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January 2
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Record volumes produced in 1948 as Prairie oil output climbed 62% to 11.95 million barrels
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January 21
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Over 100 members of the oil fraternity meet at Calgary's Palliser Hotel to launch the Canadian Petroleum Association, approve by-laws and elect the first board of directors
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February 15
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Ottawa says oil imports in 1947 drained $258 million from Canada's limited American dollar funds
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April 19
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Oil find at Imperial Schoepp No.1 Golden Spike lives u to expectations and test 500 barrels in one hour from the thickest oil-bearing pay zone found in Canada so far
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April 28
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Twenty-five representatives of drilling contractors working in the Western Canadian oilpatch meet in Calgary to form the Canadian Association of Oilwell Drilling contractors and discuss a University of Calgary "Mud School" and training program
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May 9
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Imperial Oil orders $9 million of steel plate from Stelco in Hamilton for the Interprovincial Pipe Line project from Edmonton to Regina
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May 28
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March produced three records in the Alberta oilpatch: 54 wells were completed, new footage drilled reached 234,608 feet of hole and crude oil and natural gasoline production exceeded 1.5 million barrels per month for the first time in Alberta history
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May 31
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Western Canadian Oil Scouts Association forms in Calgary with plans to hold weekly "check meetings" to report on well data
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June 11
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Board of Transport commissioners gives authorization to build 450 mile interprovincial pipeline from Edmonton to Regina
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June 17
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Imperial Oil Chairman Henry H. Hewetson says Alberta's crude oil reserves are approaching one billion barrels, Imperial considers pipeline to the Great Lakes to serve Sarnia and other Ontario refining centres as well as U.S. markets
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October 11
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The number of producing oil wells in Alberta climbs past 1,000
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October 24
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Alberta's Petroleum and Natural Gas Conservation Board calls public hearings into two applications to export gas to Pacific Coast markets, one from the Northwest Natural Gas Company and its affiliate Alberta Natural Grid Limited and the other from Westcoast Transmission
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December 31
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Wells completed in Alberta total 820 in 1949, more than double the previous year's record of 366, oil resrves also more than double
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December 31
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The Redwater field, discovered in late 1948, becomes Canada's greatest single reserve with 271 oil wells and estimated reserves of 600 million barrels
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