James A. Doris once had a vision to create an energy company that could withstand the volatility of market cycles, while also positioning itself to generate growth through security and business acumen.
He got it right.
Doris is the President and CEO of Viking Energy Group, Inc., a company that has focused its efforts on long-term strategic goals that centre on acquiring interests in opportunities with realistic growth potential despite the fickle nature of commodity prices and the demands of the consumer.
Viking Energy has grown from humble beginnings. In 2014 revenue was nil and there was fear that oil and gas was an industry with no security. But Doris saw potential, where other business executives would see peril, and since Doris’ involvement the company has managed to close several acquisition and financing transactions to boost revenues and strengthen its platform to facilitate future growth.
Indeed. In 2020 Viking posted a revenue increase of more than $40 million. And while the COVID-19 pandemic saw business professionals and investors racing to shield themselves from pitfalls, Doris once again focused on potential. The oil price collapse wrought by the pandemic, and the inevitable tropical and winter storms which resulted in decreased production thanks to wells being shut-in meant that diversification became key.
Doris pivoted, and in the summer of 2021 Viking Energy moved forward with its diversification strategy by purchasing a 60.5% interest in Simson-Maxwell Ltd. and securing an IP License Agreement with ESG Clean Energy (exclusive throughout all of Canada (unlimited number of locations) and up to 25 locations across the United States. Simson-Maxwell is a leading manufacturer and supplier of industrial engines, power generation products, services and custom energy solutions. The company integrates innovative technology with superior products to contribute to global energy sustainability.
Regarding Viking Energy’s exclusive intellectual property license agreement with ESG Clean Energy, LLC, the target was ESG’s patent rights and expertise as they relate to stationary electric power generation. Methods have been designed to utilize heat and capture carbon dioxide to generate clean electricity from internal combustion engines, while taking advantage of waste heat to capture 100 per cent of the carbon dioxide (CO2) emitted from the engine without loss of efficiency. This facilitates the production of sellable precious commodities including distilled/de-ionized water; UREA (NH4); ammonia (NH3); ethanol; and methanol.
“Our recent transactions have genuinely elevated our organization, not only in terms of expanding our service offering but more importantly as it relates to adding so many talented and accomplished professionals to our team,” said Doris. “We are well positioned for expansion across all divisions, namely power generation, clean energy and resources.”
Doris has been an officer and director of Viking Energy since 2014 and has been an integral part of transitioning the company’s focus to energy-related investments and initiatives. He has more than 25 years of experience negotiating national and international business transactions, including mergers, acquisitions, joint ventures, and distribution arrangements across a variety of industry sectors.
Formerly a lawyer in Canada, Doris represented domestic and foreign clients regarding their investment activities in Canada. Prior to starting his own law firm, Doris served as Executive Vice-President and In-House Counsel for a real estate investment and development company in Toronto, Canada, as well as working at one of Canada’s leading business law firms. Doris graduated cum laude from the University of Ottawa in 2001.
Viking Energy Group, Inc trades on the OTCQB stock exchange under the ticker symbol VKIN.