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.