 WRB was formed on 1 July 2007, with Encana taking a 49% interest in Wood River and also Phillips 66's Borger refinery.Encana subsequently spun off oil sands producer Cenovus and ConocoPhillips spun off Phillips 66.In return for a 49% stake in the refinery, ConocoPhillips gained a joint interest in two Alberta oil sands (bitumen) heavy oil projects