Cenovus Energy Inc. operates oil and gas fields and petroleum refineries with assets in Canada, the United States, China, and Indonesia. Operations are organized into three business units: Oil Sands, Deep Basin, Refining & Marketing. Common shares are listed on the TSX (CVE) and NYSE (CVE) exchanges.
In the 1880s, Canada commissioned the Canadian Pacific Railway (CPR) to build a transcontinental railroad. A CPR crew drilling for water made Alberta's first natural gas discovery in 1883. The company PanCanadian Energy Energy ultimately emerged from CPR. Alberta Energy came into being in the 1970s when the Alberta government created the company to provide an opportunity for citizens to take ownership in oil & gas-related growth in the province. In 2002, PanCanadian acquired Alberta Energy to form Encana. Cenovus was created in 2009 when Encana split into two distinct companies: Cenovus who focused on crude oil and Encana who focused on natural gas.