Imperial Oil Oil discovered the Leduc Woodbend Devonian oil reef in 1947, marking the beginning of the contemporary period in Canadian oil and gas development. Drilling began on the landmark discovery well Leduc No. 1 on November 20, 1946. In 1989, Imperial Oil acquired Texaco's Canadian operations. From the 1934-35 season through the 1975-76 season, Imperial Oil was a sponsor of the Canadian Broadcasting Corp. program "Hockey Night in Canada" for both radio and television broadcasts. In February 2013, Richard Kruger, President of ExxonMobil Production Co. and a Vice President of Exxon Mobil Corp., was appointed to be Chief Executive of Imperial
Barrel (unit) US barrels for the benefit of American investors and oil marketers. They will generally quote prices in Canadian dollars per cubic metre to other Canadian companies, but use US dollars per barrel in financial reports and press statements, making it appear to the outside world that they operate in barrels. Companies on the European stock exchanges report the mass of oil in metric tonnes. Since different varieties of petroleum have different densities, however, there is not a single conversion between mass and volume. For example, one tonne of heavy distillates might occupy a volume of 256 US gallons (6.1 bbl).