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For 20 years,
Opportune has been a mainstay in the energy industry, providing specialized financial, operational, and strategic consulting services. "Our unwavering commitment to client success," begins Chairman & Managing Partner David Baggett, "has empowered us to navigate complex challenges, drive innovation, and deliver measurable results."
Opportune LLP’s journey began on June 8, 2005. On that day, the partnership formation papers were filed, and Baggett, alongside co-founder and wife Denise Baggett, received a lead for their very first client, RGGS Land & Minerals. "I remember walking into that meeting with no business cards, looking at the glossy brochures on the table from the firms that preceded me," he recalls with a smile. "After about 30 minutes, the principals left the room, returning shortly to tell me they canceled the upcoming interview with one last firm so that we could start immediately." It was from these modest yet promising beginnings that Opportune embarked on its mission to bring value to energy clients.
Early on, the guiding principle for the firm was established. A partner initially proposed a comprehensive mission statement, but Baggett recalls that while the draft captured the essential ideas, they opted to distill it significantly down to just four words: "'Add value to clients.'" This laser focus on the client remains the firm's highest priority. Baggett emphasizes that staff training deviates from conventional professional development; "It's not centered on typical selling, communication, or time management techniques," he explains, "but exclusively on how we can bring real, tangible value to those we serve." Continuing a practice he observed during his time at Deloitte & Touche, Baggett still begins every annual meeting by reviewing the firm's mission statement and core values. "I see this as the fundamental, unwavering foundation of the firm.”
A Narrative of Expansion
Over the past two decades, Opportune has strategically diversified its service offerings, always rooted in its deep understanding of the energy sector while increasingly applying its expertise to other industries. David Baggett notes, "Around 2007, we were experiencing strong performance and organic expansion, primarily centered on financial due diligence on mergers and acquisitions. However, understanding the cyclical nature of energy commodity markets, we recognized the importance of diversifying our services."
This foresight initiated a series of tactical expansions in Opportune's first decade, establishing crucial service lines like Complex Financial Reporting (2006), Process & Technology (2007), Business Process Outsourcing through the PetroAcct acquisition (2009), and dedicated Tax Advisory and Valuation services (2009). The firm also expanded geographically with the Denver office (2009) and Tulsa offices (2012), launched its Restructuring practice (2012), and significantly bolstered its technical capabilities in 2014 by acquiring Ralph E. Davis, a multi-generational Reserve Engineering & Geosciences firm. These early years laid the essential groundwork for the comprehensive suite of energy consulting services Opportune offers today.
The firm celebrated its 10th anniversary in 2015 at the House of Blues in Houston. This period was marked by key initiatives to expand talent, geographic reach, and service capabilities to meet the market's evolving needs. "The drive for growth didn't slow," Baggett says. "We hired our first class of college graduates in 2017 alongside the opening of our Dallas office. A year later, in 2018, we unveiled a refreshed brand identity with a new logo, a visual symbol of our dynamic and forward-thinking approach in the evolving energy landscape."
When global challenges emerged in 2020 with the onset of COVID-19, Opportune's deep expertise in restructuring proved critical. "We successfully guided clients through immense market volatility," Baggett recalls, "restructuring an astounding $100 billion in debt and reinforcing our strength in crisis management." Further broadening its comprehensive financial and transactional service offerings, Opportune launched Opportune Partners LLC in 2022. "This dedicated Investment Banking group," he notes, "expanded our firm's capabilities in transactional markets, significantly enhancing the value we deliver to clients."
Over two decades, this growth and diversification journey has culminated in a powerful, integrated suite of professional services focused on Consulting, Investment Banking and Outsourcing. Key service lines now include Business Transformation, Complex Financial Reporting, Disputes & Litigations, Investment Banking, Outsourcing, Process & Technology, Reserve Engineering & Geosciences, Restructuring, Sustainability, Tax Advisory, Transactional Advisory Services, and Valuation.
With such a comprehensive breadth of capabilities, Baggett emphasizes that the firm’s approach to client engagement is crucial for ensuring clients benefit from the full spectrum of Opportune’s expertise. "When we first meet with clients and prospects, it's typically our industry leaders connecting directly with their executives," he explains. "We don't go into these conversations to discuss a specific service line. Our primary aim is to truly understand the company's unique challenges and match those with the full range of capabilities we can bring to bear." He adds, "Even today, ensuring our clients and contacts are fully aware of our continuously expanding service offerings is a constant challenge." This client-centric discovery process becomes even more vital as Opportune applies these established capabilities to an ever-widening range of industries, a testament to the firm's ongoing evolution in energy markets.
An Evolving Focus: Deep Energy Roots, Broadening Industry Reach
While Opportune's DNA was forged in the demanding crucible of the energy sector, its reach and impact have impressively broadened over two decades. David Baggett emphasizes this evolution: "Energy is, and always will be, our bread and butter. It’s where we honed our skills, built our reputation for tackling incredibly complex challenges, and developed a deep understanding of what it takes to deliver tangible value. However, we found that the core principles that made us successful in energy, our commitment to specialized expertise, rigorous analysis, and client-centric solutions, are highly transferable and increasingly sought after."
He explains, "The landscape has changed. While our foundation was built on serving energy clients, the challenges faced by other capital-intensive industries, or those undergoing significant transformation, often mirror what we’ve navigated in energy for years. So, our expansion wasn't about becoming generalists. Quite the opposite. It was about applying our specialized, deep-dive approach to new arenas."
"This diversification of expertise and industry reach isn't solely a Houston phenomenon," Baggett points out. "Our offices in locations like Tulsa and Dallas, for example, have matured significantly. They are no longer just satellite offices for specific services; they now house a robust representation of multiple Opportune practices. This means we're offering a wider array of our firm's capabilities directly to those regional markets and serving a more diverse client base from those locations, reflecting our firm’s evolution."
A Foundation of Experience, A Future of Opportunity
Reflecting on the two-decade journey, Baggett acknowledges the people and partners who have been instrumental. "People have had faith in us to hire us for very important projects and initiatives when Opportune hadn't done it before, faith that we could bring the right resources. They hired a firm that didn't have an established name at the time; they took a chance on us. This anniversary is truly a celebration of our people and our clients."
While the firm's history has been shaped by Baggett's extensive experiences, from his early achievement as the then-youngest partner in Deloitte's history and subsequent executive roles to navigating demanding ventures, including one period where, as he recalls, he "personally went through a business failure and it gave me a completely different outlook," his focus today is firmly on leading Opportune and contributing significantly to key institutions.
This dedication is further underscored by Opportune's recognition as an honoree on the prestigious Aggie 100 list. His deep ties to Texas A&M University continue through his active service on the Dean’s Development Council of the Mays Business School and as the longest-serving member of its Accounting Department Advisory Council. This builds upon his past recognition as an Outstanding Alumnus and his 2016 induction into the Accounting Hall of Honor at the Mays Business School. In 2023, Governor Greg Abbott also appointed Baggett to the distinguished Texas A&M System Board of Regents, and he currently serves on the UTIMCO board of directors, contributing to the management of investments for the permanent university funds of the University of Texas and Texas A&M systems.
"From the trust placed in us by our very first client to the impactful partnerships we forge today," Baggett concludes, reflecting on Opportune's milestone, "we have built a strong legacy characterized by integrity, innovation, and commitment to client-focused success. As we look ahead to the next 20 years, we remain intensely focused on the opportunities and challenges within the core oil and gas industry, where our expertise runs deepest and where we have delivered significant value for two decades. Alongside this foundational work, we embrace the dynamic landscape of change. Leveraging our proven capabilities, we are energized to continue evolving, applying our skills to tackle complex challenges with innovative solutions across the entire energy market and beyond, and delivering lasting value for our clients. Here’s to the next chapter and all the opportunities still to come."
