James Hackett and His Entrepreneurial Venture in Oil Industry

James T. Hackett is the former chief executive of Anadarko Petroleum Corp. He served as from December 2003 to June 2013 when he retired. During his short retirement, he enrolled at Harvard Divinity school and is now back in the oil industry. James joined the divinity school in Cambridge Massachusetts and graduated in May 2016. In 2017, James founded Silver Run Acquisition Corp, an oil company. He is also a Partner at Riverstone Holdings based in New York. Riverstone Holdings is a privately held firm that deals with energy. His leadership at energy companies began in the early 1990s and has been an asset to several corporations in the industry.

Hackett who holds an MBA from Harvard University and a B.S from the University of Illinois is also a Board Member of Rice University, Houston. He began lecturing on moral leadership in the economic enterprise at the University this past week. Teaching was his major goal once he graduates from Harvard and he is now fulfilling the dream after serving for many years in the oil industry. Hackett is also an author with his current project being ‘Integrating Sacred and Secular Lives at Work.’

Riverstone Holdings, founded by David Leuschen and Pierre Lapeyre sponsored the formation of Silver Run Acquisition Corporation. Mr. Hackett also serves as the Director and CEO of the company. The energy company which went public in March this year and successfully raised about $1 billion in its IPO. The company is also in plans to merge with two Oklahoma companies namely Kingfisher Midstream LLC and Alta Mesa Holdings LP. Kingfisher Midstream is a pipeline firm with pipeline covering over three hundred miles. Alta Mesa Holdings which has been operational for over 30 years, is Kingfisher Midstream’s primary customer. The oil explorer holds drilling rights to 120,000 acres in Stack play, Oklahoma. The production capability of Kingfisher is about sixty million cubic feet while its crude warehouse consists of 50,000 barrels. The total price of the two companies is valued at $3.55 billion.

Hackett’s entrepreneurial journey in the oil industry is alike with that of Mark Papa. Mark Papa transformed Enron Corporation into the largest oil driller in the United States. His leadership left a mark in the company. He later on retired in 2013 and returned to form Centennial Resource Development. James Hackett’s funding and acquisition strategies were similar to that of Mark Papa. Mark purchased a subsidiary of NGP Energy Capital Management, and the acquisition brought him greater growth with his company.