JOHNNIE K. PENTON is a Managing Partner of Canaan Resource Partners and is a general partner of Canaan Resource Partners Drilling Fund LP, where he is actively involved in all aspects of fund management. Additionally, he is a general partner of Canaan’s Fund IX and Fund X, and serves as CEO of each fund’s respective operating company.
Mr. Penton’s investment management expertise has evolved over a 35 year energy career, and is complemented by a contact resource base that covers a wide variety of energy companies, brokers and financial institutions. In 1987, along with Leo E. Woodard, he co-founded Coral Reserves Group, Ltd., which would become the first of a series of investment entities leading to the ultimate formation of Canaan Resource Partners. After the consolidation in 2000 of eight limited partnerships operating under the Coral Reserves name, Mr. Penton served as President of the resultant entity, Canaan Energy Corporation (Nasdaq:KNAN).
Mr. Penton earned a B.S. degree in economics from Oklahoma City University in 1978 and an MBA from the University of Central Oklahoma in 1980. He began his career with Hunt Energy Corporation in 1980, serving as a petroleum landman in the Oklahoma City office. In 1984, he formed Newport Resources, Inc., an energy investment company he owned and actively managed until his co-founding of Coral Reserves Group, Ltd. in 1987.