SWIFTY OIL history

In 1972 its gas assets were acquired by Northwestern Utilities and its electrical generation and distributing assets by Alberta Power Company.

There seems to be a discrepancy in the various reference sources as the Companies list says the status of the firm changed in 1975 (that is, it changed its name or was bought out) but offers no indication of what that change was.

1976 Emro Marketing was incorporated by Marathon Oil to oversee company-operated service stations.

The second was incorporated in 1942 and in 1953 changed its name to Midcon Oil and Gas Ltd. It seems to have been wound up in 1977 but an inquiry with Alberta Registries might provide further information.

But after 17 years of working for others, Swift, at the age of 45, decided he wanted to start his own oil business and in 1979 he tendered his resignation and formed Swift Energy.

The first property was bought in 1984, a year in which the company was successful in raising approximately $4.5 million.

It changed its name to Canadian Westgrowth Ltd. in October 1986. (Thanks to Doug Sweeting, CFP, of Langley, BC, for this information.)

In 1986, many in the industry predicted that oil prices, which were in the $10 to $12 a barrel range, would dip even further, to as low as $5 a barrel, making the acquisition of oil and gas reserves a foolhardy act.

In 1986 the company picked up $35 million in new investments.

Sulpetro's assets were bought by Esso Resources Canada Limited in 1988.

The latter firm sold all of its assets to Esso Resources Canada in 1988. (The Glenbow Archives in Calgary holds some of the operating records of West Canadian Oil as part of the West Canadian Collieries Ltd. papers.)

In 1988, on behalf of its limited partners, Swift Energy spent $55.9 million on oil and gas interests.

1990 The corporate headquarters for Marathon Oil Company moved to Houston, Texas.

1991 Emro moved into new corporate headquarters in Enon, Ohio.

In 1992, British Petroleum sold off its 57% stake in BP Canada Ltd to the public, and BP Canada demerged into Talisman Energy Inc.

Swift, however, enjoyed much better success with its investment in New Zealand, where it established a presence in 1995 by obtaining the first of two petroleum exploration permits for the country's North Island.

In 1995 the company was able to raise $46.2 million with the issuance of 5.8 million new shares of common stock, 70 percent of the money promised to be spent on the development of reserves in the Giddings Fields and the AWP Field in Texas.

In 1996 they incorporated in Ontario.

He was inducted into the Canadian Petroleum Hall of Fame in 1997.

The Financial Post Survey of Predecessor and Defunct Companies for 1997 indicates that Richland Oils Ltd. was wound up and does not seem to have been taken over by another company.

In 1997 it was acquired by Ultramar Diamond Shamrock.

At the close of 1997, after spending $10 million on the project, Swift terminated its agreement with Senega.

In 1997 Terry Swift replaced his father as president of the company, part of a succession program that would soon make him chief executive officer; his father remained chairman of the board.

1997 Emro was first recognized as Convenience Store Chain of the Year.

Swift further demonstrated its belief in its Austin Chalk interests in 1998 by paying $87 million in cash for Sonat Exploration Company, which brought with it 156 wells, interests in two gas plants, and 355,000 acres in the region.

1998 Marathon Oil and Ashland Inc. formed a joint venture named Marathon Ashland Petroleum LLC, which added refineries in Catlettsburg (Kentucky), Canton (Ohio) and St Paul Park (Minnesota) as well as a private inland barge fleet.

Then Midland Holland became inactive and was discontinued (from the federal corporate register) on 2000-01-24.

Further tests followed in 2000, during which Swift announced that it believed that it had discovered a new oilfield, one that could contain 500 million barrels.

Then Star was acquired by ARC Energy Trust in 2003.

Following two years of declining numbers, Swift rebounded in 2003 with revenues of $211 million.

2004 Ashland Inc. transferred its interest in Marathon Ashland Petroleum to Marathon Oil.

2013 MPC purchased the Galveston Bay refinery in Texas City, Texas.

2015 MPLX acquired MarkWest Energy Partners L.P., further growing MPLX’s midstream business.