Encana Corporation
| EnCana Corporation
|
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|---|---|
 |
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| legal form | Corporation |
| ISIN | CA2925051047 |
| founding | 2002 |
| Seat | Calgary , Canada |
| management | Douglas J. Suttles ( CEO ) |
| Number of employees | 2,726 |
| sales | 4,422,000,000 US dollars |
| Branch | mineral oil and natural gas |
| Website | www.encana.com |
| As of December 31, 2015 | |
EnCana Corporation is a Canadian company based in Calgary , Alberta . The company is listed on the S & P / TSX 60 stock index on the Toronto Stock Exchange . The company name ( company ) EnCana is composed of the first letters of the words Energy , Canada and Alberta .
history
At the time of the Canadian Pacific Railway's inception , the Canadian government took the risk of developing the railroad that would connect the east and west coasts of Canada by granting extensive perks, including the right to practically travel across vast swathes of land along the route to purchase for free. Associated with this are rights to mine mineral resources that were later transferred to Encana. In 1883, the Canadian Pacific Railway was drilling for water near Medicine Hat, Alberta and discovering natural gas.
In 1958, Canadian Pacific Limited established the Canadian Pacific Oil and Gas company to manage its own oil and gas affairs and mining rights. In 1971, Canadian Pacific Oil and Gas merged with Central Del Rio Oils. The new company was called "Pan Canadian Petroleum Limited".
In 2002 Pan Canadian Petroleum Ltd was separated from Canadian Pacific Railway. This was followed by a merger with "Alberta Energy Corporation" to "Encana". In April 2002, EnCana began operations under CEO Gwyn Morgan. "The original goal [was] ... to create a large company that could not be acquired," with assets in Ecuador and the North Sea and exploratory rights in Chad, Ghana, Brazil, Australia, Mackenzie Delta and the Middle East.
In 2009, the EPA announced that hydrocarbon contaminants had been found in drinking water wells in Pavillion, Wyoming. In November 2009, Encana was split into a company with a focus on North American natural gas production, which accounted for about two thirds of the previous production and reserves and continued the name, and an oil company called Cenovus Energy .
In 2011 Encana was included in the “Dow Jones Sustainability Index”. In November 2011, a potential buyer secured the Pavillion gas field. In 2011, net income dropped to $ 128 million from more than a billion a year ago.
In February 2012 Mitsubishi acquired a 40 percent interest in the Cutbank Ridge partnership with Encana for $ 2.9 billion, which includes 409,000 acres of natural gas production in the Montney Formation in northeast British Columbia. In December 2012, Encana announced a $ 2.1 billion joint venture with the state-owned Chinese company Petrochina. This would have held 49.9 percent of the mining rights of the Encana Duvernay Formation in Alberta. This would have been in line with Canadian takeover rules, since Prime Minister Stephen Harper had issued a ban on December 7, 2012, on foreign state-owned companies investing majority shares in Canadian oil sands. However, the entry did not materialize.
In September 2013, the company cut the dividend by two thirds. In November 2013, Encana announced a "restructuring plan" that would lay off 20 percent of its employees and close its Plano, Texas office. Furthermore, assets are to be sold and a separate company for mining rights and licenses is to be founded in southern Alberta.
In September 2014, Encana announced it would acquire Athlon Energy Inc for $ 5.93 billion. In May 2014, a subsidiary of the Texas Pacific Group (Jonah Energy LLC) acquired the Jonah natural gas field in Sublette County, Wyoming from Encana, United States, for $ 1.8 billion.
Activities in Canada
Encana is Canada's largest natural gas producer with access to 7.0 million acres (1 acre corresponds to approximately 4046.8 m²) in western Canada, of which approximately 3.2 million acres are not yet produced.
Encana natural gas resources are located in: Bighorn in west central Alberta , Coal Bed Methane , Cutbank Ridge in north British Columbia , Peace River Arch in north west Alberta, Clearwater in south Alberta, Greater Sierra in north east British Columbia, and Duvernay Formation in central West of alberta. The Deep Panuke project has been producing and processing natural gas from an area 250 kilometers off the coast southeast of Halifax since 2013 .
As of December 31, 2012, the Bighorn project with 307,000 acres in the west of Alberta was developed with Resthaven, Kakwa, Redrock and Berland as important sub-areas. In 2012, Encana set up 31 production sites and produces approx. 242,000 barrels of natural gas per day and approx. 5,800 barrels of oil and liquid gas.
As of December 31, 2012, Encana controlled 467,000 acres in the Cutbank Ridge area (foothills of the Canadian Rockies ), of which 85,000 acres has been mined since 2006 near Dawson Creek .
Encana mines in the Montney Formation on the Peace River Arch in northwest Alberta, where it has approximately 254,000 acres. As of December 31, 2012, around 26 production sites were producing 108,000 barrels of natural gas per day and 2,900 barrels of oil and liquid gas per day under license. Encana is 60% owner of the Sexsmith Plant with a total capacity of 115,000 barrels per day. The company has sold pressure and manifolds in the Sexsmith and Pipestone areas. At the same time, in the Gordondale Sour Gas Deep Cut Plant, production began with a processing capacity of 50,000 barrels per day.
Activities in the USA
Encana Oil & Gas (USA) Inc. is the US subsidiary of Encana Corporation and is headquartered in Denver , Colorado . The company has access to approximately 2.6 million acres in the United States. In December 2011, Encana completed the sale of a majority interest in its northern Texas natural gas production fields. At the moment the main production areas in the USA are: the "Haynesville Shale" in the southwest of Arkansas, the northwest of Louisiana and East Texas , the "Jonah Field" in Wyoming, the "Wattenberg Gas Field" in the Denver-Julesburg Basin in the northeast of Colorado, the to extends into Wyoming and Nebraska and the "Piceance Basin" in Colorado. Between 2008 and 2010, Encana acquired mining rights for the "Collingwood-Utica Shale" in Michigan. It also has oil interests in the "San Juan Basin" in New Mexico and the "Tuscaloosa Marine-Shale" on the border between Mississippi and Louisiana.
criticism
Six attacks were carried out on several of the company's gas pipelines in British Columbia in nine months. In four of these attacks, investigators assumed that they were committed by an angry member of the local population.
EnCana is also criticized for the deep drilling method known as fracking . The Oscar- nominated documentary Gasland from 2010 depicts the effects of this method used by EnCana on surface and groundwater and on the air and soil in the USA.
Individual evidence
- ↑ Leadership
- ↑ a b Annual Report 2015
- ↑ Groundwater Investigation Pavilion. www.epa.gov, accessed April 29, 2015 .
- ^ Encana announces dividing into two companies. www.thestar.com, accessed April 29, 2015 .
- ↑ Canada: Encana Completes Cutbank Ridge Deal with Mitsubishi. www.encana.com, accessed April 29, 2015 .
- ↑ Encanas PetroChina partnership may be first of many. (No longer available online.) Www.ualberta.com, archived from the original on December 3, 2013 ; Retrieved April 29, 2015 .
- ↑ Dividends. www.encana.com, accessed April 29, 2015 .
- ^ Encana Announces Transformative Acquisition of Athlon Energy. www.encana.com, accessed April 29, 2015 .
- ^ Encana to Sell Its Jonah Field Operations in Wyoming. www.encana.com, accessed April 29, 2015 .
- ↑ annual report 2013. (PDF) www.encana.com, accessed on April 29, 2015 .
- ^ Company Profile. www.reuters.com, accessed April 29, 2015 .
- ↑ Deep Panuke project reaches full gas production. www.thechronicleherald.ca, accessed April 29, 2015 .
- ↑ Canada: Repeated attack on gas pipeline. shortnews.de, July 15, 2009, accessed on May 20, 2012 .
- ↑ Latest EnCana pipeline explosion was deliberate: RCMP. cbs news, July 2, 2009, accessed May 20, 2012 .
- ↑ Markus Ziener: Controversial gas production. Pressed out of the ground. Handelsblatt, July 8, 2011, accessed on May 20, 2012 .