It is one of 87 districts mandated to return a single member to the Legislative Assembly of Alberta using the first-past-the-post method of voting.

It was created in the 1993 boundary redistribution from Calgary-Shaw, and is named in honour of former premier Peter Lougheed, who held the nearby seat of Calgary West from 1967 to 1986.

The riding was vacant for a period following the resignation of the former premier of Alberta, Jason Kenney of the United Conservative Party.

In the 2010 Boundary redistribution all land east of 14 Street was cut out of the riding and given to Shaw and Calgary-Fish Creek.

The 2004 election saw Progressive Conservative candidate Dave Rodney win a very large majority to hold the seat for his party.