Ben Hunter, CEO of Fort Worth, Texas-based Pine Wave Energy Partners LLC, is today’s Forty Under 40 featured honoree.
Ben recently helped co-found Pine Wave, a privately-held operator focusing on unconventional development in the East Texas Basin.
Previously, Ben was with Dallas-based Covey Park Energy, where he served as the general manager and vice president of operations for the company’s efforts in the Deep Bossier and Haynesville shale.
Ben considers his former boss John Jacobi, the co-CEO of Covey Park who he said has had a tremendous impact on his career path, as one of his primary mentors.
“He has taught me so much about the macro perspective of the business, which has allowed me to become much more than an engineer,” Ben said. “It’s hard to settle on the most valuable advice he’s given me, but it has to be around management: The only way to lead effectively is by example, and as a leader it’s your responsibility to provoke inspiring strategies and ideas.”
The parties must now renegotiate a deal that would transfer Breitburn's Permian reserves to investors including Elliott and WL Ross through their participation in a $775 million rights offering.
All but seven of 29 of the top independent shale producers in the U.S. last year spent more on drilling and shareholder payouts than they generated through operations, according to Reuters analysis.
Sustained lower oil prices may lead to Permian consolidation, the return of tough times to other shale plays and U.S. E&Ps helping rebalance global inventories.