On February 13, 1947, Imperial Oil stuck oil at the Leduc Number 1 Discovery Well, located south of present-day Devon. Needing to find living quarters for the oil workers, Imperial Oil chose a picturesque spot on the North Saskatchewan River to build a new, well-planned town, and Devon was created. The name was chosen for the Devonian Reef formation in which the oil at Leduc #1 was discovered.