Ben Dell, a managing partner at funding firm Kimmeridge Energy, explained one of the dangers of SPAC investments to the Wall Street Journal. In accordance with Dell, SPAC s take this drawback to a new "egregious" stage. However, debit card transfers are prompt, however wire transfers can take one-to-three days. However, he was nonetheless a companion at Riverstone and in 2017 was lured again to the fracking enterprise to run a SPAC backed by Riverstone. However, Hackett seems to have realized something from former Enron executive Andrew Fastow: that there is work for former executives like them to show the energy industry about ethics and morality. Hackett has a formidable resume: the previous CEO of fracking firm Anadarko, former chairman of the Federal Reserve Bank of Dallas , an executive committee member of the industry lobbying group American Petroleum Institute , and accomplice at the major non-public equity agency Riverstone Holdings. The best way these investments work is a giant financial institution or non-public fairness firm backs a administration crew to raise cash for the SPAC with the settlement that the leaders of the SPAC will then in some unspecified time in the future make a "particular purpose acquisition" -- which implies they may find an current firm and purchase it.