Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Home Oil Company Limited - Lehman Brothers Collection

Home Oil Company Limited

List of Deals

Home Oil Company was engaged in exploration and production of petroleum and natural gas properties located in Saskatchewan, Ontario, and Alaska.

Home Oil Company was incorporated in Canada under the Dominion Companies Act on September 19, 1929, to acquire the assets and business of a company with the same name.

On December 13, 1955, Home Oil acquired the assets of Federated Petroleums, Ltd., by an exchange of stock. The following year it acquired 325,000 shares of Trans-Canada Pipe Lines Ltd.

It acquired 95 percent of United Oils Ltd. at seventy-five cents per share in 1964, and in March 1968 it bought all of the shares of Union Petroleum Corporation of Tulsa, Oklahoma, wholesale marketers of natural gas liquid products.

Gas supply agreements were signed by Home Oil of Canada, Ltd., and British Petroleum Company, Ltd., in October 1969, providing each with a 50 percent interest in the Lockton field in Yorkshire. The expectation was that this new source would provide an average daily flow of approximately 75 million cubic feet of gas with deliveries starting in October 1970.

Home Oil earned $4.6 million in Canadian dollars from revenues of $23.5 million in 1969. The previous year, these figures were $10.8 million and $21.7 million, respectively.

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