Energy - Calgary Economic Development · 1/1/2009 · Alberta is Energy 15. Alberta’s energy strength 16. Conventional energy 18. Conventional oil 19 Natural gas 19 Pipelines 19

Energy Sector Profile 2012 1

Calgary Alberta Canada

EnergySector Profile

Energy Sector Profile 20122

Table of Contents

Calgary has a great energy and a great story 7An economy poised for growth 8Competitiveness 8Human energy 9Financial energy 10Calgary; a safe and secure destination 13 for foreign investment Leading the industry with 14 Sustainable and renewable energy Oil Sands Leadership Initiative 15Canada’s Oil Sands Innovation Alliance 15Alberta Energy Efficiency Alliance 15Alberta is Energy 15Alberta’s energy strength 16Conventional energy 18Conventional oil 19Natural gas 19Pipelines 19Chemical manufacturing and petrochemicals 20Coal 20

Unconventional energy 22Shale gas 23Tight oil 23Oil sands 23Oil sands recovery and extraction 23Oil sands and the environment 23Electricity 24Energy industry services 25Sustainable and renewable energy 26Wind Energy 28Solar Energy 28Renewable fuels 29The role of Calgary Economic Development 30What we can do for your business 31Trade missions 31Incoming missions 32Sustainable and Renewable Energy Cluster (SURE) 32World Energy Cities Partnership and Calgary 32 Climate Change Accord Fuel Forward 32Appendix: Calgary’s energy companies 33Action Calgary corporate partners 35Contact Information 36


It’s a place of big skies

& big ideas.

And everyone is welcome to

be part of the energy.

Calgary is an economic force and a catalyst for today’s

trailblazers. There’s an intense, urban vitality in Calgary that

unleashes the bold, can-do spirit of entrepreneurs

and innovators, artists and athletes. The lifestyle is active,

our perspective is global

and our western values run deep. Calgary is a diverse city

that embraces change and change-makers, and supports and sustains its communities

and its people. There is opportunity here — to start

a business, start a new life or start an adventure.

There’s an energy in Calgary that

exhilarates, invigorates & motivates.


Calgary is evolving to become the

global centre for all things energy.


Home to over a million residents,

Calgary boasts one of the

top performing economies

in North America

- in large part because it is Canada’s energy centre.

Alberta's economy

significantly outperformed

the national average in 2011, as rising

oil production fueled 5.2 per cent real

GDP growth. BMO Capital Markets, Provincial Monitor, 2012


In Calgary you will find the head office of nearly every major oil and gas company in the country. Calgary is also the home to the industry’s major trade associations, major pipeline operators and manufacturers, oilfield service companies, drilling companies, energy-related engineering firms and consulting firms. In addition, Canada’s national energy regulator - the National Energy Board and the Alberta Energy Resources Energy Board, Alberta Utilities Commission, the Canadian Association of Petroleum Producers (CAPP), Petroleum Services Association of Canada (PSAC) and numerous other industry bodies and associations are headquartered in Calgary.

Calgary is also becoming an innovative and globally recognized centre for

financing, designing, constructing and operating affordable, sustainable and renewable sources of energy.No other industry in the country is as highly concentrated as Canada’s energy sector. The decisions made in downtown Calgary affect multi-billion dollar projects in Alberta, Canada and around the world. This concentration of industry makes Calgary a global leader in all aspects of energy: project design, exploration, production, finance, processing, transportation, marketing and management.


FDI Magazine (2011) – American Cities of the Future

Calgary is #3 in Top 10 Major Cities for Quality of Life

Economist Intelligence Unit –

Calgary 5th most liveable city in the world in 2011


56 per cent

Calgary witnessed a

increase in head office growth from 2001 – 2010, boasts the highest ratio of head offices per capita in Canada and continued to grow in 2011.

Head Offices (2001, 2010) Census TotalMetropolitan Area 2001 2010 Growth

Toronto 317 260 -18.0%Calgary 79 123 55.7%Montreal 121 102 -15.7%Vancouver 71 8 7 22.5%Edmonton 14 23 64.3%Ottawa 19 18 -5.3%Source: FP500 2011 Database; FP500 2002 Database.

A complete listing of energy companies located in Calgary is available in the Appendix.

109876543210

Calgary Toronto Vancouver Montreal Edmonton Ottawa

20 20 10 01

Source: FP500 2011 Database; FP500 2002 Database; Statistics Canada.

Head Offices per Capita(Per 100,00 persons)Selected Census Metroplitan Areas

Head offices have long been acknowledged as a company’s “brain.” It is the location where all operational and strategic decisions are made and where corporate culture is established. Head offices employ highly skilled professionals and create economic spillover by engaging outside business support, such as legal, financial and advertising services, all of which are important contributors to Calgary’s economy.


Calgary has a great energy and a great story

CALGARY

EDMONTON

GRAND PRAIRIE

FORT MCMURRAY

JASPER

BANFF

Calgary is a diverse and prosperous city in the foothills of the Rocky Mountains, where the Bow and

Elbow rivers meet. With more days of sunshine than any other major

Canadian city and less than an hour’s drive from the Rockies, it’s easy to

see why Calgarians enjoy an active, healthy lifestyle.

But Calgary is much more than its geography. It is a place where, for

generations, people have chosen to follow their dreams, build new lives,

and find their place in the world.

With the youngest, and second

most educated population

in Canada, it’s easy to see why Calgary is the location

of choice for people and businesses seeking to make

a living, and make a life.


An economy poised for growth

Economic performance highlights Calgary Economic Region % of changeIndicators Unit 2011 2010 2010-2011Gross domestic product** 2002 $ Millions 64,509 62,597 3.1%Population Persons 1,362,370 1,337,160 1.9%Working age population Persons 1,110,900 1,089,800 1.9%Labour force Persons 826,400 811,000 1.9%Employment Persons 779,300 755,300 3.2%Employment rate % 70.2 69.3 1.3%Unemployment rate % 5.7 6.9 -17.4%Labour force participation rate % 74.4 74.4 0.0%Net migration Persons 13,260 11,022 20.3%Housing starts* House Units 9,292 9,262 0.3%MLS benchmark single-family home price** $ 421,778 401,212 5.1%Value of building permits $ 5,489,148,000 3,863,178,000 42.1%Consumer price index* 2002=100 125.4 122.7 2.2%Retail sales* $ Millions 23,131.11 21,671.34 6.7%Industrial space vacancy** ^ % 3.1 3.8 -18.4%Downtown office space vacancy** ^ % 5.7 13.0 -56.2%Suburban office space vacancy** ^ % 9.5 13.6 -30.1%*denotes Census Metropolitan Area geography **denotes City of Calgary geography; ^ Q4 data Source: Statistics Canada, Conference Board of Canada, City of Calgary Corporate Economics, CMHC, CB Richard Ellis, Calgary Real Estate Board

CompetitivenessCalgarians enjoy a low tax regime; the province of Alberta has no municipal sales tax, provincial sales tax or provincial general capital tax. The province also boasts the lowest provincial corporate tax rate in Canada. In 2006, the provincial government dropped the general provincial corporate tax rate from 11.5 per cent to 10 per cent to ensure Alberta’s global competitiveness.

Moreover, the Canadian corporate income tax rate has steadily decreased from 22 per cent in 2007 to the current rate of 15 per cent in 2012, and as a result Canada has the lowest corporate income tax rate in the G7.

Calgary businesses also benefit from the fact that Alberta has no inventory tax, no machinery and equipment tax and no payroll tax. Since 2001, the provincial government has cut the small business rate in half (from six to three per cent) and more than doubled the small business income tax threshold to $500,000.

Alberta is the only Canadian province to currently have a flat personal income tax rate (10 per cent); all other Canadian provinces work on a sliding income scale. Alberta’s beneficial tax regime creates an environment in which businesses can operate more profitably and individuals can retain more of their personal income.

Alberta has a Scientific Research and Experimental Development (SR&ED) tax credit program which provides a refundable tax credit to corporations for SR&ED expenditures incurred in the province. The program came into effect on January 1, 2009 for SR&ED expenditures incurred after December 31, 2008. A corporation with a permanent establishment in Alberta at any time during the taxation year and that carries on eligible activities is eligible to make a claim. The tax credit offers a maximum of $400,000 and is based on 10 per cent of the eligible Alberta SR&ED expenditures to a maximum expenditure limit of $4 million.

After weathering the 2008 global economic recession, Calgary has demonstrated a tremendous recovery and is expected to lead Canada in economic growth over the next decade as new energy projects are developed.


Energy Related OccupationsLabour Force and Employed in Calgary (CER)By 2,3,4 Digit NOCS, Annual Averages 2008-2011 2008 2009 2010 2011C013: Geologists, Geochemists & Geophysicists 4.3 4.8 5.1 5.7C031: Civil Engineers 2.5 4.8 4.2 5.2C032: Mechanical Engineers 2.4 4.2 3.7 4.9C033: Electrical & Electronics Engineers 3.1 2.7 3.0 3.0C034: Chemical Engineers 2.2 0.0 1.8 1.9C045: Petroleum Engineers 9.6 9.5 9.9 8.4C112: Geological & Mineral Technologist & Techinicia 2.6 3.1 4.0 3.7I132: Oil, Gas Well Drillers,Servicers, Testers, REL 3.2 2.6 3.2 3.4I122: Supervisors, Oil & Gas Drilling & Service 3.2 2.9 1.6 3.0NOTE: figures are in thousands; 0.0 are estimates less than 1500

Human energySome of the best and brightest people in the world have been attracted to Calgary because of Alberta’s economic growth and opportunity. As North America’s energy centre, the city has the highest concentration of engineers and engineering technologists in the country. Calgary’s employment is focused in the financial, scientific, technical, professional, engineering and high-tech service sectors that serve the energy industry, with much of Calgary’s employment growth focused in professional services.

Post-secondary institutions, including the University of Calgary’s Schulich School of Engineering and Institute for Sustainable Energy, Environment & Economy (ISEEE) and SAIT Polytechnic’s MacPhail School of Energy, offer thousands of students world-class education and training in all major areas of the energy industry including (but not limited to): petroleum, electrical, chemical, mechanical, geomatics and oil and gas engineering. The next generation of business leaders is being trained at the University of Calgary’s Haskayne School of Business Global Energy Executive MBA program.


Financial energyCalgary’s finance and business industry has experienced significant growth with 13,300 new jobs created over the past ten years, an increase of 39 per cent. As a result of the strength of the energy sector, most major Canadian financial institutions and lenders have a presence in Calgary, along with a growing list of international financial institutions.

As the world market for energy focuses its attention to Calgary, the number of oil and gas deals has been on the rise. Below is a table from CIBC World Markets, which highlights Canada has had the second highest total deal value globally since 2010 and is first in terms of the number of deals in oil and gas equity issuance.

Nearly all of the companies involved in these deals are based in Calgary. Of the 394 oil and gas listings on the TSX and the TSXV, Alberta-based companies account for 93 per cent of their market capitalization. While the Toronto Stock Exchange (TSX) is located in Toronto, the TSX Venture (junior exchange) is co-headquartered in Calgary.

Global Financial Centre Index (GFCI) -

Calgary ranks 28 out of 77 global cities- the city’s inaugural listing on the global financial centre competiveness index

Toronto Board of Trade, Global Scorecard on Prosperity 2012 –

Calgary’s Finance Cluster 4th best among 12 leading North American cities

Ranking by Exchange Nationality – Oil & Gas Equity Issuance since 2010

YTD 2012 (April) 2011 2010 Total Deal Deal Deal DealExchange Value % Value % Value % Value % Nationality Rank ($m) No. share Rank ($m) No. share Rank ($m) No. share Rank ($m) No. shareUnited States 1 9,816 29 43 1 20,537 90 37 1 30,107 77 35 1 60,459 196 37Canada 2 2,896 32 13 2 10,456 168 19 3 11,247 198 13 2 24,599 398 15Brazil 8 1,435 2 3 2 16,101 3 19 3 17,536 5 11Australia 7 1,062 32 5 3 4,830 95 9 5 6,868 94 8 4 12,761 221 8United Kingdom 8 801 15 4 5 3,433 60 6 4 7,799 84 9 5 12,032 159 7Norway 6 1,382 10 6 6 2,939 23 5 7 3,598 27 4 6 7,919 60 5Japan 27 9 1 .02 6 6,187 1 7 7 6,196 2 4China 11 137 1 .6 4 4326 7 8 10 809 5 1 8 5,272 13 3India 3 2,584 1 11 7 2091 1 4 17 97 2 .1 9 4,772 4 3Hong Kong 4 2,053 3 9 15 278 6 1 8 1,036 12 1 10 3,366 21 2

Bank of AmericaThe Bank of ChinaBarclays CapitalCitigroupDeutsche BankFortis BankGoldman SachsHSBCICICI BankMF GlobalMerrill LynchRoyal Bank of Scotland Société Générale

{International financial institutions in Calgary include:


CAPP estimates that 87 per cent of world oil reserves are owned by national oil companies belonging to national governments. Of the remaining 13 per cent of global reserves, just over

half is accounted for by the Canadian oil sandsmaking Calgary one of the few energy markets open for foreign investment.


Since 2009, Calgary and Alberta's energy sector has seen significant international investment. Some recent major investments include:+ January 2008 - Taqa North [Abu Dhabi] invested $7.5B into three

separate acquisitions including Prime West Energy Trust

+ December 2009 - KNOC [Korea] invested $4.1B to acquire Harvest

+ February 2010 - Korea Gas Corporation [Korea] invested $1.1B to develop properties in BC with Encana

+ March 2010 - PetroChina [China] invested $1.9B to acquire 60 per cent of Athabasca Oil Sands Corporation

+ April 2010 - Sinopec [China] invested $4.65B to acquire nine per cent of Syncrude

+ June 2010 - Chinese Investment Corporation [China] invested $1.25B to acquire 45 per cent of Penn West’s stake in the peace river oil sands partnership

+ November 2010 - PTT [Thailand] invested $2.28B to acquire 40 per cent of KKD partnership in the oil sands

+ January 2011 - Sinopec [China] invested in Enbridge gateway pipeline project

+ July 2011 - CNOOC [China] invested $2.1B to acquire OPTI

+ October 2011 - Sinopec [China] invested $2.1B to acquire Daylight Oil Sands


Calgary; a safe and secure destination for foreign investment

Forbes (2011) ranked

Canada the best country to do business due to our:

+ Economic resilience and strong banking system

+ Solid tax regime, protecting investors and dealing with red tape

+ Affluent, high-tech industrial society in the trillion-dollar class

Forbes (2011) named

Calgary as one of the four fastest growing cities in North America, emerging as a world’s powerhouse due to:+ Projected economic growth + Being business friendly due to tax

structure and minimal red tape + Investment opportunities+ Calgary being a great place to live

with a strong community + Relatively affordable housing

on an income/cost perspective

The energy companies headquartered in Calgary are fortunate to operate in Canada’s fiscally and politically stable environment. It’s easy to conduct business in Calgary due to a well-connected business community where deals are often noted for being done on a handshake. Royalties are competitive and the provincial government is committed to ensuring they remain so into the future. Regulatory burdens are minimized as the regulatory system is precedent based, largely rules driven, fair and consistent and provides all parties with the right to be heard or have their concerns addressed.


Leading the industry with sustainable and renewable energy

Calgary companies are leading the way in the development of innovative energy solutions. The industry continues to develop initiatives to ensure that work being done in the Alberta oil sands meets high sustainability and stewardship standards.


Oil Sands Leadership InitiativeThe Oil Sands Leadership Initiative (OSLI) is a collaborative network between ConocoPhillips Canada, Nexen Inc., Shell Canada, Statoil Canada, Suncor Energy Inc. and Total E&P Canada. The OSLI vision is to achieve world-class environmental, social and economic performance in developing Canada’s oil sands resource. Each company develops its assets individually, but works collaboratively to achieve significant improvements in key performance areas: environmental sustainability, social well-being and economic viability.

In addressing oil sands challenges, OSLI undertakes work in the project areas of land stewardship, water management, technology breakthrough and sustainable communities.

OSLI is a precursor of COSIA and is actively involved in shaping the larger collaborative effort.

For more information

Oil Sands Leadership Initiative www.osli.ca

Canada’s Oil Sands Innovation AllianceCanada’s Oil Sands Innovation Alliance (COSIA) is an alliance of oil sands producers that formed in 2012 to focus on accelerating the pace of improvement in environmental performance in Canada’s oil sands through collaborative action and innovation. The CEO’s of 12 companies came together in Calgary to sign the COSIA charter, signifying their agreement with COSIA’s vision, their support of the alliance’s beliefs, and their pledge to uphold the commitments put forward in the charter

The goal is to bring together leading thinkers from industry, government, academia, environmental organizations, aboriginal groups and the wider public to improve measurement, accountability and environmental performance in the oil sands in four priority areas. These four environmental priority areas (EPAs) are tailings, water, land and greenhouse gases.

COSIA will aim to take innovation and environmental performance in the oil sands to the next level, building on the experiences and successes of earlier oil sands organizations such as the Canadian Oil Sands Network for Research and Development (CONRAD), the Oil Sands Leadership Initiative (OSLI) and the Oil Sands Tailings Consortium (OSTC).


Canada’s Oil Sands Innovation Alliance www.cosia.ca

Alberta Energy Efficiency AllianceThe Alberta Energy Efficiency Alliance (AEEA) is a group of industry, municipal and non-profit organizations and associations working to maximize energy efficiency in the province. Started in mid-2008, the Alliance currently has 20 members and is actively working on projects in the industrial, residential and non-residential sectors.

In February 2012, the AEEA held its second full day event in Calgary. Receiving very positive feedback from the sold-out audience, AEEA has developed a discussion paper on how to develop an initiative to make Alberta the national leader in energy efficiency and sustainability.


Alberta Energy Efficiency Alliance www.aeea.ca

Alberta is EnergyAlberta is Energy is a website that engages the community via discussions through their site, social and mainstream media and town hall meetings. Alberta is Energy’s goal is to build awareness of how the energy industry affects the province in positive ways. It is supported by Alberta’s business associations and more than 3,500 members with a stake in the long-term responsible development of Canada’s oil and gas resources. Calgary Economic Development is a participating partner in Alberta is Energy. The other organizations involved are:

• AlbertaEnterpriseGroup • CanadianAssociationofGeophysicalContractors • CanadianAssociationofPetroleumProducers • CanadianAssociationofOilwellDrillingContractors • CalgaryChamberofCommerce • CanadianEnergyPipelineAssociation • CanadianManufacturersandExporters • PetroleumServicesAssociationofCanada • SmallExplorersandProducersAssociationofCanada • SynergyAlberta


Alberta is Energy www.albertaisenergy.ca


Alberta’s energy strength


Alberta produces nearly 70 per cent of Canada’s crude oil and almost 80 per cent of its natural gas. Canada is the sixth largest producer of oil in the world (BP Statistical Review 2011). CAPP estimates that

oil production for Western Canada will reach 3.7 million barrels per day by 2025, which will mean that the region could represent nearly five per cent of global oil production by 2025. Canada is the largest petroleum exporter to the United States. In 2011, according to the American Petroleum Institute, Canada accounted for a significant and ever-growing 29 per cent of US crude imports, well ahead of Saudi Arabia at 14 per cent and Venezuela at 11 per cent.

However, it is not just production that drives Alberta’s energy sector. Innovations in technology, such as the Steam Assisted Gravity Drainage (SAGD) system, have enabled development of 80 per cent of oil sands reserves that are too deep to be mined.

Local innovations and research are increasingly found within Calgary and Alberta’s Sustainable and Renewable Energy (SURE) sector. Calgary has been successful in attracting national research initiatives focused on research and innovation in greenhouse gas emission reductions, renewable energy and energy systems and technologies. Collective energy knowledge and advancements in technology are fundamental to expanding the SURE sector, and Calgary’s advancements are supported by a network of research and post-secondary institutions, think tanks and innovators within business and government. Additionally, Calgary companies are world leaders in innovations around carbon capture and storage and also more recently, CO2 air capture technology.

Collaboration and research between conventional, unconventional and SURE organizations will allow Alberta’s energy industry to remain competitive, drive economic growth and sustain production volumes.

Alberta’s energy sector is the key economic driver in the province and has been growing for many decades. The rich resources available in Alberta account for the third largest reserves of crude in the world (after Saudi Arabia and Venezuela)

and the largest global deposits of oil sands. According to RBC, the massive investments in the energy sector will reach new heights in 2012. Statistics Canada’s investment intentions survey report indicated that oil and gas extraction firms plan to spend a record $48 billion this year on capital outlays, representing a 16.2 per cent increase from 2011. Stronger spending on the pipeline infrastructure will further add to the total outlay.

+ Approximately 3.3 million barrels a day of both conventional crude and oil sands produced in Canada (BP Statistical review 2011)

+ In 2010, there were total net cash expenditures of $37 billion and a total of $702 billion dating back to 1981. The 2010 amount in Alberta accounted for 61 per cent of all oil and gas expenditures in Canada. (CAPP – expenditures consist of exploration, development, operations and royalties)

+ Employment in Canada (direct, indirect, and induced) as a result of new oil sands investments is expected to grow from 75,000 jobs in 2010 to 905,000 jobs in 2035. This type of employment includes new and preserved jobs and also consists of full-time and part-time jobs. (CERI 2011)

+ Total GDP impact of oil sands investment and operations over a 25-year period is estimated to be $2,106 billion for Canada, and $521 billion for the US. (CERI 2011)


Conventional energy

Alberta’s conventional oil and natural gas industry has been a key driver of Calgary and Alberta’s economy since 1947, when the province’s first major oil field was discovered in Leduc. While our economy continues to diversify, there is no denying the importance that conventional oil and natural gas continue to have in both economic sustainability and job creation.


Conventional oilAlberta Energy (http://www.energy.alberta.ca) reported that in 2010, Alberta produced 459,000 barrels per day of conventional light, medium and heavy crude. This conventional crude oil production made up approximately 24 per cent of Alberta’s and 17 per cent of Canada’s total crude oil and equivalent production. The crude oil produced is exported to other markets -including the United States, other parts of Canada and offshore locations.

Development of Alberta’s conventional oil industry has created an extensive infrastructure, supporting the continued drive to locate, drill for and transport oil to market. Calgary is headquarters to major North American pipeline and energy distribution companies such as TransCanada Corporation, Enbridge, Kinder Morgan, ATCO Pipelines and Alliance Pipeline.


CAPP Small Explorers and Producers Association of Canada www.capp.ca www.sepac.ca

Natural gasNatural gas is one of the cleanest, cheapest and most efficient sources of energy. Alberta is home to a large natural gas resource base that accounts for just over 75 per cent of the natural gas produced in Canada.

In Alberta, 20 per cent of natural gas produced is used for heating residential and commercial properties. The remaining 80 per cent is used in sectors including industrial, electricity generation and transportation. Companies such as ATCO Gas (www.atcogas.com) deliver natural gas to communities across Alberta in the residential, commercial and industrial sectors.

Alberta’s total reserves of natural gas are 917 trillion cubic feet, including conventional natural gas reserves and coalbed methane reserves. Of this, Alberta Energy estimates the province’s recoverable, conventional natural gas to be 73 trillion cubic feet.

Natural gas is also a material used for oil sands and electric power generation, which are seen as key to diversifying Alberta’s energy industry. Another opportunity is the use of natural gas in transportation vehicles. Companies such as Encana Corporation are currently developing the necessary infrastructure to make natural gas vehicles for industrial and public use a reality.


CAPP Small Explorers and Producers Association of Canada www.capp.ca www.sepac.ca

Pipelines

Alberta is home to a pipeline infrastructure of over 403,000 kilometres of crude oil, natural gas and other pipelines. Calgary is the decision-making headquarters for a number of large North American pipeline companies and home to the Canadian Energy Pipeline Association (CEPA). Alberta’s network of operating pipelines link major production areas, markets and export terminals throughout North America. The development of new export pipelines and expansions (to join with existing pipelines in the United States) has allowed Alberta gas to be fully integrated into the North American gas marketplace. Future opportunities for pipeline growth will provide an avenue for Alberta heavy crude and liquefied natural gas (LNG) to access larger global markets, especially in Asia, as well as extending the reach of Canadian crude to refineries on the US Gulf Coast, thereby boosting prices and diversity in the customer base. There is also potential for reversing existing pipelines to take Albertan crude to central and eastern Canada.


Canadian Energy Pipeline Association www.cepa.ca


Chemical manufacturing and petrochemicalsThe chemical manufacturing industry in Calgary produces petrochemicals, fertilizer, plastics, rubber products, polystyrene foam products, paints and a variety of other chemical products.

Petrochemical production is one of the largest manufacturing industries in Alberta and the province is Canada’s leading producer of petrochemicals. The province is home to four petrochemical plants with a combined annual production capacity of 8.6 billion pounds of ethylene. Two of Alberta’s petrochemical plants, located in Joffre and Fort Saskatchewan, are among the worlds largest.

The current viability of the province’s petrochemical industry is based on access to a long-term, secure and economic supply of liquefied natural gas (LNG) feedstock, particularly ethane and the ability to develop suitable competitively priced products for international markets. As conventional gas production declines, less ethane will be available for use by the petrochemical sector. The Incremental Ethane Extraction Policy (IEEP) is a 10-year initiative to encourage increased production of ethane extraction from natural gas and gases produced as by-products of bitumen upgrading. Off-gases are a mixture of hydrogen and light gases; the majority of the off-gases produced from oil sands upgraders are presently being used as fuel for oil sands operations. However, it is estimated that with new refining, capacity up to 150,000 barrels of ethane could be produced from bitumen upgrading and used for petrochemical feedstock.


Natural Resources Canada www.nrcan.gc.ca/home

CoalCoal is the world’s most abundant fossil fuel. Canada is ranked tenth in the world in total coal reserves. Alberta currently has an estimated 37 billion tons of coal remaining to be mined. Alberta’s coal contains more than twice the energy of the province’s other non-renewable energy resources, including conventional oil, natural gas, bitumen and synthetic crude. The Coal Association of Canada is headquartered in Calgary.


Coal Association of Canada www.coal.ca


Eighth Avenue Place -

Canada’s first and North America’s third LEED Platinum high-rise office building


Unconventional energy

Calgary and Alberta’s unconventional energy industry focuses on methods of energy production and distribution outside of conventional oil and natural gas.


Shale gasShale gas is an unconventional source of energy – it is the natural gas contained within silt and sandbeds interbedded in shale rocks. It is considered an unconventional energy because the technology and recovery techniques required to access the shale gas are advanced. As with renewable energy sources, the province is looking to unconventional sources such as shale gas to diversify the economic output of the energy industry. Shale gas production in Canada, as in the United States, has expanded dramatically over recent years, especially in Western Canada with the Montney and Horn River basins. Calgary supply and service firms are experts in technologies such as horizontal drilling and hydraulic fracturing used for shale gas production.

There are several multi-billion dollar projects in the planning stage to build pipelines to the west coast of British Columbia to export LNG from the provinces of Alberta and BC to Asian markets, where prices have recently been several times higher than Henry Hub prices in North America.


Alberta Energy Canadian Society for Unconventional Resources www.energy.alberta.ca www.csur.com

Tight oilThere are a growing number of smaller companies that are focused on emerging opportunities in tight oil, poised to revolutionize oil production in North America much in the way that shale has done for natural gas. Key areas for smaller sized companies are the Cardium Formation in West Central Alberta, the emerging Alberta Bakken play in southern Alberta and the Duvernay. While the Cardium play is being built around a long history of conventional production from a number of fields that have been producing since the mid 1950s, the Alberta Bakken is a new play.

On May 6 2011, the National Energy Board released the first probability-based resource assessment of a Canadian shale basin. The report estimates the shale-gas resource of the Horn River Basin in northwest British Columbia at 78 trillion cubic feet of potential marketable gas. The liquids-rich Alberta Duvernay, although less thoroughly examined to date, is a far larger formation.


Canadian Society for Unconventional Resources www.csur.com

Oil sandsOil sands, like conventional oil and gas, are a key economic driver for Alberta’s energy industry. The oil sands are deposits of bitumen – low-viscosity oil – that will not flow unless heated or diluted with lighter hydrocarbons. According to Alberta Energy, there are currently 174 billion barrels of recoverable oil in Alberta’s oil sands. There are hundreds of billions of additional barrels that could be recovered; however, this requires more favourable economic conditions and new technology to extract and process.

Oil sands recovery and extractionThere are two methods for extracting and recovering bitumen from the oil sands. In mining recovery methods, large areas of land are cleared of trees and brush then the top soil and clay are removed to expose the oil sand. This surface mining method uses large trucks and shovels to remove the sand, which can have a volume of anywhere from 1-20 per cent of actual bitumen.

While mining accounts for 20 per cent of recoverable oil sands, in situ recovery accounts for the remaining 80 per cent. In situ technology is used to extract bitumen that is buried too deep below the earth’s surface to be recovered through mining. To recover the bitumen, in situ technology injects steam deep beneath the earth to separate the bitumen from the sand and pump it to the surface. Steam Assisted Gravity Drainage (SAGD), developed in Alberta from 1986-1998, is the most common form of in situ recovery.

Oil sands and the environmentFor Alberta’s oil sands industry, strict industry regulations are in place to ensure the ecosystems in and around the oil sands are supported and reclaimed appropriately. Industry is legally obligated to return any land disturbed in bitumen recovery to a productive state – a process referred to as reclamation. Land that is being reclaimed must adhere to a strict set of standards and once it is certified as reclaimed, the land must be monitored to ensure the chemical and physical properties of foliage re-growth are healthy and within industry standards.

In addition, Alberta is the first North American jurisdiction with regulations that require mandatory greenhouse gas reductions from major emitters such as the oil sands. Industry players that do not meet the targets set by the government must purchase offsets or pay $15 per tonne of CO2 emissions into a technology fund (Climate Change and Emissions Management Fund). This fund to date has seen over $100 million invested in supporting projects aimed at developing more renewable forms of energy and sustainable hydrocarbon energy development.


Canadian Association of Petroleum Producers Oil Sands Developers Group In Situ Oil Sands Alliance www.capp.ca www.oilsandsdevelopers.ca www.isoa.ca


ElectricityCritical to residential, commercial and industrial properties, Alberta’s energy industry utilizes its framework of transmission lines to move electricity from generator to consumer. As Canada’s only fully deregulated electricity market, Alberta offers extensive opportunities for renewable power generation and smart grid technology. Alberta’s competitive electricity market has resulted in over 6,500 megawatts (MW) of new electricity generating capacity since 1998. There is currently 13,638 MW of capacity in Alberta and 21,000 kilometres of transmission lines. There is interest from industry to invest another 16,000 MW of new power development in the future to meet demand.


Alberta Electric System Operator www.aeso.ca


Energy industry servicesCritical to the continued success and sustainability of Alberta’s energy industry is the petroleum-related service, supply and manufacturing sectors. The organizations in this sector provide the specialized equipment and skills needed for drilling, testing, producing, maintaining and reclaiming crude oil and natural gas wells. In addition, many of these organizations are innovating and developing highly advanced technology, such as that used in the development of oil sands, shale gas and tight oil. These new technologies have gained the attention of the international energy community and are being requested in markets such as Colombia and Brazil.

Calgary also has the highest concentration of engineers, physical scientists and technician professionals of any major city in Canada. Notably, Calgary has Canada’s highest concentration of mechanical engineers, electrical engineers, chemical engineers, geologists, geochemists, geophysicists, architects, accountants, auditors and technical occupations related to natural and applied sciences.

Alberta’s energy sector is also supported by an infrastructure of professional services that are concentrated in Calgary. Professional services provide the research, development, engineering, technical consulting and technology to support the growth of Alberta’s energy industry. Calgary scientists and engineers have been instrumental in the development of techniques for horizontal drilling, shale fracking, SAGD, toe-to-heel air injection and other new technologies for extracting hydrocarbons – many of which were not in use a decade ago.

The combination of engineering, science and business talent has made Calgary one of Canada’s most innovative and successful cities for green technology commercialization and sustainable energy development.


Petroleum Services Association of Canada www.psac.ca


Sustainable and renewable energy


Alberta is responding to the world’s growing demand for affordable, renewable and sustainable energy and Calgary is playing an increasing role in this sector as it develops.

Calgary’s SURE sector is unique. Calgary is a leading global energy centre, and its strength in energy has been built upon the province’s vast hydrocarbon resources. Few regions in the world can match the breadth and depth of Alberta’s significant oil, bitumen, natural gas and coal sectors. Much of Calgary’s SURE sector has developed around technologies to ensure these resources are produced in the most environmentally-responsible manner.

Globally, markets for renewable energy through wind, solar, hydro, thermal and biomass sources are expanding at a tremendous rate and Calgary’s SURE sector is also experiencing strong growth in these categories. Calgary is well-equipped to support firms that are developing and commercializing new clean technology through a combination of human, financial, knowledge-based and environmental resources. Announcements of planned investments are increasing in Calgary’s SURE sector, focusing on areas including smart grid technology, district heat, cogeneration, biofuel and hydro power.

In addition to the talent employed in the SURE sector, the University of Calgary houses the Institute for Sustainable Energy, Environment and Economy (ISEEE), which undertakes world-class interdisciplinary research, innovation and education. ISEEE focuses on creating secure, competitive energy supplies for a clean environment and a strong economy.

As opportunities continue to open, Calgary is growing as a leading centre for sustainable and renewable technology, including carbon capture and storage and CO2 air capture.

Calgary has multiple companies working in the fields of carbon capture and storage and enhanced oil recovery, including major prospects sponsored by Shell (QUEST initiative), Enhance Energy (building the Alberta Carbon Trunkline) and Swan Hills Synfuels. These projects combined have already received over $1.5 billion of public support from the Government of Alberta.

Alberta’s investment in CCS does more than enable the development of three large-scale projects; it also helps make the technology more accessible and bring down the cost of CCS over time by requiring information and learnings from the three projects be made publicly available. This will mean future CCS projects around the world will benefit from Alberta’s early projects.

Carbon negative technologies are another area of opportunity for Calgary and Alberta to lead the world. In November 2001, Calgary hosted the first event showcasing the finalists in the Virgin Earth Challenge, which offers a $25 million prize to the first company adjudged by a panel of experts to have created a viable industrial-scale, economically robust proposition for directly capturing and using CO2 from the atmosphere.

Technologies presented included biochar and air capture, with Calgary-based Carbon Engineering (led by Professor David Keith of the University of Calgary and Harvard) one of the leading pioneers. Virgin Earth Challenge finalist, Colorado-based, Biochar Solutions also recently established offices in the province of Alberta.

There are excellent potential opportunities for collaboration between such pioneers and the natural resource sector, to enhance environmental stewardship and performance. Alberta’s oil and gas industry has the need and the desire to develop solutions to meet environmental challenges. Calgary Economic Development is actively supporting these initiatives.


Wind energyCalgary is seen to be a leader in wind energy production across Canada. Calgary wind energy firms own or operate over 50 per cent of Canada’s installed wind generation facilities. As a province, Alberta has also been a pioneer in wind production and boasts a current installed wind production capacity of 656 MW. An additional 1,040 MW of new generation capacity is currently contracted and under construction in Alberta and over 7,800 MW of wind projects are currently in the queue for future connection to the grid by the Alberta Electric System Operator (AESO). This is more than double the current installed production capacity for Canada (3,457 MW).

There are currently over 50 major wind generation projects planned across Alberta that have achieved approval for connection to the grid by 2015. In addition, Calgary is home to Canada’s premier wind developers who are active in both Alberta and other global markets.

Solar energyWith Alberta being one of the sunniest provinces in Canada, tremendous potential exists for the solar industry to become a key energy industry in Calgary. Solar power has a long history in Alberta’s oil and gas industry where it is used to power remote monitoring and control systems. However, steady cost reductions have made solar power a very attractive option for mainstream grid tied systems as well.

According to the Canadian Solar Industries Association, Canada’s total Photo Votaliac (PV) solar power installed capacity reached 94.57 MW in 2009. In Alberta, most PV solar installations are off-grid installations in Alberta’s oil patch and there is growth being seen in large-scale PV solar installations.

Calgary is poised to benefit from micro-solar installations as material costs decline and the provincial microgeneration policy supports growth of the market. In Alberta, microgeneration is defined as up to one megawatt of electricity produced from renewable sources such as solar, small-scale hydro, wind or biomass. Calgary has over 333 days of sunshine a year, making it an ideal location for the growth of micro-solar installations and large scale PV solar installations.

As with many of the renewable energy sub-sectors in Calgary, local companies are developing innovative technology and practices in wind and solar energy. Interestingly, while there are many solar and wind energy projects across Canada, most of the firms operating these projects are based in Calgary.

Suncor, based in Calgary, is a Canadian pioneer in wind power with four wind farms in operation and has other projects in the planning stages. The four farms have a generating capacity of 147 MW and reduce carbon dioxide emissions by approximately h284,000 tonnes each year. TransAlta, also based in Calgary, is Canada’s largest producer of wind power, operating over a third of the country’s installed wind capacity. In 2010, the firm achieved a major milestone of over 1,000 MW of installed wind capacity in Canada.

In solar energy, Calgary-based Sustainable Energy Technologies was formed to design, manufacture and distribute products based on a patented and proprietary power inverter platform which converts extra low voltage direct current inputs into grid quality power with high conversion efficiencies. The technology is unique as it enables solar PV systems to be designed so each module operates at its optimum power point under all conditions independently of the other modules in the system. This system reduces losses from partial shading of the modules due to normal building congestion, and eliminates losses resulting from variances in power output due to manufacturing tolerances. The result is significantly higher yields under real world conditions that can be obtained using conventional solar inverter technologies.


Solar Energy Society of Alberta www.solaralberta.ca

Calgary wind energy firms own or operate over

50 per cent of Canada’s installed wind generation facilities.


Renewable fuelsGrowth in Alberta’s renewable fuels is supported by the provincial Renewable Fuels Standard (http://www.energy.alberta.ca) that requires five per cent renewable alcohol in gasoline and two per cent renewable diesel in diesel fuel. It is further supported by the Bioenergy Producer Credit Program (http://www.energy.alberta.ca), which seeks to increase investment in second-generation ethanol using feedstocks like forestry, agricultural and municipal waste.

There are currently two renewable fuel plants in operation in Alberta and three under construction. Combined, these five plants will increase biodiesel and biofuel production from 59 million litres per year to 386 million litres per year.

There are many opportunities for innovation in biofuel and biomass production. Calgary-based Expander Energy is pioneering the creation of the first enhanced gas to liquids refinery from multiple feedstocks, including natural gas or high carbon content waste materials such as biomass or municipal solid waste. The company has completed its preliminary engineering design study for the refinery, and Expander Energy’s website (www.expanderenergy.com) provides more information on the project, along with other innovations the company has developed.

Calgary and Alberta’s strong forestry and agriculture industries will continue to allow for growth in production and innovation of biofuels, biomass and renewable fuels.

Alberta’s electricity system is supported by one ethanol and one biodiesel producing facility that produce a combined output of 59 million litres per year. Alberta has a wide range of feedstock available for biofuel generation, from forestry residuals to agricultural products and by-products, to waste generated in cities and towns.

Currently, almost all of Alberta’s 193 MW of biomass-fired electricity capacity is fuelled by wood waste from the province’s forestry industry. The use of cellulosic biomass (such as ethanol) for bio-energy at industrial scale has the potential to add 10 – 15 per cent incremental contribution to the energy resources of Alberta. There are approximately seven million bone-dry tonnes of forest biomass and 15 million bone-dry tonnes of agricultural biomass produced per year in Alberta.


Alberta Biodiesel Association www.albertabiodiesel.org


The role of Calgary Economic Development“Calgary is a vibrant, bustling centre of economic activity – the ideal city from which to tackle the immense opportunities we see across Western Canada. Calgary Economic Development helped us work through the logistics of establishing our Western Canada headquarters in Calgary, and helped us ensure a very successful launch of the new office.” John M. Beck, Chairman and CEO, Aecon Group Inc.

Calgary Economic Development is a catalyst, a conduit and a connector - helping to spark and fuel the growth that has made Calgary an economic powerhouse. Calgary Economic Development acts as a connector, linking business people with change-makers: investors, advisors, industry leaders, partners and employees. Calgary Economic Development introduces companies to new locations, markets and customers.


Like the city, Calgary Economic Development is collaborative, entrepreneurial, innovative, social, creative and global. As catalysts, conduits and connectors, Calgary Economic Development helps create the pulse and power that energizes Calgary. Calgary Economic Development is proud to be part of the energy.What we can do for your business

Trade missionsChina Missions

In May 2011, Calgary’s Mayor Nenshi, with the support of the Alberta Minister of Finance and Enterprise, led a delegation of more than 70 people from 40 Calgary companies to Beijing and Shanghai on the largest trade mission ever hosted by Calgary Economic Development and Tourism Calgary.

In less than a week, the delegation participated in more than 50 meetings and events, with one of the highlights being the investment symposium. Four of the six Calgary companies who presented identified real investment interest. Following the success of the 2011 mission, Calgary Economic Development organized a follow-up inward investment focused mission to Hong Kong and Beijing in June 2012.

“There’s no doubt that the efforts by Calgary Economic Development to strengthen ties with China, in partnership with a number of Calgary firms, has not only opened doors but helped foster a greater understanding of the business culture in China and how Canadian firms can foster business relationships more effectively”. - Martin Kratz, head of Bennett Jones LLP Intellectual Property Group, 2011 mission delegate

Colombia Missions

Calgary Economic Development led an oil and gas services trade mission to Bogota, Colombia in November 2011 in response to requests from Ecopetrol and other oil and gas operators (many of whom are headquartered in Calgary). There is a shortage of oil and gas service companies in Colombia providing many opportunities for Calgary companies looking to do business there.

The 2011 mission proved so successful that Calgary Economic Development took a follow-up mission to Bogota in May 2012.

+ Assist incoming companies with market information, site location details and networking opportunities

+ Help Calgary-based companies to expand and to succeed in new markets across North America and globally – via trade missions, export-related events, information and links to partner organizations in Canada and abroad

+ Calgary Economic Development’s Global Business Centre is a landing pad for new companies wanting to take advantage of the wide array of opportunities in Calgary and is a launching pad for local companies considering international expansion.


“The Calgary Economic Development mission was very well organized and gave us the opportunity to meet with potential end users, legal, financial and logistics experts. The information we gathered in three days allowed us to move forward with our strategy and we are currently establishing a branch office in Bogota.”-Hans J. Gjerdrum, Vice President International Business Development, Kudu, 2011 mission delegate

Calgary Economic Development is planning future missions to Australia, Brazil, the UK and other jurisdictions – to promote inward investment, trade opportunities and to attract skilled labour through the “Calgary. Be Part of the Energy” people and business attraction campaign.

Incoming missionsCalgary Economic Development hosts between 20 and 30 international trade missions each year. Most of these missions are focused on the energy sector and support international companies in their goals of doing business and having a presence in Calgary.

An example of a company that was supported through one of these trade missions is environmental service company, Golden Environmental from Barrie, Ontario. Golden Environmental was based in Calgary Economic Development’s Global Business Centre in April 2012 to assist the organization in servicing contracts they had won in Calgary.

Sustainable and Renewable Energy Cluster (SURE) Calgary Economic Development is actively working to develop the SURE sector and has brought together 40 local companies to form the SURE cluster. The objective of the group – which meets regularly at Calgary Economic Development’s Global Business Centre - is to connect these local companies with their peers, potential partners, funders and customers with the overarching goal of accelerating the growth of the SURE industry group in Calgary. Calgary Economic Development’s website showcases the many local SURE companies operating in fields such as energy efficiency, cleaner hydrocarbons, wind, solar, geothermal, co-generation and other forms of renewal energy.

In addition, Calgary’s role as co-host - with dmg events - of the Global Clean Energy Congress in 2011 and the International Sustainable Energy Congress in 2012, is another key element in facilitating the sharing of ideas and technology, and most importantly, future collaboration between leaders in the SURE sector across Canada and the globe

World Energy Cities Partnership and Calgary Climate Change AccordIn 2009 Calgary Economic Development and the City of Calgary hosted the 2009 World Energy Cities Partnership (WECP) Annual General Meeting, which marked the historic signing of the Calgary Climate Change Accord, a month before the Copenhagen Summit. Nine cities participated in the Accord: Aberdeen, Calgary, Halifax, Houston, Perth, Port Harcourt, San Fernando, St. John’s and Stavanger.

A large business delegation accompanied each city and Calgary Economic Development provided business-to-business matching services for all the business delegates.

Calgary continues to play a leading role in the WECP, fostering collaboration on emissions reductions and environmental stewardship as well as in higher education and trade/investment co-operation. There are now eighteen cities that participate in WECP including:

Fuel ForwardOn March 21, 2012, Calgary Economic Development, the Canada West Foundation and the Van Horne Institute hosted a half day conference entitled Fuel Forward: Propelling Transportation with Natural Gas. At this event participants explored the future of natural gas as a transportation fuel. The event featured keynote addresses followed by two panel discussions with experts from both the natural gas and transportation industries.

Fuel Forward: Propelling Transportation with Natural Gas introduced and showcased innovations and examined how natural gas can be moved forward as a marketable alternative to other fuel options. Alberta and Calgary are well positioned to become the global leader in utilizing natural gas as a transportation fuel.

A portion of the event was held at Calgary Economic Development’s Global Business Centre in the heart of downtown Calgary. Over 120 industry leaders networked at the event, which also attracted extensive media coverage. A post-event report was authored by Canada West Foundation and can be found at www.cwf.ca.

For a full list of our programs, events and initiatives, please visit us at www.calgaryeconomicdevelopment.com.

Aberdeen, Scotland UKAtyrau, KazakhstanCalgary, CanadaDammam, Saudi ArabiaDaqing, ChinaDoha, QatarDongying, China

Halifax, CanadaHouston, USALuanda, AngolaMalabo, Equatorial GuineaPerth, AustraliaPort Harcourt, NigeriaRio de Janeiro, Brazil

San Fernando, Trinidad & TobagoSt. John’s, CanadaStavanger, NorwayTomsk, RussiaVillahermosa, Mexico


Calgary’s energy companies (Ranked based on status in Calgary. 2010 and 2009 rankings are based on the National FP500 and next 300, June 2011) Rank Rank 2010 No. 2010 2009 Company Revenue (000s) Employees Website

1 3 9 Suncor Energy Inc. 33,961,000 12,076 www.suncor.com2 7 12 Imperial Oil Ltd. 24,946,000 4,970 www.imperialoil.ca3 14 19 Husky Energy Inc. 18,178,000 4,380 www.huskyenergy.ca4 21 25 Enbridge Inc. 15,127,000 6,357 www.enbridge.com5 25 29 Cenovus Energy Inc. 12,973,000 2,375 www.cenovus.com6 26 37 Canadian Natural Resources Ltd. 12,901,000 4,671 www.cnrl.com7 42 24 Encana Corp.* 9,136,100 4,169 www.encana.com8 48 43 TransCanada Corp. 8,064,000 4,230 www.transcanada.com9 53 60 Talisman Energy Inc. 6,802,000 3,078 www.talisman-energy.com10 64 67 Nexen Inc. 5,789,000 3,925 www.nexeninc.com11 99 104 Gibson Energy ULC 3,677,988 n.a. www.gibsons.com12 104 109 ATCO Ltd. 3,445,400 7,726 www.atco.com13 110 119 Canadian Oil Sands Ltd. 3,154,000 22 www.cdnoilsands.com14 119 116 TransAlta Corp. 2,819,000 2,389 www.transalta.com15 121 123 Devon Canada Corp.* 2,726,410 n.a. www.dvn.com16 133 149 Penn West Petroleum Ltd. 2,512,000 2,100 www.pennwest.com17 137 135 ENMAX Corp. 2,404,200 1,646 www.enmax.com18 169 194 Keyera Corp. 1,942,468 598 www.keyera.com19 175 169 Flint Energy Services Ltd. 1,781,340 8,800 www.flintenergy.com20 188 178 Provident Energy Ltd. 1,621,757 200 www.providentenergy.com21 199 312 Trican Well Service Ltd. 1,478,293 3,953 www.trican.ca22 207 233 Precision Drilling Corp. 1,429,653 6,584 www.precisiondrilling.com23 216 243 Ensign Energy Services Inc. 1,355,683 7,355 www.ensignenergy.com24 217 221 AltaGas Ltd. 1,351,090 810 www.altagas.ca25 226 311 Pembina Pipeline Corp. 1,255,102 428 www.pembina.com26 233 342 Crescent Point Energy Corp. 1,189,853 255 www.crescentpointenergy.com27 245 271 Pengrowth Energy Corp. 1,128,131 582 www.pengrowth.com28 246 250 Enerplus Corp. 1,127,677 709 www.enerplus.com29 248 303 ARC Resources Ltd. 1,114,500 500 www.arcresources.com30 251 266 Apache Canada Ltd.* 1,106,220 n.a. www.apachecorp.com31 278 336 Weatherford Canada Ltd.* 998,912 n.a. 32 279 282 Inter Pipeline Fund 997,063 634 www.interpipelinefund.com33 291 385 Calfrac Well Services Ltd. 935,927 2,600 www.calfrac.com34 294 201 Murphy Oil Co. Ltd.* 926,279 n.a. www.murphyoilcorp.com35 306 n.a. PetroBakken Energy Ltd. 858,066 300 www.petrobakken.com36 307 277 Petrobank Energy and Resources Ltd. 858,066 375 www.petrobank.com37 310 353 Baytex Energy Corp. 852,739 219 www.baytex.ab.ca38 322 366 Bonavista Energy Corp. 815,063 n.a. www.bonavistaenergy.com39 333 273 North American Energy Partners Inc. 758,965 2,204 www.nacg.ca40 344 n.a. MEG Energy Corp. 730,286 n.a. www.megenergy.com41 358 365 Veresen Inc. 690,524 109 www.vereseninc.com42 370 391 Trinidad Drilling Ltd. 646,658 3,039 www.trinidaddrilling.com43 371 410 Vermilion Energy Inc. 644,296 316 www.vermilionenergy.com44 378 291 AvenEx Energy Corp. 624,614 43 www.avenexenergy.com

Appendix


45 400 467 Connacher Oil and Gas Ltd. 574,046 265 www.connacheroil.com46 410 531 Daylight Energy Ltd. 542,630 252 www.daylightenergy.ca47 446 584 Savanna Energy Services Corp. 438,396 2,196 www.savannaenergy.com48 448 536 NAL Energy Corp. 425,952 350 www.nalenergy.com49 456 516 Nabors Canada* 400,905 n.a. www.nabors.com50 462 549 Progress Energy Resources Corp. 391,487 129 www.progressenergy.com51 464 n.a. Gran Tierra Energy Inc.* 384,484 307 www.grantierra.com52 485 469 Perpetual Energy Inc. 347,363 260 www.perpetualenergyinc.com53 489 350 Balancing Pool 343,404 7 www.balancingpool.ca54 499 533 Enbridge Income Fund Holdings Inc. 328,100 294 www.enbridgeincomefund.com55 501 502 Advantage Oil & Gas Ltd. 325,242 128 www.advantageog.com56 508 n.a. Niko Resources Ltd.* 315,952 195 www.nikoresources.com57 511 551 NuVista Energy Ltd. 307,994 159 www.nuvistaenergy.com58 522 590 AltaLink, L.P. 295,577 607 www.altalink.ca59 531 594 Peyto Exploration & Development Corp. 286,021 32 www.peyto.com60 539 583 Kinder Morgan Canada Inc* 276,555 n.a. www.kindermorgan.com61 560 627 Trilogy Energy Corp. 259,762 222 www.trilogyenergy.com62 572 744 OPTI Canada Inc. 249,804 20 www.opticanada.com63 573 738 Pason Systems Inc. 249,562 534 www.pason.com64 581 743 Horizon North Logistics Inc. 242,654 992 www.horizonnorth.ca65 592 593 Grande Cache Coal Corp. 232,530 518 www.gccoal.com66 599 n.a. Total Energy Services Inc. 221,640 n.a. www.totalenergy.ca67 612 624 Fairborne Energy Ltd. 209,847 125 www.fairborne-energy.com68 628 691 Galleon Energy Inc. 195,965 50 www.galleonenergy.com69 638 656 Compton Petroleum Corp. 186,027 151 www.comptonpetroleum.com70 652 737 Paramount Resources Ltd. 173,215 215 www.paramountres.com71 663 791 Essential Energy Services Ltd. 166,601 762 www.essentialenergy.ca72 674 710 Crew Energy Inc. 162,174 71 www.crewenergy.com73 677 789 TransGlobe Energy Corp.* 161,246 62 www.trans-globe.com74 692 785 Peak Energy Services Ltd. 152,978 867 www.peak-energy.com75 695 725 Celtic Exploration Ltd. 150,416 52 www.celticex.com76 701 746 Maxim Power Corp. 143,737 108 www.maximpowercorp.com77 705 n.a. Cathedral Energy Services Ltd. 141,396 466 www.cathedralenergyservices.com78 708 758 Badger Daylighting Ltd. 139,611 570 www.badgerinc.com79 712 780 Zargon Oil & Gas Ltd. 137,202 66 www.zargon.ca80 717 757 Birchcliff Energy Ltd. 135,327 65 www.birchcliffenergy.com81 722 783 Freehold Royalties Ltd. 134,063 110 www.freeholdroyalties.com82 731 767 Foremost Income Fund 128,986 450 www.foremost.ca83 746 707 Chinook Energy Inc. 119,958 113 www.chinookenergyinc.com84 748 n.a. Tesla Exploration Ltd. 118,337 n.a. www.teslaexploration.com85 753 n.a. Ithaca Energy Inc.* 115,561 18 www.ithacaenergy.com86 754 786 Pure Energy Services Ltd. 114,694 864 www.pure-energy.ca87 755 787 PHX Energy Services Corp. 114,692 280 www.phxtech.com88 757 n.a. Equal Energy Ltd. 113,471 123 www.equalenergy.ca89 769 796 Bellatrix Exploration Ltd. 108,854 47 www.bellatrixexploration.com90 771 n.a. Bonterra Energy Corp. 107,543 25 www.bonterraenergy.com91 772 n.a. AKITA Drilling Ltd. 106,263 534 www.akita-drilling.com92 785 n.a. Delphi Energy Corp. 101,713 39 www.delphienergy.ca93 792 n.a. Xtreme Coil Drilling Corp. 99,371 435 www.xtremecoildrilling.com94 795 n.a. Technicoil Corp. 94,591 313 www.technicoilcorp.com


We sincerely appreciate the commitment of our Action Calgary partners who provide leadership and financial support to Calgary Economic Development initiatives such as the energy sector profile.

Platinum Partners

Gold Partners

Silver PartnersAeconAlberta Health ServicesAspen Properties Ltd.ATCOBarclay Street Real Estate Ltd.Bow Valley CollegeBurnet, Duckworth & Palmer LLPCalgary Flames Hockey ClubCalgary TELUS Convention CentreCalgary Regional PartnershipCanadian Pacific Cenovus EnergyENMAX

Enbridge Inc.Evans Hunt GroupGovernment of Alberta – Human ServicesGowlingsInnovate CalgaryIvanhoe CambridgeJoe Media GroupKPMGMarathon Oil CorporationMount Royal UniversityMortgage Fund ThreeNexen Inc.OPUS Corporation

RedPoint Media GroupRGO Office Products SAIT PolytechnicSasges Inc.Suncor EnergyTervitaTrico HomesUniversity of CalgaryWAM DevelopmentWestJetWhiteIron Inc.

Alberta College of Art + DesignAxia NetMedia CorporationBennett Jones LLPBKDI Architects Bordeaux DevelopmentsCalgary ChamberCalgary OperaDevitt & Forand Contractors

Element Integrated Workplace SolutionsEncana CorporationFirst Calgary FinancialFMC LawHaworth/HBILawson ProjectsMatthews SouthwestPwC

Quintaro ImagingRBCSizeland Evans Interior Design Inc.SNC-Lavalin Group Inc.Theatre CalgaryWestern Management ConsultantsVRV GlobalZoom Web Video Integration

Bronze Partners

Action Calgary is Calgary Economic Development’s (CED) corporate partnership program. We partner with the Calgary business community to strengthen, diversify and grow Calgary’s economy. Action Calgary initiatives are successful in large part due to the financial investment, leadership and resources from business community partners.

For more information on Action Calgary visit www.calgaryeconomicdevelopment.com or contact Richard Gotfried, Vice President, Corporate and Community Engagement at 403-221-7885.

Action Calgary corporate partners


For more information about our organization, events, other sector profiles or our Global Business Centre, please contact us at: Calgary Economic Development 731 – 1st Street SE Calgary, Alberta, Canada T2G 2G9 T 403.221.7831 or toll-free: 1.888.222.5855 F 403.221.7828 E-mail [email protected]: www.calgaryeconomicdevelopment.com Twitter: @calgaryeconomic

For more information on life in Calgary:www.liveincalgary.com

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Energy - Calgary Economic Development · 1/1/2009 · Alberta is Energy 15. Alberta’s energy strength 16. Conventional energy 18. Conventional oil 19 Natural gas 19 Pipelines 19