Eagle Ford Regional Drilling at 249 Rigs Jan 11, 2013

Capital Budgets Indicate Many Companies Are Going All In On the Eagle Ford
Comstock Resources Eagle Ford Map

Comstock Resources Eagle Ford Map | Click to Enlarge

Eagle Ford Shale regional drilling fell to 249 rigs running this past week.

We know that capital spending will make the Eagle Ford the largest development in the world in 2013, but we spent time reviewing a few smaller companies’ budgets.

Eagle Ford Oil & Gas Rigs

The natural gas rig count was 42 this week as gas prices fell further, but then bounced on Friday to end the week basically flat near $3.30/mmbtu.

The oil rig count was flat at 204 running in the area. WTI crude futures were trading close to $94 per barrel to end the week. Eagle Ford crude priced at $106.53/bbl on the 8th of January. Eagle Ford light crude and condensate in the area traded at $90 and $89, respectively.

There are 241 horizontal rigs running in the region. A storage well is being drilled in Zavala County and disposal wells are being drilled in Frio County and Leon County.

La Salle & Karnes counties lead development with 32 rigs running. McMullen (28),Dimmit (25), Webb (22), Gonzales (21), DeWitt (15), Live Oak (11), Atascosa (8), Fayette (8), Lavaca (8), Leon (8), Frio (6) and Zavala (6) round out the top counties in the region.


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Eagle Ford Rig Count by Operator

Operator Name Prior Week Current Week
BHP (Petrohawk) 31 30
EOG Resources 22 21
Chesapeake 20 20
Marathon Oil (Hilcorp) 18 18
Lewis Petroleum 11 10
Murphy Oil 11 10
Anadarko 8 9
ConocoPhillips 11 9
Talisman Energy (Statoil) 8 9
Pioneer Natural 9 8
Plains Exploration 7 7
Hunt Oil 6 6
Rosetta Resources 6 6
EP Energy 5 5
Halcon Resources 5 4
Sanchez Energy 5 4
Shell 5 4
SM Energy 4 4
Swift Energy 4 4
Carrizo Oil & Gas 3 3
All Others 54 58
Total 253 249

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 SmithBits 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 and/or Smith Service Co’s (Schlumberger) Smith Rig Count.

Eagle Ford Shale Drilling by County

Texas County Prior Week Current Week Texas County Prior Week Current Week
KARNES 29 32 BRAZOS 4 4
LA SALLE 32 32 GRIMES 3 4
MCMULLEN 29 28 MADISON 4 4
DIMMIT 22 25 ROBERTSON 2 2
WEBB 24 22 BEE 0 1
GONZALES 21 21 MILAM 1 1
DEWITT 18 15 AUSTIN 0 0
LIVE OAK 14 11 BASTROP 0 0
ATASCOSA 10 8 BURLESON 0 0
LAVACA 8 8 COLORADO 0 0
LEON 6 8 DUVAL 0 0
FAYETTE 8 6 GOLIAD 0 0
FRIO 6 6 LEE 0 0
ZAVALA 6 6 MAVERICK 0 0
WILSON 6 5 Washington 0 0
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R.T. Dukes

R.T. Dukes

Managing Editor at EagleFordShale.com
R.T. is the managing editor of EagleFordShale.com. In prior roles, he advised major oil companies on strategy, the macro business environment, and opportunity screening. 2503 Robinhood, Houston, TX, 77005, U.S.A. | Telephone: 832.429.4790

Comments

  1. Duncan H. Adams says:

    Mr. Dukes, I am a lease interest owner of Crisp # 1A and 2H very near ECLECTO and close to HELENA. These two wells began to produce in December of 2012 and were drilled near HLENA. They have done very good.

    Subsequently, Petrehawk drilled and fractured 4 more wells in late May and June of this year (2013). The 4 new wells are within kilometers of first 2 wells and and were fractured, the plugs were drilled, and they were opened for mineral flow on June 20th (just a few days ago). Still, I can find no information or anyone in the Houston Office who has any news on theses wells and their production. We hope they are as good or better than Crisp # 1A and 2H. Do you have any information concerning new well production?

    Could you please let me know how these wells are performomg and if they are off to the great start which the firtst two wells encountered?

    Thank you in advance for your knowledge on this matter.

    With Best Regards,

    Duncan H. Adams

  2. linda kyle says:

    I was notified about being part owner of 102 acres in lasalle also found out drilling was started in June 2012. Every time I try to find out anything about the well I am told they will look into it and will get back to me. I feel I am in need of a good attorney. Do you recommend anyone? I was hoping I could trust the company but am having some doubts at this point.

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