Bill Siebens
Bill Siebens | |
|---|---|
| Born | William Walter Siebens 17 November 1933 St. Louis, Missouri, U.S. |
| Died | 29 June 2020 (aged 86) |
| Occupation(s) | Entrepreneur, oil industry executive |
| Known for | Founder and president of Siebens Oil and Gas Limited |
William Walter "Bill" Siebens (November 17, 1933 – June 29, 2020) was an American-Canadian entrepreneur in the oil sector, recognized primarily as the founder and president of Siebens Oil and Gas Limited, which operated between 1965 and its acquisition in 1978.
Biography
Originally from St. Louis, Missouri, Siebens earned a degree in petroleum engineering from the University of Oklahoma in 1955. He then spent three years serving as a pilot in the United States Air Force, including a deployment in Libya. Subsequently, he relocated to Calgary, Alberta to oversee Siebens Leaseholds Limited, a company owned by his father. In February 1965, he divested the controlling stake in that business and established Siebens Oil and Gas Limited.
Siebens Oil and Gas gained prominence by purchasing highly productive freehold properties that were previously owned by the Hudson's Bay Company. In 1977, the firm was sold for $360 million in what was hailed as a "financial masterpiece." The acquisition was made by Canadian National Railways’ pension fund through its subsidiary Canpar Oil and Gas Limited at $38.50 per share. Canpar subsequently transferred 76% of these assets to Dome Petroleum, leveraging tax advantages due to its pension fund affiliation. At the time of the transaction, the Siebens family retained a 46% ownership interest; Bill Siebens personally received $40 million from the deal.
After this sale, Siebens took on the role of president at Candor Investments Ltd., a private energy investment company, and served as chairman of Sovereign Oil and Gas, a North Sea production company that was eventually acquired by Neste Oil. In 1994, he assumed the position of chairman at ResoQuest Resources Ltd., which was sold to Pinnacle Resources Ltd. two years later; he remained chairman until Pinnacle was acquired by Renaissance Energy Ltd. in 1998.
Siebens married Clarice Adrienne Evans in 1961; they had three children before their marriage ended in divorce. He later wed Sharon. Bill Siebens passed away on June 29, 2020, at the age of 86.