CDEV Chairman Mark Papa says tepid U.S. production growth due to running out of Tier 1 drilling locations in 2 of the 3 biggest U.S. oil basins
Centennial Resource Development (ticker: CDEV) reported Q3 earnings today and CDEV Chairman and CEO Mark Papa took the occasion to express his observations about the actual reasons for a drop in growth of overall U.S. oil production.

“Based on monthly EIA numbers, U.S. oil production has been essentially flat for the past seven months,” CDEV CEO Papa said, “and I expect 2017 year-over-year productio...

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