Project and Tucker Thermal Project.
    • Increased throughput capacity at the Lima Refinery, through operational efficiencies, to 175,000 bbls/day.
    • LLB Direct pipeline and additional 300,000-barrel storage tank at Hardisty came online.
    • Increased working interest in Liuhua 29-1 field offshore China to 75 percent.
    • Signed Production Sharing Contracts for two exploration blocks in the Beibu Gulf offshore China.


    • Sanctioned Liuhua 29-1, the third deepwater gas field at the Liwan Gas Project.
    • Acquired the 50,000 bbls/day Superior Refinery, located in Superior, Wisconsin.
    • Sanctioned the 10,000 bbls/day Westhazel and Edam Central Lloyd thermal projects.
    • Approved development of the West White Rose Project, which will use a fixed wellhead platform offshore Newfoundland and Labrador, and tie back to the SeaRose floating production, storage and offloading vessel.
    • First production from the liquids-rich BD Project offshore Indonesia.
    • Announced a light oil discovery at Northwest White Rose, which is being assessed.
    • Signed a Production Sharing Contract for exploration Block 16/25, located in the Pearl River Mouth Basin offshore China.


    • Husky‘s Board of Directors appointed Rob Peabody President & Chief Executive Officer.
    • First oil achieved at the Hibernia formation well at North Amethyst, offshore Newfoundland and Labrador.
    • Sold 27,000 barrels of oil equivalent per day (boe/day), including royalty interests, in Western Canada for $1.3 billion as part of strategy to build a more capital efficient business.
    • First oil achieved at the 4,500 barrels per day (bbls/day) Edam West Lloyd thermal bitumen project.
    • Formed the Husky Midstream Limited Partnership after selling a 65 percent ownership interest in select midstream assets in the Lloydminster region for $1.7 billion. Husky retained a 35 percent interest and remains the operator.
    • Installed a sustaining pad at the Tucker Thermal Project, with average production increasing to 20,000 barrels per day.
    • First oil achieved at the 10,000 barrels per day Edam East and Vawn Lloyd thermal bitumen projects.


    • First oil achieved at the 10,000 barrels per day Rush Lake Lloyd thermal bitumen project.
    • First production at the South White Rose extension in the Jeanne D‘Arc Basin offshore Newfoundland and Labrador.
    • Production delivered at the Sunrise Energy Project.
    • Production sharing contract signed for the 15/33 block in the Pearl River Mouth Basin offshore China.


    • Production delivered at the Liwan Gas Project offshore China.
    • First oil achieved at the 3,500 barrels per day Sandall Lloyd thermal bitumen project.
    • Sanctioned crude oil flexibility project at the Lima Refinery, which will allow for the processing of up to 40,000 barrels per day of heavy crude feedstock.
    • Sanctioned Lloyd thermal bitumen projects at Edam East and Vawn, each with a design rate of 10,000 barrels per day.


    • The Bay du Nord and Harpoon deepwater oil discoveries made in the Flemish Pass Basin offshore Newfoundland and Labrador, near the previously announced Mizzen discovery.
    • Installed new kerosene hydrotreater at the Lima Refinery.
    • Husky celebrated its 75th anniversary.


    • First oil achieved at Pikes Peak South and Paradise Hill Lloyd thermal bitumen projects.
    • Sanctioned 10,000 barrels per day Rush Lake Lloyd thermal bitumen project.
    • Four new gas discoveries made in the Madura Strait Block offshore Indonesia.
    • Commissioned 250-tonne/day carbon dioxide capture facility in Lloydminster, Saskatchewan.


    • Sanctioned development of principal fields of the Liwan Gas Project in the Asia Pacific Region.
    • First horizontal wells spudded at the Sunrise Energy Project in northeastern Alberta.
    • First oil achieved from the West White Rose pilot in the Atlantic Region.
    • Acquired two exploration licences in the Slater River area of the Northwest Territories and access and benefits agreements signed with area stakeholders.
    • Husky‘s Lima Refinery celebrated 125 years of operation.


    • First production achieved at the light oil North Amethyst field offshore Newfoundland and Labrador. North Amethyst was the first satellite field development at Husky‘s White Rose project and the first subsea tieback project in Canada.
    • Asim Ghosh appointed President & Chief Executive Officer.
    • Received approval from Government of Indonesia for extension to existing Madura Strait Production Sharing Contract, including the BD and MDA fields.
    • Purchased oil and natural gas properties in Alberta and northeast British Columbia. Purchased natural gas properties in west central Alberta.
    • Sanctioned Phase 1 of the Sunrise Energy Project.
  • 2000s


    • Government of Newfoundland and Labrador became an official partner in the White Rose expansion project through Crown Corporation Nalcor Energy.
    • Husky‘s HOIMS Owners Team launched an implementation plan for integrating the Husky Operational Integrity Management System (HOIMS) across the Company.
    • Purchased Penn West heavy oil properties.
    • Purchased 98 retail outlets from Suncor Energy Inc. in the Ontario market.


    • Husky and BP agreed to create an integrated refining and oil sands business.
    • Acquired exploration lands in the Columbia River Basin, in Washington and Oregon, U.S.
    • Agreed to a joint venture with CNOOC to develop the Madura BD gas field offshore Indonesia.
    • Commissioned 130 million litres per year Minnedosa Ethanol Plant in Minnedosa, Manitoba.
    • Commenced development of the North Amethyst project offshore Newfoundland and Labrador.
    • The GSF Grand Banks began drilling the Mizzen prospect in the Flemish Pass Basin, offshore Newfoundland and Labrador.
    • The West Hercules deepwater sea rig spudded the first appraisal well at the Liwan Gas Project offshore China.


    • Purchased the 160,000 bbls/day Lima Refinery in Lima, Ohio, U.S.
    • Established Husky Logistics to haul heavy oil and salt water from field operations.
    • Throughput capacity at the Lloydminster Upgrader expanded to 82,000 bbls/day.
    • Acquired three exploration blocks offshore Greenland.


    • Construction completed at Tucker Thermal Project.
    • Significant natural gas discovery made at Liwan, offshore China.
    • Commissioned the Lloydminster Ethanol Plant, with an annual production capacity of 130 million litres.


    • First production achieved at the light oil White Rose field.


    • Received regulatory approval and sanctioned the construction of the Tucker Thermal Project.
    • Acquired 68.7 percent working interest from its partner in the Madura BD and MDA natural gas fields, offshore Indonesia.
    • SeaRose floating production, storage and offloading (FPSO) vessel arrived in Newfoundland and Labrador for final assembly and commissioning.


    • Acquired Marathon Canada Limited and the Western Canadian assets of U.S.-based Marathon Oil.
    • Announced endowment to establish the Husky Energy Chair in Oil and Gas Research at Memorial University, Newfoundland.


    • Light oil production commenced at Terra Nova, offshore Newfoundland and Labrador; and Wenchang, offshore China.


    • The Wenchang FPSO was launched.
    • Filed the White Rose Development Plan.
    • Acquired Avid Oil and Gas and Titanium Oil and Gas.


    • Acquired Renaissance Energy and became a publicly-listed company on the Toronto Stock Exchange.
    • John C.S. Lau appointed President & Chief Executive Officer.
    • Signed an agreement with CNOOC to jointly develop the Wenchang oil field offshore China.
  • 1990s


    • Commissioned the Meridian Cogeneration Plant which generated thermal energy for the Upgrader and marketed electricity to the Saskatchewan power grid.


    • Opened a regional office in St. John‘s, Newfoundland and Labrador.
    • Acquired the remaining 50 percent ownership in the Bi-Provincial Upgrader at Lloydminster, Saskatchewan.
    • Acquired Mohawk Canada and its ethanol plant at Minnedosa, Manitoba.
    • Purchased East Coast properties from Talisman Energy Inc. and Gulf Canada Resources Ltd.
    • Acquired additional interests in the White Rose Field from Denison Mines Ltd and Norsk Hydro.


    • Announced a joint venture oil exploration agreement offshore China with CNOOC.


    • Husky and China National Petroleum Corporation signed a memorandum of understanding and entered into a joint venture incremental production project in China.
    • Husky celebrated 50 years of operation in the Lloydminster area.
    • Acquired 30 service stations from Gasland Oil Ltd.


    • Acquired Norcen interests in the White Rose and Terra Nova fields.
    • Husky and the Saskatchewan Government acquired Bi-Provincial Upgrader (50/50).


    • The Bi-Provincial Upgrader in Lloydminster, Saskatchewan officially opened, a joint venture with Husky and the governments of Canada, Alberta and Saskatchewan.


    • Hutchison Whampoa and Li Ka-shing became Husky‘s majority shareholders.
  • 1980s


    • Husky acquired Canterra Energy.


    • Pursued private ownership with Hong Kong investor Li Ka-shing.


    • Curtailed operations and sold assets when oil dropped below $10 a barrel.


    • Sold its U.S. assets including service stations.


    • Opened a new 25,000 bbls/day refinery in Lloydminster, Alberta.


    • Began exploration in the Beaufort Sea and offshore Newfoundland and Labrador.
  • 1970s


    • NOVA Corporation (formerly known as Alberta Gas Trunk Line) gained control of Husky.


    • Bought the marketing and refining assets of Union Oil Company including the Prince George Refinery and 110 service stations.
    • Canadian retail outlets started flying large Canadian flags.


    • Began exploration of the Athabasca oil sands.
  • 1960s


    • To honour Canada‘s Centennial, the Company built the 191-metre Husky Tower, which was later sold and renamed the Calgary Tower.
    • Purchased the refining and marketing assets of the Frontier Refining Company. The two Frontier refineries brought Husky‘s refining capacity to 45,800 bbls/day and retail outlet network to 1,223 outlets in the U.S. and 408 outlets in Canada.


    • Husky Oil acquired the outstanding shares of the U.S. Company.
  • 1950s


    • Purchased a bunker oil ship to fuel ships on the Great Lakes.


    • Purchased a refinery in Moose Jaw, Saskatchewan.
    • Moved into Ontario with the purchase of a small refinery and a string of retail outlets.


    • Husky‘s Canadian operations were incorporated under the name Husky Oil Ltd. with shares issued in both Canada and the United States.


    • The first offering of Husky common shares was made in the United States.
  • 1940s


    • The first Husky common shares were issued to the public in Canada.


    • Opened the Lloydminster Refinery.


    • Moved the Riverton, Wyoming refinery to Lloydminster, Alberta, Canada to process heavy oil into asphalt and bunker fuel.


    • Demand escalated for bunker fuel for U.S. Navy ships when the United States entered World War II.
  • 1930s


    • The Husky Refining Company was incorporated in Cody, Wyoming, U.S.