The discovery of the Leduc No. 1 oil well in 1946 and major reserves in the Turner Valley area southwest of the city ushered in a period of growth and prosperity. Calgary was transformed from an agricultural community into the oil and gas capital of Canada. The city's population nearly doubled between 1949 and 1956, and Calgary's immigrant population not only embraced the Stampede, but encouraged friends and family in their home towns to do the same. The 1950s represented the golden age of the Calgary Stampede.