He once was retired, but now James Hackett, former CEO of Andarko Petroleum Corporation, is back to business as usual, with a new twist. Along with running a new multi billion dollar oil business, he has also signed on to be a university professor. Slowing down is no longer in sight for the motivated entrepreneur.
The new company hi is managing is called “Alta Mesa Resources, Inc.” and will have a market value of approximately $3.8 billion. The concentration of the company will be the STACK region in Oklahoma.
“Not just survive, you really need to thrive during a low-price cycle like now,” Hackett stated in an interview with World Oil when speaking of his company’s ability to turn a $25 profit per barrel. “That’s the cool thing about this company. It’s an incredible machine at a higher price level, but it works just fine at this price level.”
Clearly Hackket will be very busy after his retirement. Especially with the fact that in addition to being chairman for Alta Mesa, as mentioned above, he will begin teaching moral leadership in economic enterprise at Rice University in Houston. He is also writing a book and will begin teaching at University of Texas soon.
“It’s exciting as heck for me, even though that’s not what I envisioned doing,” Hackett said during an interview.
In the 90’s, Hackett started leading energy companies and during a nearly decade-long tenure at Anadarko, he built it onto one of the biggest independent U.S. crude producers.
After he retired, he decided to attend divinity school at Harvard. He intended to teach after graduation, but he did not intend to go back in the oil industry. However, he now has two new commitments, the running of a new oil company (with encouragement from David Leuschen and Pierre Lapeyre of Riverstone, LLC) and teaching at a university.