The Scotiabank Saddledome in downtown Calgary. The province has recorded its first budget surplus in seven years. Article content Alberta recorded its first fiscal surplus in seven years after oil and gas prices surged in the first months of the year. Article content The province completed its fiscal year on March 31 with a surplus of $3.9 billion after West Texas Intermediate crude traded at an average price of US$77 a barrel, US$31 more than budgeted, according to documents released Monday. Non-renewable resource revenue, including oil and gas royalties, totaled $16.2 billion, or $13.3 billion more than budgeted. Alberta’s energy-based economy — its oilsands hold the world’s third-largest oil reserves — has emerged from the pandemic with the most robust economic growth in years thanks to the windfall of royalty and tax revenue. Oil prices surged above US$100 a barrel during the last month of the fiscal year, after the Russian invasion of Ukraine prompted countries to shun Russian oil. In March, the government presented a budget for the 2022-2023 year that included the first surplus since 2014.