Halcón Resources Inc. on June 10 appointed Richard Little as CEO, filling a vacancy created in February when the Houston-based company’s founder Floyd Wilson stepped down.
Little is a petroleum engineer with 23 years’ experience in the energy business. He was most recently CEO of Ajax Resources, a Permian Basin-focused E&P backed by New York-based private equity firm Kelso & Co. that sold to Diamondback Energy late last year for roughly $1.3 billion.
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Halcón has faced shareholder pressure, including calls for a sale of the company also made in Feburary by activist investor Fir Tree Partners. The company said June 10 it expects Little’s capital discipline, broad experience and leadership to play “a vital role in capitalizing on Halcón’s significant base in the Permian Basin.”
Little’s appointment is effective June 11. James Christmas will continue to serve as non-executive chairman of the board of directors.
“We are fortunate to have someone of Richard Little’s caliber and experience join us to lead Halcón Resources during this critical time for our company,” Christmas said in a statement. “He brings a wealth of technical, operational and leadership experience.”
Little started his career as a completions engineer with Haliburton Energy Service and prior to his tenure at Ajax held progressive roles in operations management with EP Energy and its predecessors. His experience includes reservoir, drilling, completions, production, and facilities management.
In a statement, Little said he will focus on growing shareholder value at Halcón by driving operational efficiencies and improving overall program economics.
“I am excited about the future of Halcón and pleased to be a part of this team,” he said.
Halcón was assisted with this comprehensive and important executive search by Heidrick & Struggles, according to the company press release.
Emily Patsy can be reached at [email protected].
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