Formed in 1995 as an independent exploration and production company, John Henry Petroleum was created by two former oil and gas executives who wanted to see their industry move forward much faster. They did so from a belief that technology was the key to greater profitability. To do that, they felt that they had to learn how to apply and find better uses for 3D seismic imaging and new deviated and horizontal drilling technologies to make production of oil and gas more efficient and more profitable.
Placing innovation and discovery at top of the agenda when it came to the John Henry Petroleum business strategy, the company was uniquely prepared to undertake and overcome risks and increase their possible reward. Using the best technologies and systems available to maximize oil and gas production actually maximizes short-term profits, but it also makes the company’s technology far more valuable.
By examining and implementing the best technologies available to the search for oil and gas, they have become leaders in the oil and gas industry while they have also been able to stimulate further innovation. That has allowed them to generate strong and steady growth in both net production volumes and in net proved reserves by both increasing production and keeping all of their costs under control.
John Henry Petroleum has always had an entrepreneurial spirit. In its past, much of the company’s focus was on exploration, so they now have a large inventory of proven oil and gas production trends, which has given them the ability to leverage that inventory to make them a very successful oil production company going forward.