William Waggoner possesses a strong educational background in both petroleum management and law, with specialized expertise in natural resources and international law, including studies at Oxford University. He notably authored the foundational draft for the U.S.-Mexico treaty regarding hydrocarbon exploration in shared maritime zones, which was eventually ratified.

He has extensive experience in the petroleum industry, including leadership roles such as Executive Director of the Independent Petroleum Association of New Mexico, where he successfully advocated for numerous industry-benefiting laws. He also served as General Director of Trigg Oil and Gas, managing oil and gas properties across multiple states and providing legal counsel.