580.470.8433 Duncan, OKA Multi-Generation Oil & Gas Operator

About our company

Our Team of Qualified Individuals

Floyd Gray

Founder (1910-1995)

Floyd Gray was the man who built our base strong and true. He began his career in Oil and Gas Exploration in 1937. He worked in the oil industries throughout Oklahoma, Texas and Illinois working for Parker Drilling Company. Floyd’s first job was on the During #39 which came in at 1,200 barrels per day, which was a great start to a long career in the industry.

He finished off his career in the rich oil fields around the Velma, Oklahoma area. Floyd retired in 1955 to the family homestead in Stephens County, Oklahoma. His last days were spent as a rancher and farmer. He was stern, yet a peaceful man and a great mentor. He leaves his great legacy to be passed down to future generations of Grays.

Jimmy W. Gray

Senior Drilling Consultant

Jimmy W. Gray was born in Duncan, Oklahoma in the “Heart of Oil” Country. His is the third generation to live on the family’s homestead. When growing up, Jimmy literally had Halliburton Industries as a neighbor, which piqued his interest in the oil industry. Jimmy drilled and completed his first well at the age of twenty three. Jimmy began his mentorship in the oil and gas business by some of the pioneers in the petroleum industry. Since then, he has operated as many as two hundred wells at a time. He has gained an unsurpassed expertise with his hands on participation from owning and operating companies, to oil field drilling, exploration, trucking, banking and aviation. In the early eighties, his sales reached over twenty million dollars annually with production in excess of two thousand barrels of oil and thirteen million cubic feet of natural gas per day. In 1983 Jimmy sold his companies to Energy Exchange of Tulsa, Oklahoma and retired.
Jimmy’s concerns about America’s domestic production and his firm conviction that the United States needs to lessen its dependence on foreign oil, motivated and inspired him to come out of retirement and found Jasmine Inc. Since then, Jasmine has drilled twenty producing wells and currently operates over fifty wells. With a success rate unheard of in the petroleum industry, Jasmine Inc. has expanded into Gates Oil & Gas, LTD and continues to explore and develop new sources of oil and gas.
Jimmy is intimately woven into the fabric of the community and has earned tremendous loyalty and respect from key players in the petroleum industry. He is helping to build a stronger America through sharing his knowledge and expertise in the oil and gas industry by training his family to continue in the challenge of helping America meet her energy needs.

Michael K. Gray


Michael K. Gray, was born in Duncan, Oklahoma during the oil boom of 1964. Throughout his high school years, he worked as a roustabout, pumper and roughneck. Michael, at a young age, held leases and working interests in several of his father’s wells. After attending the University of Oklahoma, he worked on over 80 drilling sites, as well as post completion of over 67 producing wells. Mike has worked along with his father Jimmy and his companies for the last 23 years as field supervisor. He has gained most his knowledge though hard work and dedication. Michael has special skills in bond logs and correlate logs for precise perforations. Mike has expert knowledge of squeeze work, polymer injection, acid and sand fracking. He has gained the experience in all aspects of oil and gas exploration in the Viola, Deese, Bromides and the Oil Creek Sands of Oklahoma. With his vast knowledge, skills and expertise, Mike brings the success of his accomplishments to Gates Oil & Gas, LTD.

Lance Bowman


Lance Bowman has over 26 years of experience in the financial services and banking industry with 10 years being an Executive Manager. Bowman’s banking experience covered all aspects of financial institution management, ranging from Asset / Liability Management to Chief Lending Officer. Bowman’s experience also includes oil & gas industry financing activities and oil & gas industry account management services.

Bowman has a Bachelor of Science in Accounting and a degree from The Graduate School of Banking at Colorado.

Kim Davis

Human Resources/Investor Relations

Kim has over 15 years of financial and administrative management experience. Kim manages the day-to-day operation of the human resources and is responsible for new employee orientations, training, regulatory reporting and employee benefits administration.  

Kim demonstrates outstanding people, computing and troubleshooting skills applicable and essential to our business and also beneficial to our investors.

Kim has earned the trust and respect of our investors through her patience and diligence in successfully addressing customer needs.

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