Norcen
The Norcen Tower in Calgary in 2013 | |
| TSX: NCN | |
| Industry | Petroleum |
| Founded | 28 October 1975 |
| Defunct | 17 April 1998 |
| Fate | Acquired by Union Pacific Resources |
| Headquarters | Norcen Tower, 715 5 Avenue SW, |
Norcen Energy Resources Limited was a Canadian petroleum company that existed from 1975 to 1998.
In December 1979, the Labrador Mining and Exploration Co. Ltd. of Toronto began purchasing shares of Norcen and acquired around nine percent of the company initially. Labrador was at the time 68 per cent owned by Hollinger Argus, which was controlled by Conrad Black. By February, Labrador had increased its stake in Norcen to around 40 per cent, and in April, Black was elected a director of Norcen.
In February 1986, Black sold Argus's 41 per cent stake in Norcen to Brascan.
In January 1998, Union Pacific Resources of Fort Worth, Texas agreed to acquire Norcen for $3.7 billion. On 2 March 1998, Union Pacific closed the deal and assume around 95 per cent of outstanding Norcen shares. That same day, Norcen's shares were delisted. Three days later, Union Pacific acquired the remaining Norcen shares. Following the acquisition, Union Pacific appointed John Vering president of its Canadian subsidiary, Union Pacific Resources, Inc. On 17 April 1998, Norcen was disincorporated.
In April 2000, Anadarko Petroleum acquired Union Pacific Resources for US$3.9 billion.