Rig Count and US Oil Production

Can anyone explain the disconnect between the declining US rig count and current record oil production? The narrative is there has been a dramatic increase in drilling efficiency, which makes me skeptical. Is there another explanation for the data? $Exxon Mobil(XOM.US)$ $ProShares UltraShort Bloomberg Crude Oil ETF(SCO.US)$ $Occidental Petroleum(OXY.US)$