John T. Rynd became the CEO at Hercules Offshore Inc. in 2008, just months prior to the collapse of the global economy. Becoming a new CEO at a time when commodity prices plummeted and Gulf of Mexico drilling tumbled to unforeseen lows made the transition to CEO a difficult task but one that Rynd, who also serves as president, was ready to tackle.
Rynd helped the company remain the market leader in the Gulf of Mexico by maintaining a presence throughout the downturn and developing unique ways to generate business. For example, throughout the past year, Rynd has helped Hercules Offshore enter into a number of creative agreements to manage other companies’ assets. The agreements provide a means by which Hercules can continue to expand its asset base, leverage its geographic footprint and expand upon its reputation for operational excellence but do it without expending any capital.
Rynd has also overseen major advances in oil and gas drilling. The art of drilling offshore oil and gas wells has not changed significantly over the years, but Hercules has been working on developing advanced subsurface technology to allow the company to drill wells with submersible gear, representing a huge breakthrough in offshore drilling technology.
For the future, Rynd has indicated that the company plans to take the necessary risks to expand its market share and global footprint by acquiring other companies or company assets. However, since debt is not easy to acquire and is nearly cost prohibitive at this point, Hercules’ leaders will closely evaluate all acquisitions to ensure they are value-added and will significantly contribute to the vision of Rynd and his leadership team.
Rynd’s personal motto is, “Let’s control what we can control.” By focusing on things that the company can control, Rynd has reduced the company’s cost structure and improved it operationally.
How to reach: Hercules Offshore Inc., (713) 350-5100 or www.herculesoffshore.com