Jim is an exploration geologist who co-founded Canadian Hunter Exploration in 1973. As a Founder and former Chairman of Calgary Academy, Mr. Gray is also Honourary Chair of the Canada West Foundation and Honorary Life Director of the Calgary YMCA. He was awarded an Honourary Doctor of Laws degree in 1991 by the University of Calgary. In 2001, he received the Energy Person of the Year Award from the Energy Council of Canada.

Among his many awards, he has been inducted into the Alberta Order of Excellence, the Order of Canada, the Calgary Business Hall of Fame, and the Canadian Business Hall of Fame for his outstanding commitments to community and business in Alberta.