List of Canadian petroleum companies
[8] According to a University of Calgary petroleum geologist, most oil sands companies in 2011 were still using 1980s recovery process technologies.
[9] By 2001, the first commercial steam-assisted gravity drainage facility was started, and by 2011, there was more oil extracted from the oil sands using in situ steam-assisted gravity drainage (SAGD) than traditional bitumen strip mining extraction with its massive trucks, tailings ponds.
[10] By 2005, the petroleum industry in Canada began a major shift as oil producers renewed an interest in research and development projects to improve bitumen extraction technology and processing methods.
[81][82][83] It operates in Alberta, British Columbia, Nova Scotia, Colorado, Wyoming, Texas and Louisiana and had the largest reserve base among Canadian producers as recently as 2007.
[84] At the end of 2009 Encana created Cenovus Energy when it split its integrated oil and natural gas components.
[85] In February 2012 Encana sold 40% of its 100% interest in the Cutbank Ridge Complex, a natural gas resource in NE British Columbia.
About a decade later Husky ran into financial problems that were solved when Hong Kong billionaire Li Ka-shing started investing in the company leading to a buy out of Blair's interests in 1991.
After a turbulent couple decades, Husky reasserted itself as a major Canadian petroleum company in 2000 by purchasing Renaissance Energy Ltd. in a $3.02 billion deal.
Husky Energy has proven petroleum reserves of 430,000,000 barrels (68,000,000 m3) and 2 trillion cubic feet (5.7×1010 m3) of natural gas.
By the late 1950s its main pipeline was almost 2,000 miles (3,200 km) long handling about 200,000 barrels (32,000 m3) of oil per day in certain sections.
In the late 1960s refineries in the US and Canada demanded more oil be delivered from Canadian sources, and the solution deemed best by management, and government officials was to build a new line through Chicago.
Cenovus Energy owns a 50% interest in two major US refineries operated by Phillips 66, which can act as a natural hedge for the company as commodity prices fluctuate.
Originally BP Canada, Talisman Energy is a publicly traded Tsx 60 petroleum company that operates in Canada, USA, Columbia, Scotland, Peru, Algeria, Tunisia, UK, Norway, Indonesia, Malaysia, Vietnam, Australia, and Qatar.
[93] On November 29, 2011 Nexen sold 40% of its Horn River, Cordova and Liard basins shale-gas assets in northeast B.C.
[94] At the Long Lake project oil is upgraded by a process known as steam assisted gravity drainage.
Dropping out of the list was Canadian Oil Sands Ltd, Pacific Rubiales Energy in 2015, Penn West Petroleum in 2013, Arc Resources in 2012.
