Rigzone Ranks the Top 10 Oil & Gas Cities in the World
Energy Impact
Accessible to some of Canada's top oil and gas plays, Calgary is Canada's energy capital and Alberta's largest city. The city's growth has paralleled the fortunes of Alberta's oil and gas industry, which rose to prominence with the province's first major oil discovery at Leduc in 1947.
Alberta's Energy Resources Conservation Board (ERCB) reports the province's conventional established oil reserves stand at approximately 1.5 billion barrels; the province produces nearly 500,000 barrels per day of conventional crude. Conventional oil production has tapered off in the mature Western Canadian Sedimentary Basin, but Alberta's oil sands will ensure that Alberta maintains a prominent role in the global energy industry. The province's oil sands reserves hold nearly 170 billion barrels of bitumen recoverable with technology available as of 2011.
More than two-thirds of all natural gas produced in Canada originates in Alberta, with an estimated recoverable conventional natural gas reserves base of 73 trillion cubic feet (Tcf). Reserves of the province's coalbed methane may be a whopping 500 Tcf. Although the extent of Alberta's unconventional shale gas resources in as many as 15 formations is still under review, a preliminary estimate reveals that five of these formations – Basal Banff/Exshaw, Duvernay, Muskwa, North Nordegg and Wilrich – could hold nearly 1,300 Tcf of gas in place.[i]
According to Calgary Economic Development, nearly 56,000 Calgarians worked in the energy industry in 2010. That same year, roughly 1,700 business establishments comprised Calgary's energy sector. The Canadian Association of Petroleum Producers expects more than 5 percent of global oil production to originate in Western Canada by 2025. Calgary's best days as an oil and gas hub may yet be ahead.
City Highlights
Established as a fort by the precursor to the Royal Canadian Mounted Police, Calgary officially became a town in 1884. By that time, it was home to a new Canadian Pacific Railway station that greeted homesteaders lured by cheap land. The influx of newcomers fostered Calgary's emergence as an agricultural and commercial center. So robust was Calgary's growth that it was re-incorporated as a bona fide city in 1893. Farming and ranching have long been mainstays of Calgary and Alberta's economies, and Calgary pays tribute to this heritage every July during the world-famous Calgary Stampede celebration. Oil was first discovered in Alberta in 1902, but the aforementioned Leduc discovery 45 years later ushered in Calgary's transformation into a petroleum industry hub.
Since then, Calgary has become a thriving city of approximately 1.1 million that continues to welcome newcomers. Much more than what its "Cowtown" moniker suggests, Calgary offers a plethora of things to see and do that do not require cowboy hats and boots. Located in foothills and grasslands east of the Canadian Rockies near the 51st parallel north, Calgary experiences four distinct seasons. Luckily for locals and visitors alike, there are many ways to spend them. If you're fond of the outdoors, the Calgary area will not disappoint. The city offers more than 400 miles of bike trails and 31 square miles of parkland and public green space. The area is also a hot spot for anglers eager to tie a fly and cast a line in the Bow River, which runs through the city. Looking for some spectacular scenery? The world-class mountain vistas of the Canadian Rockies and Banff National Park are less than two hours away by car.
Sports fans can visit Canada's Sports Hall of Fame or cheer on the city's professional hockey, lacrosse or Canadian Football teams. Calgary also hosted the 1988 Winter Olympics – the first Canadian city ever to do so. Some 25 years later, one can ice skate at the speed skating venue for the 1988 games: the Olympic Oval.
If you consider shopping a sport, check out Calgary's boutiques in upscale Inglewood or bohemian Kensington Village. In addition to offering great shopping, the Stephen Avenue Walk pedestrian area downtown boasts great architecture, nightlife and more. In addition, Calgary's Cultural District houses venues for art enthusiasts to experience theatrical, musical and other performances.
Tipping a hat to its Western heritage, Calgary is a great place to order a steak. However, the city's numerous restaurants serve up cuisines originating from Addis Ababa to Zacatecas and virtually everywhere in between.
[1] Reserves and production figures are taken from the Alberta ERCB website: http://www.ercb.ca/learn-about-energy/energy-in-alberta/production-reserves
Author: Matthew Veazey
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