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Many of the fields were found by Imperial Oil, but other major oil companies, such as British-American oil, Gulf, Anglo-Canadian, and Home Oil, also experienced incredible success. The greatest discovery, in terms of quantity, size, and overall effect on the industry was the discovery of the Pembina oil field by Mobil Oil in February 1953.
Oil sands deposits in Alberta, Canada. It is difficult to grasp the immensity of Canada's oil sands and heavy oil resource. Fields in northern Alberta include four major deposits which underlie almost 70,000 square kilometres of land. The volume of bitumen in those sands dwarfs the light oil reserves of the entire Middle East.
Alberta government levies its first royalty, at five percent, on oil and gas production. [8] [better source needed] 1939 Shell opens exploration offices in Alberta. [9] [better source needed] February 13, 1947 Leduc No. 1 strikes oil starting Alberta's post-World War II oil boom. 1947 ATCO is incorporated. [10] June 1948 Calgary Petroleum Club ...
Oil sands were by then the source of 62% of Alberta's total oil production and 47% of all oil produced in Canada. [33] As of 2010, oil sands production had increased to over 1.6 million barrels per day (250,000 m 3 /d) to exceed conventional oil production in Canada. 53% of this was produced by surface mining and 47% by in-situ techniques.
There once were four oil refineries in the Vancouver area, but Imperial Oil, Shell Canada, and Petro Canada converted their refineries to product terminals in the 1990s and now supply the BC market from their large refineries near Edmonton, Alberta, which are closer to Canada's oil sands and largest oil fields. [30]
Although locals boasted at the time that it was "the biggest oil field in the British Empire", Turner Valley was not a large field by later standards. (By way of comparison, the Pembina field in central Alberta - Canada's largest - had recoverable reserves of about 100 million cubic metres.)
The two fields were combined to form the Leduc-Woodbend oil field, [32] and within a decade it was the third largest oil field in Canada. [12] Imperial discovered a larger field northeast of Edmonton near the village of Redwater in 1948. [32] Gulf Canada discovered a major field near Stettler in the central part
Oil pumps next to Falher, Alberta Canada proved oil reserves: conventional crude oil in red (data from OPEC) and total proved reserves including from oil sands in black (data from US Energy Information Administration) Conventional crude oil reserves in Canada (excludes condensate, natural gas liquids, and petroleum from oil sands).
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