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EnCana Corporation
Type (TSXECA, NYSEECA)
Founded 2002
Headquarters Canada Calgary, Alberta, Canada
Key people Randy Eresman (President & CEO)
David P. O'Brien (Chairman of the Board)
Industry Oil and Gas
Products Gas, Oil
Revenue $30.064 billion USD (2008) [1]
Employees 8,000 (2009)[2]
Website www.encana.com

EnCana Corporation is North America's largest natural gas producer, with more than 80 percent of its production being natural gas. The company produced 1.4 trillion cubic feet of natural gas in 2008 - enough to heat nearly 11 million homes for one year.

EnCana was formed in 2002 with the merger of PanCanadian Energy and Alberta Energy Company. The corporate headquarters are in Calgary, Alberta. In Canada, EnCana has operations in Alberta, northeast British Columbia and southeast Saskatchewan 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 in the areas where the company operates. The company also invests in environmental initiatives, education, family and community wellness, sport and recreation, as well as science, trades and technology. EnCana matches donations given by its employees to recognized charities. In 2008, the company donated $36 million.

A new 58-story headquarters for EnCana's Calgary staff, called the Bow Building, is now under construction. It will be the tallest office tower in Canada outside of Toronto and is expected to be complete in 2011.[4]

In Dec of 2009, EnCana split the company into two independent companies focused on distinct businesses. The unconventional natural gas company retains the name EnCana and the integrated oil company is called Cenovus Energy. [5]

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]

A Facebook page[8] and websites like EnCanaLies.com have emerged in recent years in response to EnCana's refusal to engage its critics.[9]

Issues have also been raised for a proposed project offshore of Nova Scotia, for which EnCana has proposed a streamlined regulatory process.[10]

References

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