Abstract: Ethylene is oligomerized to even numbered alpha-monoolefins principally in the C.sub.4 to C.sub.40 range with minimal concomittant production of high molecular weight polyethylene by reacting ethylene in a diol solvent in an oligomerization reaction zone at elevated pressure with a nickel complex catalyst composition produced by combining in the reaction zone, (a) a stable preformed complex of nickel, ethylene and hydride in a diol solvent, said complex being prepared by contacting in a diol solvent and in the presence of ethylene, a nickel salt, a base and a boron hydride transfer agent and (b) a suitable bidentate ligand; the stable nickel complex solution and the bidentate ligand being added in separate portions to the reaction zone. These stable complexes of nickel, ethylene and hydride in diol solution are considered to be novel oligomerization catalyst precursor compositions.