Word: oiled
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Dates: during 1950-1959
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Geological Whodunit. Behind all the excitement, which has sent Canadian oil stocks gushing up as much as 70% in recent months, is a geological thriller to rival any detective story. Back in 1921 Imperial Oil Ltd., Jersey Standard's Canadian subsidiary, tried to tap Great Slave's potential with a test well at Windy Point on the western tip of the huge lake far up in Canada's frozen Northwest Territories. The area was littered with natural oil seeps oozing from a rock strata identified as Devonian limestone. But as so often happens when oil-bearing strata...
...April 22, as company officials gathered round Phillips' Kaybob well, the drill stem broke through to a formation of oil-bearing limestone nearly 10,000 ft. down. The first tests showed a natural flow of more than 2,600 bbl. a day. Nearby, Home Oil's Swan Hills and Virginia Hills wells augered down into the same limestone formation, also found heavy concentrations of oil...
Oilmen from coast to coast awoke to what Phillips and Home Oil had suspected: the entire area from Great Slave south to Lesser Slave Lake and west to the Rockies, some 100,000 sq. mi. in all, was probably underlain with a thick common bed of rich oil-bearing formations, forming a vast new oil domain, where a wildcatter could spend a lifetime drilling and not exhaust the chances of a new find. Said Phillips' divisional manager, D. L. Potter: "This opens up a virgin wilderness of vast potential...
...Vancouver and the U.S. border. The Canadian-born son of a wandering hard-rock miner, Oilman McMahon quit college to become a prospector himself, bounced from drilling rig to drilling rig until the 1940s, when he moved into the Peace River area above Edmonton in search of gas and oil. When the provincial government lifted leasehold restrictions on Peace River lands in 1947, McMahon snapped up an original 300,000 acres and started prospecting. The first two holes were dry. Then in 1952 at Fort St. John, 345 miles from Edmonton, his Pacific Petroleums drillers brought in a promising...
When more drilling proved evidence of either gas or oil in nine different zones in the area, the migration that Phillips and Home Oil later turned into a rush...