The Termo Company3275 Cherry Avenue , Long Beach, California, United States

At The Termo Company, we rely on our eight decades of experience to explore for profitable oil and gas investment opportunities, to make decisions that will benefit our shareholders and partners alike, and that reflect our commitment to integrity, operational excellence, and fiscal responsibility.  We celebrate decades of success through strong relationships with our family of partners, investors, and employees. We focus our experience, expertise and the latest technology on discovering and evaluating opportunities, leading safe effective operations, and reducing our environmental footprint.

Mission

Our mission is to provide crude oil and natural gas essential to the public and our economy through exploration and development using practices that provide sustainable business growth and enhance shareholder value.

Vision

Our vision is to be a prominent independent oil and gas company in the western United States through exploration, property acquisition and optimization. By developing and nurturing a long-term strategic vision that drives company growth and profitability, we aspire to sustain value and create strong financial returns for our shareholders, employees, and partners. By continually innovating and improving our operational and organizational performance, we aim to meet or exceed the success of our peers.

At the core of our values are:

• Relationships. We value open and honest communication both internally, with shareholders and employees, and externally, with partners, vendors, and operations communities. We desire to be transparent and respectful in every situation. We will reward our shareholders, employees, and partners for their trust and commitment. We also provide for long-term company growth by building a strong team of qualified people matched with positions that utilize their strengths and advanced technology that maximizes their effectiveness.
• Experience. We are a strong company because of our collective knowledge of the industry. Experience gives us a foundation for discernment and the ability to carefully select projects and opportunities. We believe the input and actions of our employees are vital to optimizing operations and capitalizing on opportunities. We use our combined insights and perspectives to achieve excellence in operations.
• Integrity. Our team members will always do the right thing with respect to safety, business, and protection of the environment. Our strong fiscal discipline and accountability ensure we are operating with the highest standards and remaining prudent in our risk-taking. We work to minimize and negate our environmental impact through proper planning and operational diligence.
• Growth. We encourage an environment of innovation and organizational learning for the continued development of the company and our employees. We believe the need for innovation in our industry goes beyond technology to information management, communication, business practices, and how we build relationships.

Beginning

In 1859, Edwin Drake drilled the first successful oil well in the United States in Titusville, PA and America would never be the same again. The industry grew quickly, and among the companies born was Standard OIl, formed by JD Rockefeller in 1870, which became the worlds largest oil refinery. Eventually oil drilling spread to the west coast, and in 1893 the Los Angeles City Oil Field was developed.  Once the combustion engine was developed in the late 1800s and the automobile industry emerged, the use for oil grew exponentially. In 1907, Royal Dutch Shell was formed through a merger to compete globally with Standard Oil. The following year, the Anglo-Persian Oil Company, which would later become BP, was formed in the middle east after a large reserve was discovered in Persia (now Iran). In 1909, C.J. Berry, a successful gold miner, purchased land in Taft, CA and formed Berry Holding Company, which later became Berry Petroleum. In 1911, Standard Oil was determined by the US Supreme Court to be a monopoly in the refining industry under the Sherman Act and broken up in 34 independent companies.

We Work With People We Trust

We credit our success for the last 80 years to strong relationships, and many of those are with our partners. Our core values center around integrity, respect, transparency, and good communication, and weve learned to look for those aspects of character in our partners. We also consider experience, responsibility, and good reputation to be essential. We thoughtfully consider each potential partnership because our relationships go far beyond the balance sheet. We work to offer our partners mutually beneficial opportunities and ultimately build trust and shared loyalty. The result is a family of long-lasting partnerships in which both sides are highly regarded.

Exploration

Our exploration strategy focuses on organic growth through the drill bit. We continue to focus our efforts on discovering and developing reserves close to our current operating areas, especially those amenable to 3-D seismic imaging. Through better analysis, we are able to lower our dry hole rate and increase the likelihood of success. Our goal is to build a multi-year inventory of drillable projects, helping to ensure a steady stream of activity and growth.

Operation Areas

Termos principal oil and gas assets are its operated properties. The operated properties make up more than 50% of the proved developed reserve value and most of the proved undeveloped and probable reserve value. The non-operated properties largest value is in producing royalty packages that have continued to be attractive sources of cash flow over the years. In addition, Termos non-operated working interest in the Bakken has been a significant area of reserve growth and we continue to participate with premier operators in this and other exciting shale plays around the United States.