The Company was founded in 1982 under the Canada Business Corporations Act companies, to manage the investments that have him assigned and to privatize its holdings, the appropriate. It reports to Parliament through the Minister of Finance.
CDEV is a holding company with the following wholly-owned subsidiaries for which it is responsible: Canada Hibernia Holding Corporation, which owns and manages an 8.5% interest in the Hibernia oilfield; Canada Eldor Inc., which has no business, but is liable for service liabilities, arising primarily from a purchase and sale agreement with Cameco Inc. entered into in 1988; On August 31, 2018 Trans Mountain Corporation, a subsidiary of CDEV purchased the entities that own and operate the Trans Mountain pipeline system between Edmonton, AB and Burnaby, British Columbia and Washington State. The purchase price was $ 4.45 billion. The purchase was financed by Canada Loans Account managed by Export Development Canada.Trans Mountain Corporation is operated by a Calgary-based management team.