If Permian Basin oil production were a stock,Wall Street brokers would insist their clients buy it.By almost any measure,the basin delivers.The 55 counties in Texas and New Mexico that make up the Permian account for almost half-roughly 45%-the U.S.'oil production,according to the U.S.Energy Information Administration(EIA).The basin's market share is up almost 20% since 2013.There's no other way to put it:The Permian sustains American oil production.But,since the earliest days of the shale revolution,naysayers have warned that its time in the sun will be short lived.The caution has come from many directions; industry insiders ring out some of the loudest supply warnings.Back in 2017,shale pioneer Mark Papa,then-CEO of Centennial Resource Development,cautioned on the play's great expectations."Even in a constructive oil price environment,I expect the 2018 total U.S.oil growth will be considerably less than the 1.2 million to 1.4 million barrels per day that many people are predicting,"he said.The Permian proved Papa wrong.
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