Encana Corporation was a Canadian independent petroleum company that existed from 2002 to 2020. The company, stylised as EnCana until 2010, was created by David P. O'Brien of PanCanadian Petroleum and Gwyn Morgan of the Alberta Energy Company through the merger of their companies. At the time of its creation Encana was the world's largest independent petroleum company by measure of its value, production, and reserves. Morgan ran the company from its inception through the end of 2005. During its early years, Encana established its reputation as Canada's flagship energy company and an icon of We
Encana Corporation was a Canadian independent petroleum company that existed from 2002 to 2020. The company, stylised as EnCana until 2010, was created by David P. O'Brien of PanCanadian Petroleum and Gwyn Morgan of the Alberta Energy Company through the merger of their companies. At the time of its creation Encana was the world's largest independent petroleum company by measure of its value, production, and reserves. Morgan ran the company from its inception through the end of 2005. During its early years, Encana established its reputation as Canada's flagship energy company and an icon of Western Canadian business. In September 2005 it became Canada's largest corporation by market capitalisation for a brief time.
At the beginning of 2006, Morgan ceded the presidency to Randall K. Eresman. During the new president's first year, the company's profits were CAD 6.4 billion, which was the largest corporate profit in Canadian history. In 2009 Encana spun off its oil producing operations as Cenovus, thus becoming exclusively a natural gas producer. Eresman resigned abruptly in early 2013 and was replaced by the American Douglas J. Suttles. The new president streamlined the company's operations and shifted its focus to the United States. Suttles also oversaw the company's return to crude oil production via shale plays in the US.
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