Derek Detring founded his firm to focus on the mid-cap A&D market, where Detring Energy provides advisory services to clients with assets too large or technically complex for auction sites but not large enough to attract attention from larger banks. The company’s typical deal size falls between $25 million and $150 million.
The company was established in September 2014, two months before the collapse in commodity pricing and the A&D market. The “timing could hardly have been worse” and the experience of starting during a down market is what Detring considers his biggest career challenge yet. Looking back, however, it taught the young company how “to work hard as a team and also how to find creative ways to assist clients in a rapidly evolving environment.”
Now, “these experiences have positioned us well for growth as the A&D market continues its recovery.”
Indeed, the A&D market is hungry. Detring said both public E&P and private-equity deals will continue, and newly solvent MLPs will continue selling as they complete their transformations post-restructuring.
On leadership: “I never want to ask anyone at the company to do something that I don’t know how to do myself!”
Career path: He began his career in 2005 as an investment banking analyst/associate at Merrill Lynch, where he spent two years in Houston, one year in Sydney and one year in Perth, Australia. From 2009 to 2013, he formed his first mid-cap A&D boutique, Integral Advisors Corp., followed by one year as a vice president within Wells Fargo’s A&D group, before founding Detring Energy Advisors in 2014.