The right frontman can make or break a band: imagine The Rolling Stones without Mick, Queen without Mercury or The Doors sans Morrison.
Oil and gas blank-check companies have apparently caught on to the wisdom of dropping a singular, magnetic name to draw in a crowd.
Silver Run Acquisition Corp. II (NASDAQ: SRUNU) is the latest blank-check or special-purpose acquisition company (SPAC) to cultivate a CEO who rocks the oil and gas world.
At center stage of Silver Run II’s SPAC is James T. Hackett, the well-respected former board chairman and CEO of Anadarko Petroleum Corp. (NYSE: APC), as CEO. Hackett also previously served as president and COO of Devon Energy Corp. (NYSE: DVN).
On March 24, Silver Run II’s IPO put the company’s value at more than $1 billion with commitments from banks and affiliates of Riverstone Holdings LLC—making it one of Wall Street’s largest SPAC’s.
[Read More …]
Source: Daily Dose of ShaleDirectories.com News