Matt McCarroll; founder, president and CEO; Dynamic Offshore Resources Featured

8:00pm EDT June 30, 2012
Matt McCarroll; founder, president and CEO; Dynamic Offshore Resources

Exploration & Production, Finalist

While most entrepreneurs can attest that starting any business is an accomplishment in itself, the formation of a successful Gulf of Mexico oil and gas company in early 2008 required managing a unique set of challenges. Dynamic Offshore Resources LLC was born out of the vision of Matt McCarroll, founder, president and CEO.

As others in the industry continued to exit the shallow water Gulf of Mexico, an opportunity existed to assemble an experienced, well-capitalized team to acquire and develop these producing properties on terms unattainable nearly anywhere else in the world. From inception in 2008 through the company’s sale in early 2012, McCarroll remained adamantly committed to his initial thesis that great opportunities existed in the Gulf of Mexico.

Critical to his vision was the disciplined execution of his acquisition strategy, whereby the company would selectively purchase underworked producing assets from motivated sellers based on conservative valuations of proved reserves. Adhering to this strategy, Dynamic successfully grew its production and reserves nearly 100 percent annually while maintaining a very healthy financial position.

Generally viewed by the industry as a higher risk environment and an out-of-favor basin, McCarroll believed the key to success in the Gulf of Mexico was disciplined execution of his strategy and the elimination of as many risks as possible. Through a comprehensive risk management and insurance program, aggressive hedging, low leverage, and a preference for lower-risk operational activities, he ensured the business was exposed to as little chance as possible from outside forces.

As a result of this approach, McCarroll capitalized. While low price environments, hurricanes and periods of financial turmoil encouraged and, in some cases, required other operators to sell assets, McCarroll had positioned Dynamic to benefit from these circumstances.

How to reach: Dynamic Offshore Resources LLC, www.dynamicosr.com