Mark G. Papa is known for his hands-on approach in the oil and gas industry. He earned a B.S. in Petroleum Engineering from the University of Texas at Austin, laying a strong technical foundation that led to his leadership role...
Mark G. Papa is known for his hands-on approach in the oil and gas industry. He earned a B.S. in Petroleum Engineering from the University of Texas at Austin, laying a strong technical foundation that led to his leadership role at Permian Resources Corporation. He became the CEO in November 2015 and played a critical role in aligning the company with its performance goals. However, in March 2020, he decided to retire, believing it necessary to allow the board to find a path forward amid challenges in the oil market. During his tenure, Papa received various compensations with reports showing a peak total earnings in 2017 at approximately $2.84 million. His approach to compensation was reflective of company performance, which sometimes included significant bonuses based on operational achievements. Notably, he declined stock grants and options in his last years, focusing instead on cash compensation and aligning with the company's financial health. His departure was marked by a clear statement about differing views on the company's direction, highlighting the complexities of leadership in fluctuating markets.