Richard Moncrief is a "third generation principal in Moncrief Oil, a family owned exploration and production company with headquarters in Fort Worth, Texas, and is the owner of Moncrief Oil International, Inc. Mr. Moncrief has served on the Board of Directors of the Independent Petroleum Association of America, the JP Morgan Chase Bank of Texas, and is a member of the All-American Wildcatters. He holds a Bachelor's of Science degree in Petroleum from the University of Texas.
"Mr. Moncrief serves on the Board of Trustees at the Amon Carter Museum, the William A. and Elizabeth B. Moncrief Foundation. He is a General Partner in Moncrief Europe and Asia Holdings Partnership. He also serves as a Chairman of Central Asia Energy Company." 
Moncrief is a member of the Board of Trustees of the US-Azerbaijan Chamber of Commerce.