Mark Papa To Retire From Centennial Resource Development

Following Mark Papa’s retirement, the board of Permian shale operator Centennial Resource Development has decided to separate the roles of chairman and CEO.

Mark Papa To Retire From Centennial Resource Development

Mark Papa, who notably built independent energy producer EOG Resources into one of the most profitable U.S. shale companies, also serves as chairman of oilfield services giant Schlumberger. (Source: Schlumberger Ltd; Shutterstock.com)

Shale pioneer Mark Papa announced his retirement on Feb. 24 as chairman and CEO of Centennial Resource Development Inc., positions he has held since the Permian Basin-focused company’s $1 billion takeover by Papa-led special-purpose acquisition company Silver Run closed in 2016.

“After fifty-two years in the oil and gas industry, I am looking forward to retirement and spending more time with my family,” Papa said in a statement on Feb. 24.

Papa, who notably built independent energy producer EOG Resources Inc. into one of the most profitable U.S. shale companies, also currently serves as chairman of oilfield services giant Schlumberger Ltd.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.