Canadian Chronological History in the oil industry
The above wooden rig was built on site at Acorn Point in 1935. Rig-site location is about 13.5 miles north of the village of Endeavour, Saskatchewan.
Built on the right side of the rig tower is a bunkhouse. The workers or rough necks, as they are now called, used it as their residence, to eat and rest.
According to a local historian, Norman Harris, the structure stood for over 40 years before collapsing in late seventies. It was constructed from lumber sawn nearby.
Norman said that he climbed to the top of the wooden tower in 1960. He stated that it was over 50 feet high.
Historical facts indicate that Pete Engineering Company built the rig in the picture and drilled five gas wells during 1934—1935 in the Bertwell and Reserve area .
Mr. Harris explained that Peter Rupchan, a devious local potter, spread rumors that he found gold nuggets on his land located near Usherville in the early thirties. This attracted a gold company which bought his quarter section for $3500.
The gold company decided to drill an exploration hole on the Rupchan property. In the final stages of drilling, Rupchan snuck up at night and poured some engine oil down the hole.
The gold company later reported that they didn’t find any gold but they discovered some traces of hydrocarbons.
This report caused a flurry of exploration for oil and natural gas in the east central region of Saskatchewan.
A special thank-you to a very active local historian, Norman Harris, for the excellent picture and his very interesting piece of history.
Last update Tuesday, April 23, 2019
Chronological History of Oil in Canada
1778 - Peter Pond recorded occurrence of bituminous sands at confluence of Athabasca and Clearwater Rivers.
1792 - Peter Fidler exploring in the Athabasca Region: "Found great quantities of bitumen, a kind of liquid tar oozing out of the banks on both sides of the river in many places, which has a very sulphurous smell and quite black like real tar, and in my opinion would be a good substitute for that useful mineral."
1820 - John Richardson made first scientific examination of Athabasca bituminous sands.
1857 - First oil production at Oil Springs, Ontario - from a shallow pit.
1858 - First drilling for oil at Oil Springs, Ontario.
1859 - Natural gas discovered in New Brunswick - flared as a waste product.
1866 - Natural gas discovered in Ontario - flared as a waste product.
1874- First oil well drilled near Fort Pelly, NWT now Saskatchewan.
1874 - George Dawson reported oil seeps in Waterton Area.
1880 - Ontario refining companies merged to form Imperial Oil Company.
1883- First successful gas well drilled in Saskatchewan near Belle Plain.
1883 - First gas found in Alberta - at Langevin, near Medicine Hat - while drilling water well for the CPR!
1889 - Eugene Coste drilled in Essex County, Ontario for natural gas to supply nearby communities.
1897 - Well drilled at Pelican Rapids - struck gas, blew out for 21 years.
1898 - Rockefeller acquired Imperial Oil Company.
1901 - First commercial gas field developed at Medicine Hat.
1902 - First commercial oil well drilled in Alberta at Cameron Ck - now in Waterton National Park.
1907 - Rudyard Kipling visited Medicine Hat and described it as having "all hell for a basement."
1909 - "Old Glory" well drilled at Bow Island and was largest gas well to that time in Canada. While it was successful it was drilled on the wrong location. Company that drilled was Canadian Pacific Railway.
1911 - Standard Oil Trust broken up, Imperial Oil became an affiliate of Standard Oil of New Jersey.
1912 - Gas pipeline built from Bow Island to Calgary (275 Km) by Canadian Western Natural Gas.
1913 - Canada’s first offshore natural gas well drilled on Lake Erie during the winter months in 1913.
1914 - First discovery of natural gas reservoir at Turner Valley (from Cretaceous) - Dingman #1.
1916 - Peace River Oil Co #1 (4-31-85-20W5) blew out. (see 2003).
1919– Imperial Oil ltd. Drills the first successful oil well southwest of the community of Norman Wells.
1920 - Norman Wells oil field in NWT discovered.
1923 - Heavy Oil discovered in Wainwright area.
1923 - Edmonton converted to Natural gas.
1924 - Gas condensate reservoir discovered in Mississippian at Turner Valley.
1924 - First sweetening plant developed at Turner Valley to remove hydrogen sulphide.
1929 - Alberta Research Council set up hot water extraction plant on Clearwater River to extract oil from bituminous sand.
1930 - Bow Island field exhausted having produced 336 Bcf into the Calgary market.
1930 - Mineral Rights transferred from Federal Government to Provincial Governments of Western Provinces.
1935 - Gas was discovered in east central Saskatchewan at Bertwell. A total of eight wells were drilled.
1936 - Oil leg discovered in Mississippian at Turner Valley.
1936 - Nylon invented - First synthetic from petrochemicals.
1937 - Construction of an aviation fuel refinery at Whitehorse began.
1938 - Alberta Petroleum and Natural Gas Conservation Board formed by Social Credit Government - significantly reduced flaring activities.
1939 -Turner Valley oil boom. Over 100 producing oil wells drilled.
1939 - Prominent oil operator H.H. Sneider with years of experience in Texas, Oklahoma and California, comes to Kamsack, east central Saskatchewan. Eight shallow (200 feet) producing gas wells were drilled.
1940-1942 - CANOL pipeline project commenced - US Wartime effort to link Norman Wells to Whitehorse.
1943 - Burroughs and Sparks discover oil 3 miles south west of Lloydminster in the Sparky Formation (later named).
1944-1946 - Oil from this pipeline had a true cost of $137.19 per barrel!
1943-45 - First offshore well drilled by Mobil from an artificial island off Prince Edward Island.
1944 - Jumping Pound Discovered by Shell - first efforts to recover sulphur from sour gas.
1947 - February 13th, Leduc discovered - Imperial Leduc No. 1.
1948 - Atlantic Leduc #3 blew out.
1948 - Redwater oil discovered (Leduc formation).
1948 - Pouce Coupe - first gas discovery in N.E.B.C.
1949 - Golden Spike (Leduc formation) Discovered.
1950 - Interprovincial Pipeline built to transport oil from Edmonton to Superior, Wisconsin. First shipment arrived in Superior in early December.
1951 - Daly (Mississippian Lodgepole) - First oil discovered in Manitoba.
1951 - First oil discovered in North East British Columbia at Fort St John.
1953 - Interprovincial Pipeline extended to Sarnia, Ontario.
1953 - Trans Mountain Pipeline (oil) completed from Edmonton to Burnaby, BC.
1953 - Pembina Cardium Oil Field Discovered.
1953 - Midale - First significant oil pool in Saskatchewan.
1955 - Boundary Lake Oil Field in BC discovered.
1957 - Swan Hills, Virginia Hills and Kaybob - First Swan Hills Discoveries.
1957 - Waterton Mississippian Discovered.
1957 - First gas exported by Westcoast Transmission Company via Vancouver to US markets.
1957 - First gas exported to Eastern Canada by Trans Canada Pipelines.
1958 - Clarke Lake, BC discovered (Slave Point gas).
1961 - First drilling in Canadian Arctic - Dome at Winter Harbour on Melville Island.
1964 - Mitsue Gilwood field Discovered.
1965 - Rainbow Keg River reefs discovered.
1966 - First well drilled in Beaufort Sea.
1966 - Panarctic incorporated - a consortium of companies to explore in the Canadian Arctic.
1967 - Great Canadian Oil Sands Ltd (later Suncor) began production of Tar Sands north of Fort McMurray.
1967 - Sable Island gas discovered by Shell.
1967 - First drilling off Canada's west coast by Shell.
1969 - First drilling by Panarctic resulted in discovery of Drake Point gas field, Melville Island in Canadian Arctic.
1970-1971 - Gas blow-out on King Christian Island in Canadian Arctic.
1971 - First drilling on Labrador Shelf (East Coast).
1971 - Taglu discovery by Imperial in McKenzie Delta of Canadian Hunter.
1972 - Moratorium on West Coast drilling imposed by Federal and BC Governments.
1972 - Parsons Lake discovered by Gulf Canada in McKenzie Delta.
1973 - Liberal Government of Pierre Trudeau formed Petro Canada and the Foreign Investment Review Agency.
1973 - First oil discovered on East Coast by Mobil at Cohasset.
1973 - Union Nose Creek well - the deepest well drilled to date in the Western Canada Sedimentary Basin.
1974 - Bent Horn oil discovery by Panarctic on Cameron Island - the only oil field to be commercially produced in the Canadian Arctic.
1974 - Federal and Provincial Governments in dispute over resource revenues, resulting in 'excessive' taxation of Industry. Industry responded by reducing activity.
1976 - Discovery of Elmworth and concept of Deep Basin Gas by Masters and Gray of Canadian Hunter.
1976 - Dome (Canmar) started drilling in Beaufort Sea.
1977 - Nisku pinnacles at West Pembina discovered by Chevron.
1977 - Berger Inquiry into the McKenzie Valley Pipeline results in 10 year moratorium on development in NWT.
1977 - (Dec 2nd) Amoco Pacific Brazeau 7-10 blew out, capped 30 days later by Red Adair.
1978 - Syncrude starts tar sand production.
1978 - Oil discovered at Amauligak in Beaufort Sea.
1979 - Canadian Oil industry converted to metric.
1979 - Texaco Shell Blue H-28 well drilled in the Orphan Basin, east of Newfoundland - the deepest well drilled in Canada at the time (20233') and drilled in a then world record water depth of 4,876'.
1979 - Hibernia discovered on the Grand Banks, Newfoundland by Chevron and Mobil.
1980 - (October 28th Budget) Controversial National Energy Program (NEP) introduced by Liberal Government.
1980 - Highest average land price ever - $395/Ha - for all Crown land acquired in Canada during 1980.
1981 - Hebron Oilfield discovered off Newfoundland.
1982 - Ocean Ranger drilling rig sank on the Grand Banks with loss of 84 lives.
1982 - Amoco Dome Brazeau 13-12-48-12W5 blew out creating a stink across the Province.
1982 - Pre-build section of Alaska Pipeline opened.
1982 - Ben Nevis oilfield discovered off Newfoundland.
1983 - Petro Canada Banquereau well drilled offshore Nova Scotia - Deepest well ever drilled in Canada 20,699'.
1984 - Terra Nova Field discovered.
1985 - Western Accord by Brian Mulroney's Conservative Government started process of Deregulation of the Oil Industry.
1985 - Panarctic shipped first oil from Arctic Islands (100,000 bbls from Bent Horn).
1985 - Agreement between Federal Government and Newfoundland Government to jointly manage offshore oil and gas resources.
1986 - Norman Wells pipeline from Norman Wells to Zama, Alberta opened.
1986 - First significant down-sizing in Major Oil Companies as result of oil price decline.
1986 - Discovery of Caroline Swan Hills Field by Shell.
1988 - Amoco Canada finally acquired Dome Petroleum Ltd.
1988 - Rowan Gorilla I (largest drilling rig in world at the time) sank off East Coast of Canada.
1992 - Up-grader at Lloydminster began processing heavy oil
1992 - First oil production from Panuke-Cohaset off Nova Scotia
1995 - Alberta's Energy Resources Conservation Board (ERCB) changed name to Energy Utilities Board (EUB)
1996 -1998 - escalated "Eco-terrorism" against oil industry in Grande Prairie area, Wiebo Ludwig eventually found guilty.
1997 - First production from Hibernia, Grand Banks, Newfoundland.
1997 - Kyoto Agreement to limit greenhouse gases.
1997 - Industry spent a record $1.5 billion to acquire 6.88 million hectares of land in Canada ($219/Ha) during the year.
1998 - Quebec Ice Storm destroyed much of electrical infrastructure in Quebec.
1999 - Chevron makes major discovery in Liard area of NWT.
1999-2000 - Ladyfern Slave Point Field discovered by Apache, Murphy and Beau Canada.
2000 - First gas production from Sable Island - First Canadian offshore gas development.
2000 - Renaissance merged with Husky Oil to form Husky Energy Inc.2000 - World Petroleum Congress held in Calgary amid tight security.
2000 (September 20th) - Oil price peaked at $37.40 (WTI US$)- highest since Gulf War.
2000 - Aurora Mine opened at Syncrude - 1st remote oil sands mine.
2000 (December 1st) - First shipment of gas on Alliance Pipeline.
2000 (December 11th) - Spot price for Alberta gas closed at a record $16.95 (Cdn) per gigajoule.
2000 (December) - Differential between light and heavy oil reached $21.46 per barrel ($40.86 for light oil, $19.40 heavy oil).
2000 (December) - Differential between light and heavy oil reached $21.46 per barrel ($40.86 for light oil, $19.40 heavy oil).
2000 - A record 21,967 well licenses were issued in Canada during 2000.
2001 (January first week) - A record 597 rigs drilling in Western Canada.
2001 - May 29th - Conoco Inc offers $9.8 billion for Gulf Canada Resources Ltd.
2001 - July 11th - Alberta Land sale brought in $125.54 million - the largest land sale in Alberta history.
2001 - July - Irving Oil announces plans to build an LNG receiving terminal near St John, New Brunswick.
2001 - Record year for all Canadian Land sales - $1582 million + $562 million work commitments.
2001 - First year that Bitumen production (271 million bbls) exceeded conventional crude production (264 million barrels) in Alberta.
2002 - (January) - Experimental gas hydrate project at Malik in the McKenzie Delta by an industry/government consortium.
2002 - (January) - First oil production from Terra Nova, Grand Banks, east of Newfoundland - using a floating production platform system.
2002 - AEC and PanCanadian merge to form EnCana Corp.
2002 - (February) - Chevron decides not to develop the Hebron - Ben Nevis fields off Newfoundland (Oil too heavy).
2002 - (February) - PCP announced the first sales of Coal bed Methane production in Canada from their experimental projects in Southern Alberta.
2002 - (June) - EnCana announces discovery of "Greater Sierra" Jean Marie trend in NEBC.
2002 - (July) - Talisman announces first deep Paleozoic gas discovery in BC Foothills (at Monkman Pass, below Triassic production).
2002 - (August) - EnCana announces plans for first commercial Coalbed Methane project in Canada.
2002 - (Sept 2) - Jean Chretien announces intent to ratify Kyoto Agreement.
2002 - (Sept) - Canadian Natural Resources may move their heavy oil upgrader to the US if Kyoto signed.
2002 - (Oct) - Saskatchewan reduces royalty rates to attract new activity.
2002 - (Dec 10) - Federal government ratifies Kyoto Agreement.
2002 - (Dec 10) - Nexen to delay Long Lake Oilsands project.
2002 - (Dec 30) - First production from Athabasca Oil Sands Project (AOSP) Muskeg River Mine - owned by Shell, Chevron and Western Oil Sands Ltd.
2003 - (Jan) - True North Energy (Koch) postpones Fort Hills tar sands project citing lack of a partner + environmental and Kyoto concerns.
2003 - (Feb) - Gasoline spikes to record high prices in Canada (90c) - on threat of supply shortages if war begins in Iraq.
2003 - (Feb) - EnCana to delay development of Deep Panuke (Off-shore Nova Scotia) citing excessive cost for reserves discovered.
2003 - (Aug) - Access Northeast Energy Inc announces plans to build an LNG terminal at Bear Head, Nova Scotia.
2003 - (Aug) - Gasoline prices exceed 90c per litre in parts of Canada.
2003 - (Feb) - EnCana to delay development of Deep Panuke (Off-shore Nova Scotia) citing excessive cost for reserves discovered.2003 - (Aug) - Access Northeast Energy Inc announces plans to build an LNG terminal at Bear Head, Nova Scotia
2003 - (Aug) - Gasoline prices exceed 90c per litre in parts of Canada
2003 - (Sept 1) - 337gas wells (about 100MMcf/d) in the Fort McMurray area shut-in by the AEUB to preserve reservoir pressure for future bitumen extraction.
2003 - (Sept) - Largest ever Crown land sale in Canada. BC Government raised $417.98MM in the sale of mineral rights, primarily in the Sundown area of NEBC. EnCana later admitted to being the buyer to pursue a Cadomin gas play.
2003 - (Oct) - AEUB announced that Peace River #1 (4-31-85-20W5) had finally been abandoned after 88 years.
2003 - (Dec) - AEUB rejects application by Polaris Resources Ltd to drill in the Whaleback, in the Alberta foothills.
2003 - Record number of wells drilled in Canada (19,955) during 2003 but gas production declined and price climbed.
2004 - (April) - Record number of wells drilled in Western Canada during first quarter (6278)
2004 - (April) - EnCana makes bid for Tom Brown Resources (primarily US properties)
2004 (April) - Galveston LNG announce plans to build a LNG receiving terminal near Kittimat, BC.
2004 - ChevronTexaco Canada sell their conventional Western Canada oil and gas production to Enerplus, Acclaim and Paramount.
2004 - Husky seeking proposals to develop White Rose natural gas off the East Coast.
2004 (July) - West-Pac announces plans to build a LNG receiving terminal at Prince Rupert, BC.
2004 - (August) Irving receive approval to build an LNG terminal at St John, New Brunswick, team up with Repsol (Sept 2004).
2004 - (August) Enbridge Inc, Gaz Metro and Gaz de France proposing LNG. terminal on south shore of St Lawrence, also TransCanada Corp and Petro-Canada teeming up to develop a terminal in Quebec.
2004 - (Sept) - Federal Government sells final 19% ownership of Petro-Canada.
2004 - (Sept) - Imperial Oil to move their head office from Toronto to Calgary.
2004 - (Oct) - Application to build McKenzie Valley pipeline submitted to NEB.
2004 - (Oct 26) - AECO Natural gas price at $8.25/GJ.
2004 - (Oct) - Nexen Inc to buy EnCana's North Sea holdings for $2.1 billion US.
2004 - (Dec) - Shell Canada reports discovery of a Leduc reef at Tay River, west central Alberta with 500-800Bcf in place.
2004 - A record 21,671 wells drilled in Canada.
2005 - (Mar) - PetroCanada to participate in Fort Hills oil sands project.
2005 - (Mar) - Suncor applying to build the $10 billion Voyageur project to expand oil sands production by 200,000 bbls.
2005 - (Mar) - Northrock announces discovery of gas and condensate reservoir at Summit Creek, NWT. Reported at 20Mmcf and 6000 bbls condensate per day.
2005 - (Apr) - Husky announces plans to proceed with the $10 billion Sunrise bitumen project NE of Fort McMurray.
2005 - (Apr) - Imperial stops work on Mackenzie Valley pipeline proposal in frustration over slow progress in reaching agreements with First Nations.
2005 - (June 22) - AEUB approves Compton Petroleum's application to drill sour gas wells on the southeastern fringe of Calgary subject to certain conditions.
2005 - (July) - Pogo Producing Company of Houston to purchase Northrock Resources from Unocal for $2.1 billion Cdn. The first significant foreign purchase of Canadian oil and gas assets since 2001.2005 - (July) - Trident Exploration Corp and Nexen Inc announce plans for first commercial development of Manville CBM at Corbett Creek with plans to spend $400MM in the next 18 months.
2005 - (July 19) - Ottawa commits $500 million to help northern aboriginal communities deal with development of the Mackenzie Valley pipeline.
2005 - (August) - Gasoline selling at greater than $1 per litre in many parts of Canada.
2005 - (Aug 2) - Total E & P Canada offers $1.35 billion for Deer Creek Energy Ltd (owners of a start-up SAGD project at Joslyn).
2005 - (August 31) - Methanex announce plans to close Methanol production plant at Kittimat, BC due to high price of North American natural gas - methanol will be imported from offshore.
2005 - (Aug 31) - Natural Gas at summer all time high price $10.67/gj.
2005 - (Sept 2) - AEUB suspends MRL (Maximum Rate Limitation) on light oil production in Alberta for month of September following production disruption caused by Hurricane Katrina.
2005 - (Sept 6) - Teck Cominco Ltd pays $475 million for 15% stake in Fort Hills oil sand mining and upgrader project (current partners: UTS Energy and PetroCanada).
2005 - (Sept 6) - Total increases bid for Deer Creek to $1.7 billion (see Aug 2, 2005).
2005 - (Sept 20) - EnCana to import 25,000 bbls diluents per day via Kittimat, BC for transporting oilsands production to the United States.
2005 - (Nov 12) - First production from Husky's White Rose oil field in the Jeanne d'Arc Basin, east of Newfoundland.
2005 - (Dec 14) - Alberta bi-weekly Land sale raised $544 million at an average price of $1,147 per hectare - More money than was raised in all the Alberta Land sales in 2002.
2005 - A record number of gas wells drilled and record spending in the Canadian oil and gas industry.
2006 (Jan 5) - AEUB closes the file on Compton's efforts to drill sour gas wells southeast of Calgary after Compton failed to submit an Emergency Response Plan - (see June 22 2005).
2006 (Feb 9) - Alberta Land sale raised $651.37 million including $559.4 million in Oil sands Leases - later revealed that Shell Americas - a subsidiary of Royal Dutch Shell - were the purchasers of most of the leases.
2006 (Apr 17) - Penn West Energy Trust to merge with Petrofund Energy Trust to create the largest conventional energy trust.
2006 (May 11) - PetroCanada offer for Canadian Southern Petroleum Ltd - an attempt to consolidate interests in the Canadian Arctic. Canadian Oil sands later made a better offer.
2006 (May 15) - AECO Spot Gas Price drops to $5.20 Cdn/GJ.
2006 (June) - Shell Canada acquires Blackrock Ventures Inc. for $2.4 billion - based on their ownership of cold bitumen land and production in the Peace River Arch area (Seal).
2006 (June 15) - Quebec to introduce a Carbon Tax to meet Kyoto obligations.
2006 (June 21) - Husky announces discovery of extension to White Rose oil field off East Coast.
2006 (August) - Chevron spuds the Great Barasway F-66 well in the Orphan Basin east of Newfoundland. The first well in the Basin in 27 years, it is scheduled to be both the deepest well (7400m) and in the deepest water (2400m) ever-drilled in Canada.
2006 (Sept 14) - Canadian Natural Resources to acquire Anadarko Canada Corp for more than $4 billion.
2006 (Sept) - Value of Canadian natural gas exports fell 46.4% compared to September 2005 - due to lower volumes and significantly lower prices.
2006 (Oct 2) - Natural gas price drops to a low of Cdn$3.08/Gj on AECO spot.
2006 (Oct 5) - EnCana and ConocoPhillips to merge EnCana's Foster Ck and Christina Ck oilsands projects with ConocoPhillips refining assets at Wood River, IL and Borger, TX.2006 (Oct 10) - EnCana unveils plans for a major new office building in downtown Calgary - "The Bow" - 59 storeys high, curved building with 2 million sq. ft. of office space and costing $850 million to $1 billion.2006 (Oct 31) - Federal Government announces plans to tax income trusts resulting in a substantial drop in value and considerable rhetoric.
2006 (Dec 22) - TransCanada Corp to acquire ANR Pipeline Company and other US pipeline and storage assets for $3.4 billion.
2006 - Alberta collected $3.43 billion from the sale of oil and gas leases in 2006 - including $1.96 billion from sale of Oil Sands Leases.
2007 - According to Oil and Gas Journal (OGJ), Canada had a reported 179.2 billion barrels of proven oil reserves as of January 2007, second only to Saudi Arabia.
2007 - Oil prices spiral from $60/bbl to a record price of $100/bbl by December.
2007 - Premier Ed Stelmach's provincial government announces intentions to increases oil royalties for Alberta oil companies. Some oil companies announce that they will move their oil and gas exploration into British Columbia, Manitoba and Saskatchewan where royalty rates are much lower.
2007 - Nordic Oil and Gas announces that an aerial and land survey conducted in east central located 34 oil seeps on their property north of Preeceville, Saskatchewan.
2007 - Consumers’ Co-operative Refineries Ltd. buy out Saskatchewan Government's 50% share and announce expansion of their heavy oil upgrader in Regina.
2007 - Announcements made by various companies in Canada to expand biofuel production.
2007 - Energy Alberta Corporation has chosen Peace River in northwestern Alberta as the site for its proposed $6.2-billion nuclear power plant.
2007 - Oilsands Quest initiated pre-commercialization studies for its Axe Lake Discovery in Northern Saskatchewan.
2007 - The new estimated potential size of the Bakken play in southeastern Saskatchewan a possible 25 to 100 billion barrels of light grade crude oil. This pool represents Canada's largest crude oil discovery.
2008 (February) - Saskatchewan achieves largest land sales on record, $197 million.
2008 (April) - Saskatchewan breaks previous land sales record with sales of $265 million.
2008 (July 11) - Oil prices hit a record new high of $147/bbl.
2008 (July 18) - British Columbia reports a record high of $1.3 Billion in years total for oil and gas leases.
2008 (August 18) - Bill Gates and Warren Buffet tour the Canadian oilsands in north eastern Alberta.
2008 (September 1) Gasoline prices exceed $1.50 per liter in British Columbia and Labrador - Newfoundland.
2008 (September 14) - Beginning of global financial crises. U.S. Federal government announces takeover of Fannie Mae and Freddie Mac banks.
2008 (October) - Beginning of the serious stock market meltdown. Lehman Brothers declare bankruptcy.
2008 (November) - Numerous oil companies postpone Canadian oil sands development projects. Alberta Government announces a softened oil royalty approach which will be implemented over a five year period.
2008 (December) - Crude oil prices drop to $32/bbl that’s a drop of $115/bbl after reaching July’s record highs of $147/bbl.
2009 (January) - OPEC makes an announcement of further oil output cuts to stop falling oil prices.
2009 (February) - France’s oil giant, Total, announces a bid to buyout UTS which owns a significant properties in the Canadian oilsands.
2009 (February) - Brazil’s state owned oil company Petrobas announces that it will spend $175 billion to develop offshore subsalt oil reserves which may total 80 billion barrels.
2009 (February) - Newly inaugurated U.S. President Barrack Obama visits Ottawa and discusses economic crises with Prime Minister Stephen Harper.
2009 (March) - Two Canadian heavy weights announce their merger. Suncor and Petro-Canada declare that the two companies intend to merge in the third quarter of 2009. Combined market capitalization is estimated at $38 billion.
2009 (April) - Norway’s Statoil reports that a new oil and gas discovery was made in Flemish Pass Basin which is situated 500 kilometers northeast of Newfoundland. The discovery is reported to be in Canadian jurisdiction.
2009 (April) - French oil giant, Total, makes its second hostile bid offer to buyout UTS Energy. Its board rejects the latest offer of $1.75 and state that it does not reflect the value of its oil sands assets.
2009 (June) - Premier Danny Williams announces an agreement between his province and a consortium of oil companies to develop Hibernia South. Deal is estimated to bring $10 billion to Newfoundland / Labrador in revenue when developed.
2009 (June) - Canada based Addax Petroleum Corporation was purchased for $8 billion by China Petroleum and Chemical Corporation. Addax Petroleum is an oil and gas company focused on West Africa and the Middle East.
2009 (August ) - Suncor and Petro-Canada merger is finalized and completed.
2009 (August) - Petrobank Energy and Resources buys out TriStar Oil and Gas for $2.24 billion and announces a creation of a premier oil company, PetroBakken Energy.
2009 (September) - PetroChina announces intent to buy a 60% stake in Mackey and Dover oilsands projects for $1.9 billion.
2009 (October) - Korean National Oil Corporation agrees to buyout Harvest Energy Trust for $1.8 billion.
2009 (October 20) - Oil prices surge above $80/bbl.
2009 (December) - EnCana Corporation splits into two energy companies. EnCana will focus on natural gas plays and Cenovus Energy will become an integrated oil company.
2009 (December) - Federal government gives approval for PetroChina to buy a stake in the Canadian oilsands.
2009 (December) - Canada's federal Joint Review Panel approved the construction of Mackenzie Valley natural gas pipeline.
2010 (February) - Athabasca Oil Sands Corporation announced the completion of the sale of a 60% stake in its MacKay River and Dover oil sands projects to a unit of PetroChina for $1.9 billion.
2010 (April 8) New and large natural gas discovery is made 350 km southeast off Newfoundland coast.
2010 (April 12) - Sinopec buys out ConocoPhillips share of the Syncrude Canada project located near Fort McMurray. Deal is reported to be worth $4.65 billion.
2010 (April 20) - British Petroleum (BP) platform rig explodes after striking oil seven miles below sea level in the Gulf of Mexico. This creates the largest and most serious offshore oil spill in history. Eleven workers are killed and 206 million barrels of oil are spilled before well is capped.
2010 (July 8) - France’s oil giant, Total, secures a stake in Canadian oil sands. It agrees to buy UTS Energy Corp. for $1.5 billion. Total failed in a hostile attempt to buyout UTS Energy in 2009.
2010 (September 3) - British Petroleum completes cementing shut MC 252 oil well in Gulf of Mexico.
2010 (October 12) - U.S. lifts deepwater drilling moratorium.
2010 (November 28) - Husky Energy and BP Pic agree to begin the first phase of Sunrise Energy Project in the Alberta oilsands.
2010 (December 16) - The National Energy Board gave a consortium headed by Imperial Oil a conditional approval to construct a $17 billion natural gas pipeline from the Mackenzie Delta to northern Alberta.
2011 (February 9) PetroChina announces that it will buy half the stake in EnCana's Cutbank Ride natural gas project in British Columbia for $5.4 billion. PetroChina cancelled the deal in June.
2011 (July 20) China’s state owned oil company CNOOC announced it has agreed to buyout OPTI Canada for $2.1 billion.
2011 (October 11) Sinopec announces bid to purchase Calgary based Daylight Energy for $2.2 billion.
2011 December 23) Daylight Energy announced that Sinopec International Petroleum Exploration and Production Corporation acquired all of Daylight's outstanding common shares and it is delisted from the Toronto Stock Exchange.
2012 (January 2) Athabasca Oilsands Corporation announces the sale of its 40% stake in Mackay River project to PetroChina for $1.9 billion.
2012 (January 10) National Energy Board begins public hearings along Northern Gateway route.
2012 (January 18) President Obama defers approval of the Keystone XL pipeline until after the U.S. presidential election.
2012 ( February 10) Cenovus Energy makes its first shipment of crude oil (250,000 barrels) to China using the Westbridge Marine Terminal facilities in Vancouver.
2012 (March 23) Pengrowth Energy announces that it has agreed to buyout NAL Energy in a stock swap.
2012 (June 28) Malaysian national oil and gas company, Petronas, announced the purchase of Progress Energy valued at $5.5 billion.
2012 (July 23) Two separate business arrangements involving Canadian and Chinese oil companies. Sinopec has agreed to buyout 49% of Talisman UK properties for $1.5 billion. CNOOC has offered to buyout all shares of Nexen Inc. a major Canadian oil company for $15.1 billion. The Nexen deal must meet all regulatory approvals including the Government of Canada to be final.
2012 (October 19) Federal government blocks the multi-billion takeover of Progress Energy Resources by Malaysia’s state owned oil company, Petronas.
(December 7) Federal government approves the CNOOC takeover of Nexen and Progress Energy Resources takeover by Malaysian state owned oil and gas giant, Petronas.
2013 (February 11) Apache, Chevron complete Chevron Canada's entry into Kittimat LNG terminal.
2013 (February 25) Pacific Trail Pipelines signs a $200 million agreement with 15 First Nations regarding the pipeline component of the Kittimat LNG Project.
2013 (July 6) The most serious train accident in Canadian history occurred. An unattended train carrying 72 tankers of crude oil through Lac-Magantic, Quebec derailed and exploded. This accident resulted in over fifty people killed, homes and businesses flattened. The town was described by the Prime Minister Harper, “Looked like a war zone.”
2013 (October 6) Petronas announced plans to construct LNG export terminal, pipelines and infrastructure at Prince Rupert valued at $35 billion. Project will be built in stages over a thirty year period. Company states that final plans will be unveiled in
2013 (October 31) Suncor announced its intention to proceed with the Fort Hills open mining project. Cost is estimated at $13.5 billion and near completion date is 2018. When fully completed this operation will produced 180,000 barrels of crude oil daily.
2013 (October 31) Royal Dutch Shell announced that it has been authorized to proceed with development of its Carmon Creek project. Costs are estimated at $3.2 billion and completion date is slated for 2017. Project will be capable of producing 80,000 barrels of heavy crude oil per day.
2013. (October 31) Enbridge announced that it has been selected by Suncor to construct two short pipelines into the oilsands. Total constructions cost of the two separate projects is estimated at $3.0 billion.
2013. (November 19) Two LNG liquefaction plants will be constructed in western Canada. Ferus Natural Gas Fuels and ENN Canada Corporation jointly announced that they will construct and operate LNG plants in Vancouver and Edmonton.
2013. (December 19) The National Energy Board announced that the Joint Review Panel for the Enbridge Northern Gateway Pipeline Project has recommended approval and has forwarded its recommendation to the federal government of Canada.
2014. (June 17) Governor in Council gave approval to the Northern Gateway Project . The recommendation was subject to 209 conditions as recommended by the Joint Review Panel.
2014. (October 30) TransCanada Corporation submits application to the N.E.B. for the proposed Energy East Pipeline Project.
2014. (November 27) Crude oil prices tumble to a five year low after OPEC announced a status quo in its oil output. This sets off a market sell-off in oil investments and a further drop in crude oil prices.
2014. (December 15) Talisman Energy announced that it has agreed to be acquired by Repsol SA for US $13 billion. Deal is pending Canadian government approval and is expected to be completed in the first quarter of 2015.
2015. (January 13) Suncor announced that it will cut its capital spending by $1 billion and lay off 1000 employees.
2015. (January 28) WTI crude oil futures slide to a six year low, trading at $44.45 per barrel.
2015. (February 23) Shell Canada announced that it is withdrawing its application for regulatory approval on its proposed Pierre River heavy oil mine project, north of Fort McMurray.
2015. (May 5) NDP in Alberta win a landslide victory ending a 44 year Progressive Conservative government.
2015. (November 6) Obama administration rejects TransCanada’s application to construct Keystone XL pipeline.
2016. (January 4) Repsol announces that Talisman Energy Incorporated will be known as Repsol Oil & Gas Limited.
2016. (February 5) Suncor buys out Canadian Oil Sands Limited for $6.6 billion.
2016. (March 11) Weekly US rig count reached its lowest point since Baker Hughes Inc. began recording its data in the 1940s.
2016. (March 22) Calgary oil and gas producer, Terra Energy, shuts down after bank calls in loan.
2016. (April 28) The total US crude oil inventory hit an all-time high of 540.6 MMbbls.
2016. (May 16) Connacher Oil and Gas initiated proceedings today at the Court of Queen's Bench of Alberta, Canada, to seek creditor protection.
2016. (May to June) Wild forest fires decimate Fort McMurray, Alberta and close oil sands production in most of northern Alberta.
2016. (Sep 28) OPEC agreed to the outline of a deal that will cut production for the first time in eight years. Cartel members propose to cut output to as low as 32.5 million barrels a day.
2016. (November 9) In a major political and media upset, Donald J. Trump is elected as president in US presidential elections.
2016. (November 29) Federal government announces approval of Trans Mountain Expansion Project and the replacement of the Enbridge Line 3 pipeline. The Northern Gateway pipeline is rejected.
2016. (November 30) OPEC oil producers pledge a 4.6% cut in production beginning on January, 1, 2017.
2017. ( January 13) Prime Minister Justin Trudeau announces that Alberta oil sands production must be phased out.
2017. (March 9) Canadian Natural Resources announced that it has an agreement to buy 70% of Athabasca Oil sands and Scotford upgrader as well as some non-producing oil sands assets properties for $12.74 billion.
2017. (July 12) Raging wildfires in British Columbia are forcing people to evacuate and may be in harms way of a major oil pipeline, Kinder Morgan’s Trans Mountain Pipeline.
2017. (July 25) Petronas announced that it is pulling out and abandoning the Pacific Northwest LNG project.
2017 (September 20) Manitok Energy acquires Corinthian Oil Corporation.
2017. (October 5) TransCanada announced that it has terminated its plan to construct Energy East Pipeline.
2017. (November 20) The Nebraska Public Service Commission approves the construction of the Keystone XL but on the condition that it be constructed on an alternate route which the commission has chosen.
2018. (May 29) Kinder Morgan announced that its has sold its Trans Mountain pipeline project for $4.5 billion to the Canadian government.
2018. (August 16) Federal Court of Appeal ruled that the expansion of the Trans Mountain Pipeline was flawed and that the National Energy Board must redo its review.
2018. (November 9) U.S. District Court for Montana blocks the construction of Keystone XL pipeline.
2018. (December 2) Premier Rachel Notely imposes cuts on Alberta’s crude oil output.
Modern drilling rig set up for action and ready to drill. This picture was taken in east central Saskatchewan and features Nabor’s ‘Rig 22’.
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