Industry | Petroleum |
---|---|
Founded | 10 July 1925 |
Founder | James R. Lowery |
Defunct | 30 September 2002 |
Fate | Acquired by Anderson Exploration |
Headquarters | Home Oil Tower, 324 8 Ave SW, Calgary, Alberta |
Home Oil Company Limited was a Canadian independent petroleum company that existed from 1925 and 1995. Home was founded to produce oil in the Turner Valley field, and by the end of World War II was the country's largest independent producer. [1] Between 1952 and 1972, Home was controlled by Robert A. Brown Jr., who pursued an aggressive and high-risk strategy. From 1979 and 1991 Home Oil operated as a wholly-owned subsidiary, first of the Consumers' Gas Company, then of Hiram Walker, and lastly of the Interprovincial Pipe Line Company. On 1 May 1991, Home Oil regained its independent status, which it retained for the duration of its existence. In 1995, Anderson Exploration acquired Home for C$879 million. [2] After Devon Energy acquired Anderson in 2001, Home was finally struck off in September 2002.
Home was founded in 1925 by James R. Lowery and was backed by a group of establishment businessmen from Vancouver. [3] By 1952, Robert A. Brown, Jr had acquired control of home. [4] He ran the company until 1971, when personal debt forced him to sell his stake. At that time the company was purchased by the Consumers' Gas Company Limited, based in Toronto. [5] In 1980 Consumers' was acquired by Hiram Walker, which ran Home until 1986. [6]
William C. Shelly, 1925–1931
Lt-Col Nelson C. Spencer, 1931–1939
Robert Ker, 1939–1944
Maj James R. Lowery, 1944–1951
Robert B. Curran, 1951–1952
John W. Moyer, 1952–1955
Robert A. Brown Jr, 1955–1972
Ross F. Phillips, 1973–1979
Alexander M. McIntosh, 1979–1981
Richard F. Haskayne, 1981–1991
David E. Powell, 1991–1995
Maj-Gen John W. Stewart, 1925–1938
Lt-Col Nelson C. Spencer, 1939–1951
Maj James R. Lowery, 1951–1953
Robert A. Brown Jr, 1953–1955
John W. Moyer, 1955–1968
Oakah L. Jones, 1971–1973
Anthony G. S. Griffin, 1973–1979
Ross F. Phillips, 1979
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Robert Arthur Brown Jr. was a Canadian oilman who was active from the late 1930s to the early 1970s. In June 1936, his father discovered oil in Turner Valley and ushered in a new era in Alberta's petroleum industry. After the discovery, Brown worked alongside his father until the latter's death in 1948. In 1950, he acquired control of the Home Oil Company and in 1955 became the company's president. Through the 1950s and 1960s, Brown turned Home into one of Canada's most successful exploration and production companies. In 1969, Brown attempted to acquire control of Atlantic Richfield, and in the process amassed a personal debt of $26 million. The debt forced him to sell his share of Home, which prompted the intervention of the federal government prevent a foreign takeover. After he found a buyer in the Consumers' Gas Company, Brown stayed on as president of Home, but died shortly thereafter at age 57.