It's a made for TV special (starring Pierce Brosnan) about a wanna-be oil tycoon at the turn of the last century, hence the 'modern' arms.
The 'sperts are already picking it apart for it's historical inaccuracies like the mention of natural gas reserves at a time when that wasn't even being thought of.
As a kid growing up in the oil patch country of southern Alberta, I remember the eerie glow of the "flaring off", tens of millions of cubic feet of natural gas that was burned off because there was no market for it at the time. It also got rid of a lot of the odour associated with the drill rigs.
I don't know if that was done with the deadly "sour gas" (hydrogen sulphide?) as well.