Matt Loreman, COO of Development Capital Resources LLC (DCR), is today’s featured Forty Under 40 honoree.
Loreman co-founded DCR, an oil and gas platform partnered with funds managed by Ares Management Corp., in 2017 with his current business partner, Ronnie Scott. He had previously served as a managing director in Evercore’s oil and gas advisory group where he executed M&A, divestiture, capital raising and restructuring transactions in the upstream space.
Known as a deal maker, Loreman takes pride in executing complex transactions. One of his most challenging projects to date was an infrastructure deal with California Resources Corp. (CRC) in February 2018.
“CRC has been a fantastic partner to date, but they were a skilled and tough negotiator up until documents were signed,” he said.
Loreman leads a seven-person team in Houston that sources, negotiates and manages joint ventures with DCR’s operating partners. Since its formation, DCR has signed four joint ventures to deploy $1.3 billion out of DCR-managed entities.
The decision suspended certain parts of the law that strengthens state oil company Pemex, which Congress approved in April, the document showed.
The most active operator continues to be Permian Basin-focused Pioneer Natural Resources at 30 rigs, which includes nine more rigs after closing its acquisition of privately held DoublePoint Energy.
TGS, a global provider of energy data and intelligence, said on May 10 it has commenced acquisition on Santos multiclient 3D Phase 4 survey offshore Brazil.