Phil Cossich

CFO and Treasurer, LLOG Exploration Co. LLC, Covington, La.

To reach the position of CFO before the age of 40, Phil Cossich attributes his enthusiasm to being a team player. He credits his willingness to help the company in any way possible, even ways that seemed small at the time, with helping him achieve C-suite status so early in his career.

Why did you enter the oil and gas industry?

“Growing up in southeast Louisiana (Plaquemines Parish), it was hard not to have exposure to the industry. Every day on my drive to high school, I would drive by a refinery and multiple pump jacks. Whenever I would go fishing, we would always fish around oil and gas infrastructure. Also, both my grandfathers worked in the industry. From a career standpoint, I knew that it was a good industry.”

What is a career milestone you reached sooner than you had planned?

“One of my early career goals was to become a CFO, but I did not think I would have the opportunity to become LLOG’s CFO as soon as I did. I believe in putting myself in a position to become CFO through my daily mindset. I try to think about how I can bring value and win every day. I sought out ways to contribute to LLOG, no matter how small the task. I feel like there was a point in my career at LLOG where I became the LLOG ‘Google.’ LLOG is unique in that I was able to partner with and contribute to nearly all departments within LLOG, which gave me an understanding and appreciation of the business that I might not have received at a different company.”

Which of your professional achievements are you most proud of?

“Closing on the $1.375 billion sale to Murphy [Oil] in 2019.  This was the sale of assets from the LLOG and Blackstone partnership, which included the Delta House floating production system [FPS]. ArcLight provided the construction financing for the Delta FPS and laterals. It was a great experience to go through such a large transaction. However, the more meaningful part for me was to see the Blackstone partnership through, from concept to dissolution.”

How have you exercised leadership to help shape your company?

“I try to lead by example. I will never ask someone to do something that I am not willing to do, no matter how small the task. Also, when I present, I make sure I have all the information and understand my topic. I work to instill in my team the same mentality when they are working on their tasks.”

Who is your mentor?

“My wife; she did not give me advice, but she leads by example, and her drive inspires me. Even though my wife was a successful CPA, she changed careers to become a doctor. When I started at LLOG, she was starting medical school. I would come home from work late and she would still be studying, so I would get my computer out and join her.”

What keeps you motivated and passionate about the oil and gas industry?

“Even though the oil and gas industry has been around for a long time, there continues to be new opportunities to create value. It is exciting to be in an industry like this.”

What advice would you give other young professionals in the industry?

“I would encourage everyone to ‘raise your hand’ for as many tasks as you can, even if it is a small task. I think I was able to have as many opportunities as I have had at LLOG due to trying to do many tasks. I have built financial models, created presentations, made maps, printed books and changed out the paper in the printer. By doing these little things, it allowed me to get invited to more meetings, participate in more deals and before too long, you are part of the team.”

Three More Things

1. My wife was an accountant who made a career change and became a doctor.

2. I played football and baseball for Washington & Lee University.

3. I grew up in Belle Chasse, La.