Papa’s returns to the scene with Silver Run

Former EOG Resources chief executive Mark Papa is getting back into the oil business through a deal that will see his start-up Silver Run Acquisition buy a controlling stake in Centennial Resource Production and ultimately merge the two companies in a move that will take Centennial public, writes Noah Brenner.

The deal marks the end of a tumultuous two weeks for Centennial, which had planned for an initial public offering, before being acquired by private equity giant Riverstone and then sold to Silver Run.

Centennial filed paperwork with US Securities Regulators in late June and had planned to launch the offering in early July before Riverstone announced it was paying at least $175 million to buy a controlling stake in Centennial from fellow private equity player Natural Gas Partners.

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Papa’s returns to the scene with Silver Run