with progress energy inc. progress energy type subsidiary industry oil and gas headquarters calgary alberta canada key people michael r. culbert president and ceo parent petronas website www.progressenergy.com progress energy is a natural gas exploration and production company based in calgary alberta canada . as of 2016 it is the most active driller in british columbia . 1 since 2012 the company has been owned by malaysia based petronas . 1 contents 1 history 2 operations 3 corporate governance 4 see also 5 references 6 external links history edit in 2001 progress energy ltd. was recapitalized by members of the current management team . in 2004 progress merged with cequel energy inc. to form progress energy trust and proex energy ltd. ; 2004 is given as the founding date of progress energy canada ltd. in official filings . 2 in 2007 progress and proex acquired bg group s canadian assets in northeast british columbia and northwest alberta . in 2009 progress and proex combined to form progress energy resources corp. with production of over 35 000 bbl d 5 600 m3 d equivalent . in 2010 progress acquired suncor energy s northeast british columbia assets bringing total production to over 40 000 bbl d 6 400 m3 d equivalent . in june 2012 petronas carigali canada a subsidiary of petronas announced its intent to acquire progress energy for c 5.5 billion . 3 on october 19 2012 the canadian government rejected the acquisition citing that the proposed investment is not likely to be of net benefit to canada . 4 however the canadian government encouraged petronas to reapply with a new offer and the deal was approved on december 7 2012 . 5 operations edit progress is focused on natural gas development in western canada . the company s assets are concentrated in the foothills of northeast british columbia and the deep basin of northwest alberta where it has built a land reserves and production base . corporate governance edit current members of the board of directors of progress energy are david d. johnson michael r. culbert donald f. archibald john a. brussa howard crone r.scott lawrence brian mclachlan gary e. perron terrance svarich see also edit history of the petroleum industry in canada natural gas natural gas canadian centre for energy information references edit a b rose james july 12 2016 . british columbia s most active operator is progress energy . boe reports . retrieved august 21 2016 . progress energy canada ltd. . sedar . retrieved august 21 2016 . petronas in 5.4 bn progress buy . upstream online . nhst media group . 2012 06 28 . retrieved 2012 06 28 . canada rejects petronas s bid for progress energy . reuters . 2012 10 20 . retrieved 2012 10 20 . http www.canada.com news national government approves cnooc nexen petronas progress takeover bids 7668195 story.html external links edit official website retrieved from https en.wikipedia.org w index.php title progress energy resources & oldid 735616428 categories companies formerly listed on the toronto stock exchangenatural gas companies of canadacompanies based in calgary2004 establishments in albertaenergy companies established in 2004 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 21 august 2016 at 23 43 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view