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Dome Petroleum Limited was a Canadian independent petroleum company that existed between 1950 and 1988. The company was founded as a subsidiary of Dome Mines and was built by Jack Gallagher, who remained with the company until 1983. In 1988 Dome Petroleum was purchased by
Amoco
Amoco ( ) is a brand of filling station, fuel stations operating in the United States and owned by British conglomerate BP since 1998. The Amoco Corporation was an American chemical and petroleum, oil company, founded by Standard Oil Company i ...
.
History
Jack Gallagher joined a group of investors in Dome Exploration (Western) Ltd. in 1950 and built it into the major Canadian oil company Dome Petroleum Limited (to which it was renamed in 1958). Gallagher was the sole employee for the first two years. However, James McCrea, who was instrumental in building Dome Mines into one of the giants of the Canadian mining industry, is credited with originally creating Dome Exploration (Western) Ltd. Charles Dunkley was Dome's third employee and became Dome's Senior Vice President and Gallagher's management partner. "Charlie" had a reserved management style and the pair worked well together, especially in the early days when they ran a tight management ship. Dome's 20%tender offer
In corporate finance, a tender offer is a type of public takeover bid. The tender offer is a public, open offer or invitation (usually announced in a newspaper advertisement) by a prospective acquirer to all stockholders of a publicly traded corp ...
for Conoco
Conoco ( ), formerly known as Continental Oil, is an American Petroleum industry, petroleum brand that is operating under the current ownership of the Phillips 66 Company since 2012 and is headquartered in the Westchase, Houston, Westchase neigh ...
unintentionally began a takeover battle among several larger companies. Dome grew by making acquisitions in the energy industry, notably the 1981 acquisition of a 52.9% interest of Hudson's Bay Oil and Gas Company (HBOGC) through its wholly owned subsidiary, Dome Energy Limited. Dome was active mainly in Western Canada, the Beaufort Sea, and the Arctic islands. The company developed serious problems as a result of the 1986 drop in world oil prices and substantial debts from past takeovers. In November 1987, after months of negotiation, an agreement in principle was reached that led to Amoco
Amoco ( ) is a brand of filling station, fuel stations operating in the United States and owned by British conglomerate BP since 1998. The Amoco Corporation was an American chemical and petroleum, oil company, founded by Standard Oil Company i ...
Canada Petroleum Co Ltd buying Dome for $5.5 billion. This purchase was completed on 1 September 1988.
Leadership
President
# John Edward Patrick Gallagher, 1950–1974 # William Edmund Richards, 1974–1983 # John Macdonald Beddome, 1983–1988Chairman of the Board
# Clifford William Michel, 1950–1974 # John Edward Patrick Gallagher, 1974–1983 # John Howard Macdonald, 1983–1988References
{{reflist *''Prisoners of Debt: Inside the Global Banking Crisis''. Directed by Robert Collison and Peter Raymont. National Film Board, 1983. *Foster, Peter. ''Other People's Money: The Banks, the Government and Dome''. Don Mills: HarperCollins, 1983. *Lyon, Jim. ''Dome: The Rise and Fall of the House that Jack Built''. Toronto: MacMillan, 1983. Amoco Companies based in Calgary Companies disestablished in 1988 Non-renewable resource companies established in 1950 Defunct oil and gas companies of Canada History of Alberta History of Calgary 1950 establishments in Alberta 1988 mergers and acquisitions 1988 disestablishments in Alberta Companies formerly listed on the Toronto Stock Exchange