Early Life and Education
Timothy Marvin Dunn was born in 1955 in Big Spring, Texas. He was the youngest of four boys and grew up in a Christian household. He graduated from Big Spring High School in 1974, where he was an Eagle Scout and played basketball. Dunn earned a Bachelor's degree in chemical engineering from Texas Tech University in 1978.
Rise to Success
Dunn's career began as an engineer at ExxonMobil from 1978 to 1980. He then transitioned into banking at First City National Bank in Midland, where he became senior vice president and manager of oil and gas lending. In 1996, Dunn founded CrownQuest Operating, an oil and gas company. CrownQuest became a major player in the Permian Basin, and by 2022, it was the eighth-largest oil producer in Texas. He was named top CEO of a large company by the Texas Independent Producers and Royalty Owners Association and Texas Monthly magazine in 2013. Dunn sold CrownQuest to Occidental Petroleum in December 2023, in a deal valued at $12.4 billion.
Key Business Strategies
Dunn's success in the energy industry is attributed to acquiring cheap leases in the Permian Basin before fracking became widespread. This strategic move allowed CrownQuest to capitalize on the fracking boom and grow significantly. The sale of CrownQuest to Occidental Petroleum in 2023 further solidified his financial success.
Philanthropy
Dunn is involved in various philanthropic initiatives. He is the chairman of the Christian Advisory Board of the Israel Allies Foundation. Dunn also supports adoption services and foster homes for over 300 children in West Texas. He co-founded Midland Classical Academy and serves on its board. His philanthropy extends to educational and religious causes rooted in Christian values.