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| File:EnCana Logo.svg | |
| Company type | (TSX: ECA, NYSE: ECA) |
|---|---|
| Industry | Oil and gas |
| Headquarters | , Canada |
Key people | Randy Eresman (President & CEO) David P. O'Brien (Chairman of the Board) |
| Products | Gas |
| Revenue |  $6.732 billion USD (2009) [1] |
3,853,000,000 United States dollar (2022)  | |
| 3,637,000,000 United States dollar (2022) | |
Number of employees | 3,800 (2010)[2] |
| Website | www.encana.com |
Encana Corporation is one of North America's largest natural gas producers, with about 95 percent of its production being natural gas. Its strategy is to be a natural gas pure-play company focused on the development of unconventional resources. The company produced 1.1 trillion cubic feet of natural gas in 2009.
The corporate headquarters are in Calgary, Alberta. In Canada, Encana has operations in Alberta, northeast British Columbia as well as an off-shore operation called Deep Panuke in development off Nova Scotia. In the United States, Encana operates in Colorado, Wyoming, Texas and Louisiana.
Encana has received numerous awards for its environmental initiatives and is recognized on the Dow Jones Sustainability Index. In 2008 alone, Encana set aside $50 million CDN to be spent on new technologies that will increase energy efficiency. Another program, Encana's Environmental Innovation Fund, “supports technologies that reduce air emissions, increase energy efficiency, improve water conservation, enhance waste management, and develop new renewable energy.” [3]
Encana's community investment program supports projects and programs in the areas where the company operates. The company invests in environmental initiatives, education (specifically focused on science, trades and technology), community enhancement, family and community wellness, as well as sport and recreation. Encana matches donations given by its employees to recognized charities. In 2009, the company donated more than $30 million.
A new 58-story headquarters for Encana's Calgary staff, called The BOW, is now under construction. It will be the tallest office tower in Canada outside of Toronto and is expected to be complete in 2012.[4]
On November 30, 2009, Encana split into two independent companies focused on distinct businesses. The unconventional natural gas company retained the name Encana and the integrated oil company is called Cenovus Energy.[5]
History
In 1883, the Canadian Pacific Railway was drilling for water near Medicine Hat, AB when natural gas was accidentally discovered. In 1958, Canadian Pacific created Canadian Pacific Oil and Gas to manage its mineral rights as well as its oil and gas properties. PanCanadian was formed when Canadian Pacific Oil and Gas merged with Central-Del Rio Oils in 1971. In 2002, PanCanadian was spun out of Canadian Pacific and merged with Alberta Energy Corporation to form Encana. Presently, Encana (and now also Cenovus Inc.) still hold many mineral rights that the Federal government granted to CPR in the 1800s.
Criticism
Encana has been criticised by landowners and environmentalists, particularly over a protected area south of Calgary where the company proposed to drill several hundred natural gas wells. In northern British Columbia where Encana pipelines have experienced six explosions, media reports indicate the pipeline may have been bombed by disgruntled community members.[6][7] Encana's hydraulic fracturing operations in the U.S. are also visible in the 2010 documentary, Gasland, which alleges that hydraulic fracturing causes pollution of ground and surface water, as well as air and soil pollution.
Issues have also been raised for a proposed project offshore of Nova Scotia, for which Encana has proposed a streamlined regulatory process.[8]
References
- ^ 2009 Consolidated Financial Statements
- ^ "Company Profile for EnCana Corp (ECA)". Retrieved 2008-10-08.
- ^ Encana Environmental Innovation Fund
- ^ CBC Article (2006). "EnCana unveils plans for downtown Calgary office tower". CBC News. Retrieved 2006-01-06.
{{cite news}}: Unknown parameter|month=ignored (help) - ^ "EnCana announces dividing into two companies". The Star. Toronto. 2008-05-11. Retrieved 2010-05-02.
- ^ CBC, Aug 29. 2006, EnCana unveils smaller Deep Panuke project
- ^ CBC, July 2, 2009, Latest EnCana pipeline explosion was deliberate: RCMP
- ^ CBC, Aug 29. 2006, EnCana unveils smaller Deep Panuke project
