Eagle Ford producers are continuing to sideline rigs.
The Eagle Ford Shale rig count ended the week with 47 rigs running across our coverage area by midday Thursday.
In recent Eagle Ford news, the Texas Workforce Commission reported last week that two companies that service Eagle Ford Shale will lay off 174 people.
Read more:The Eagle Ford Loses More Jobs
A total of 464 oil and gas rigs were running across the United States this week, which is a drop of 12 over last week. 92 rigs targeted natural gas (three more than the previous week) and 372 were targeting oil in the U.S. (15 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)209 of the rigs active in the U.S. were running in Texas.
Baker Hughes reports its own Eagle Ford Rig Count that covers the 14 core counties. The rig count published on EagleFordShale.com includes a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table below.
Eagle Ford Oil & Gas Rigs
Natural gas rigs increased in the Eagle Ford fell by on to four this week as natural gas prices dipped, trading at $1.81/mmbtu, a $.12 decrease from the previous week.
The Eagle Ford saw fewer rigs targeting oil rigs this week, with 43 running across the region. WTI oil prices ended the week at $39.46, a decrease of $.18 over last week. A total of 42 rigs are drilling horizontal wells, zero are drilling directional wells, and five are vertical rigs.
Karnes County continues to lead the region in development but dropped to 11 running rigs. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale Drilling by County
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What is the Rig Count?
The Eagle Ford Shale Rig Count is an index of the total number of oil & gas drilling rigs running across a 30 county area in South Texas. The South Texas rigs referred to in this article are for ALL drilling reported by Baker Hughes and not solely wells targeting the Eagle Ford formation. All land rigs and onshore rig data shown here are based upon industry estimates provided by the Baker Hughes Rig Count.
Read more at bakerhughes.com