ConocoPhillips Canada is a fully owned subsidiary of ConocoPhillips based out of Houston. The company was formed in 2002 after the merger of Conoco Inc. and Phillips Petroleum Company, creating the third largest integrated energy company in the U.S. and sixth largest worldwide.
The company has a rich history in Canada dating back to the 1880s when Continental Oil Company, a predecessor to Conoco Inc., began marketing petroleum products in northwest Canada. Through its merger with Marland Oil Company in 1929, the company became a partner in the Hudson’s Bay Oil and Gas Company (HBOG). HBOG increased its acreage position in the 1940s and 50s, and in 1960 began shipping Canadian crude to Billings, Montana, refinery through a new link to Glacier pipeline.
The company expanded to become the sixth-largest Canadian producer in 1967. In 1981, Conoco sold its interest in HBOG to Dome Petroleum, which used as leverage its 20 percent share of Conoco.
Upon its return to Canada in 1984, the company acquired an interest in the Peco field in 1988. The company solidified its Peco interest in 1990 with acquisition of Petro-Canada’s lands in the area and over the past ten years made nine discoveries in the Foothills region. The company acquired producing properties from Renaissance Energy in 1999, and in 2000 acquired the midstream assets of Petro-Canada, including the Empress natural gas plant and a 580-mile pipeline to Winnipeg, Manitoba.
In July 2001, Conoco significantly solidified its position in Canada through the successful acquisition of Gulf Canada Resources Limited. The acquisition, completed in record time, was the largest oil and gas deal in Canadian history. It immediately increased Conoco’s North American natural gas production and proved natural gas reserves by 50 percent, and worldwide total reserves – oil, natural gas and Syncrude – by 40 percent.
In March 2006, ConocoPhillips completed the acquisition of Burlington Resources, expanding the company’s portfolio of high-quality, low-risk, long-life gas reserves. This included a significant expansion in Western Canadian conventional.
Today, ConocoPhillips Canada is focused on growing its business through investments in Western Canada conventional oil and natural gas, the Mackenzie Delta, offshore Canada’s east coast and its oil sands interests near Fort McMurray, Alberta.