How Do I Open a Franchise In Canada?

Canadian Energy Corporation, headquartered in Calgary, Alberta, was established in 2002. EnCana was formerly known as PanCanadian Petroleum Limited. Pan-Canadian Petroleum is one of Canada's largest oil, gas and gas production companies. Pan-Canadian Petroleum's business involves the exploration, development, production and sales of crude oil, natural gas and natural gas liquids. Its business activities are concentrated in western Canada. In addition, the company has operations in the Netherlands, Russia, Kazakhstan, and Libya, has commercial interests in Indonesia, and natural gas sales facilities in Canada and the United States. The company trades on the Toronto Stock Exchange and the New York Stock Exchange: ECA

Canadian Energy Corporation

Canadian Energy Corporation, headquartered in Calgary, Alberta, was established in 2002. EnCana was formerly known as PanCanadian Petroleum Limited. Pan-Canadian Petroleum is one of Canada's largest oil, gas and gas production companies. Pan-Canadian Petroleum's business involves the exploration, development, production and sales of crude oil, natural gas and natural gas liquids. Its business activities are concentrated in western Canada. In addition, the company has operations in the Netherlands, Russia, Kazakhstan, and Libya, has commercial interests in Indonesia, and natural gas sales facilities in Canada and the United States. The company trades on the Toronto Stock Exchange and the New York Stock Exchange: ECA

company name

Canadian Energy Corporation

Foreign name

PanCanadian Petroleum Limited

headquarter address

Canada

Established

year 2002

Business Scope

Oil, Gas Liquid and Gas Manufacturing Companies

Company Type

Listed company

Stock code

ECA

The company's history can be traced back to the Canadian Pacific Railroad Corporation (hereinafter referred to as CPR) and the Alberta petroleum industry. As early as 1883, CPR workers discovered natural gas for the first time while drilling a well in the Medicine Hat area of Western Canada's Alberta. A few years later, CPR drilled its first natural gas production well in the area. The discovery and subsequent drilling activities have led to the construction of a series of natural gas-based plants in the Medicine Hat and Redcliffe areas. As CPR continues to discover oil and gas deposits in Saskatchewan and Alberta, the company has gradually shifted its investment to the development of these reservoirs. In 1947, CPR discovered the Ladakh gas field. In 1958, the company decided to establish the Canadian Pacific Oil and Gas Company (CPOG) and actively participated in the activities of the petroleum industry. In 1970, the Canadian Pacific Oil and Gas Company merged with Middeleo Petroleum Company, and later changed its name to Pan-Canadian Petroleum Company.

In 1994, Pan-Canadian Petroleum Corporation s daily output of conventional crude oil, synthetic crude oil, and oilfield natural gas liquid was 130,000 barrels, and natural gas was 574 million cubic feet.

In Canada, oil drilling production in a truly commercial sense started in 1858, and the earliest and currently largest oil company, Imperial Oil, was founded in 1880. With the acquisition of Imperial Oil in 1898 by the American oil tycoon Rockefeller's Standard Oil and the establishment of a subsidiary by Royal Dutch / Shell in 1911, the untapped oil and gas industry Began to be mostly controlled by large multinational oil groups. These oil giants have provided indispensable capital and technology for the development of Canadian oil and gas resources such as exploration, production, refining, transportation, and sales; on the other hand, they have also caused excessive concentration of foreign capital in the Canadian energy market and lack of competitiveness in the market. Issues, especially sensitive national security issues. The characteristics of the Canadian economy and energy industry and the development of the world's energy market prompted the Canadian government's energy policy to go through a process of promoting development-strengthening government regulation-deregulation-market-oriented evolution and development, which also includes the desire of the Canadian government The process of gradually regaining control of domestic energy resources.

China National Petroleum Corporation announced on February 10, 2011 that it had signed a cooperation agreement with Canadian Energy through its subsidiaries to acquire 50% of Canadian natural gas assets for $ 5.4 billion.

The agreement was signed by PetroChina's subsidiary PetroChina International Investment Co., Ltd. and Canadian Energy Corporation, and the target asset is Canadian Energy's Junling Oil Region in British Columbia and Alberta, Canada.

This asset includes 1.3 million acres of exploration and development production blocks, approximately 700 million cubic feet of natural gas processing capacity per day, 3,400 kilometers of gathering pipelines and an underground gas storage. According to the agreement, the two parties will increase development efforts and increase natural gas production through joint ventures and cooperation based on a 50% investment ratio. In the early stages, Canadian Energy will continue to be the operator of the joint venture and will be responsible for the sales of related products. The joint venture project will operate under the guidance of the Joint Management Committee.

Randy Erisman, President and CEO of Canadian Energy Corporation, said that the signing of this agreement is the result of more than 9 months of negotiations between PetroChina and Canadian Energy Corporation, and is an important achievement and milestone in the development of the cooperative relationship between the two parties. Through this joint venture project, CNPC joined the development of resources, which can accelerate project development, can use more investment, and improve operational efficiency through technological progress and a more defined long-term development plan.

A person in charge of PetroChina International Investment Co., Ltd. stated that PetroChina has comprehensive advantages in the fields of global oil and gas exploration and production, engineering design and oilfield services; Canadian Energy Corporation has a strong advantage in the field of unconventional natural gas development. Through a strong alliance, this joint venture project will create good value returns for shareholders of both parties, enhance the competitiveness of the Canadian natural gas industry, and promote economic development and employment opportunities in Canada and China.

The person in charge said that PetroChina has been seeking opportunities to cooperate with large professional oil and gas companies in Canada for many years, including opportunities in Canadian LNG and oil sands and business cooperation opportunities in China. It is hoped that this cooperation project can become an important platform for CNPC to enter the high-end market in North America.

It is understood that the completion of this transaction will depend on the completion of due diligence, the signing of a joint venture and cooperation agreement, the approval of the company's board of directors, and the approval of relevant Chinese and Canadian government departments.