Word: leduc
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...Known reserves of Canadian oil, the industrial pacesetter since the discovery of Alberta's Leduc field in 1948, reached an estimated 1.7 billion barrels. More than $300 million was spent in exploration last year, and an even faster investment pace is planned...
...rest on the triumph; he already had his seismograph crews roaming north west Alberta in a hunt for new treasure. Oilmen have long guessed that an oil-rich coral-reef formation underlies Alberta's Peace River Basin, about 200 miles northwest of Canada's vast Leduc field, and have spent years hunting...
...struck a heavy flow of good crude. It was the first major producing well in the region. ''Amerada has found something that has us all sitting up and taking notice," said a rival geologist enviously. "Most geologists in the Canadian oil play are convinced there is another Leduc or Redwater, or maybe several of them, in the basin." Once more, Amerada's hard-drilling Jacobsen was out ahead of the rigs: he had already sewn up almost 700,000 acres of the likeliest sites in the Peace River region...
...Amerada, Shell, Texaco and others have already brought in wells as far as 115 miles apart. Since oil has also been found across the Canadian border in Saskatchewan, oilmen suspect that the Williston pool extends there, think they may find fields rivaling Alberta's great Leduc and Redwater fields...
...excite William Chamberlain, now 81, and his wife, 72. "Excitement is for young folks," Mrs. Chamberlain said wistfully. "What we could have done if the oil well had come in years ago!" Other Albertans pondered, too. The province's roaring oil boom, touched off by discoveries in the Leduc area in 1947, might have got rolling 40 years sooner if anyone else had taken William Chamberlain's hunch seriously...