Ontario commercial oil producers are an integral part of the Ontario economy having supplied energy through historical and modern methods to oil refineries in Southwestern Ontario since the 1860’s.
Producers supply Ontario consumers a percentage of Ontario’s supply of oil and related products that include cosmetics, synthetic fabrics and rubber, plastics and medicines.
These producers are supported by drilling contractors, well and oilfield services, geologists and engineers as well as a range of professional consulting services.
All of Ontario commercial oil production from its earliest beginnings continuing through to today has been sold to Imperial Oil in a unique marketing arrangement which has Imperial Oil essentially purchasing all of the province’s crude oil production from Marcus Terminals Inc., a trucking company with terminal operations in Sarnia, Ontario.
In 2013 commercial production amounted to 439,000 barrels of oil from 1,183 wells which included 717 historical oil fields at a value of $38.3 million.
It’s generally understood, after 165 years of production, that 50% of the potentially recoverable oil remains to be developed. Ontario currently imports the majority of its energy supply for power and transportation. Increasing this supply from the province’s own natural resources enhances the security of that supply and contributes to the economic well-being through the jobs created and the services and supplies purchased in towns, cities and municipalities across Ontario.