Summary Anticipated US liquids production growth accounts for almost all projected non-OPEC growth in 2018 and 2019. Roughly 70% of US production growth will come from the Permian Basin. This raises the risk of a “black swan” even in the global oil market if productivity or production trends in the Permian unexpectedly deteriorate. In this article, we will review the latest Drilling Productivity Report (DPR) from the U.S. Energy Information Administration (EIA) for the period covering March 2018. In particular, we will focus on the metrics and trends for the premier shale basin in the U.S., the Permian located in West Texas and Eastern New Mexico, and what this may mean for the US Exploration and Production sector ( XOP ). Productivity and production trends in the Permian are crucial in any analysis of not only U.S. production trends and forecasts but also as it pertains to the global […]