One of the earliest oil wells in the central Alberta foothills was drilled near Coalspur. In 1924 Imperial Oil sank a test well near the community, and discovered a significant flow of natural gas that was used to heat boilers in the mining camp. No commercial quantity of petroleum was found however, and drilling ceased near Coalspur,Ralph L. Rutherford, Geology of the Foothills Belt between McLeod and Athabaska Rivers, (Edmonton: King's Printer, 1925), 60. although several natural gas fields were later discovered in the Coal Branch area.
