Canada was the world's fifth-largest producer of both oil and natural gas in 2013, the most recent year for which world figures are available. It is not surprising, then, that oil and gas production firms dominate the ranks of the biggest Canadian energy companies. Of the top seven companies, five have massive production operations in conventional oil and gas reserves and oil sands. The other two are involved in power generation and delivery. All seven of the companies have a market capitalization greater than $10 billion.
Suncor Energy, Inc.
Suncor Energy, Inc. (NYSE: SU) is an integrated oil and gas company with operations across Canada and in the United States. The company's Canadian oil sands properties deliver the lion's share of its annual production, accounting for more than 420,000 barrels of oil per day in 2014. Its conventional oil and gas exploration and production business is also substantial, providing another 113,000 barrel of oil equivalents, or BOE, per day. Suncor is Canada's largest energy company with a market capitalization of $40.3 billion.
Imperial Oil Ltd. (TSX: IMO.TO) is an integrated oil and gas giant with total crude oil production of 279,000 barrels per day and natural gas production of 168 million cubic feet per day in 2014. In addition to refining and petrochemical operations, the company also markets fuel, lubricants and other products under the Esso and Mobil brands. Imperial Oil has a market capitalization of about $29.4 billion.
TransCanada Corp. (NYSE: TRP) is an energy conglomerate with operations in energy infrastructure and power generation. Its extensive oil and natural gas pipeline operations stretch across Canada and the U.S. In 2014, the company's pipelines delivered 20% of the natural gas consumed in North America and one-fifth of Canada's oil exports to the U.S. TransCanada also controls 10,900 megawatts of electricity generation capacity in Canada and the U.S., enough to power about 11 million homes. It has a market capitalization of $24.4 billion.
Canadian Natural Resources
Canadian Natural Resources Ltd. (NYSE: CNQ) is an exploration and production company with crude oil and natural gas operations in Western Canada and crude oil operations in offshore African waters and in the North Sea. The company produced a total of 530,000 barrels of oil per day and about 1.56 billion cubic feet of natural gas per day in 2014. Canadian Natural Resources has a market capitalization of $23.5 billion.
Husky Energy, Inc. (TSX: HSE.TO) is an integrated energy company with oil and gas production operations across Canada and in the South China Sea. It is also developing gas fields in offshore Indonesian waters. Husky Energy produced about 237,000 barrels of crude oil and 717 million cubic feet of natural gas per day in 2014. The company also operates oil refineries in Canada and the U.S., and sells gas and other refined petroleum products through Husky service stations in Canada. It has a market capitalization of $22.6 million.
Cenovus Energy, Inc. (NYSE: CVE) is another large integrated energy company with oil and gas exploration and production operations and a refinery business. In addition to conventional oil and natural gas properties, the company has substantial oil sands holdings, which it develops in partnership with ConocoPhillips. Cenovus Energy reported production of 203,500 barrels of oil per day and 488 million cubic feet of natural gas per day in 2014. The company has a market capitalization of $11.5 billion.
Fortis, Inc. (TSX: FTS.TO) is a power generation and electricity and gas distribution company. It operates regulated utilities serving more than 3 million people in Canada, the U.S. and the Caribbean. While the company's holdings in the regulated utility industry account for 93% of its assets, Fortis also owns nonregulated power generation facilities in Canada and the U.S.. The company has a market capitalization of $10.3 billion.