Eagle Ford Regional Rig Count at 238 on March 29, 2013

Economic Impact of the Eagle Ford Hits $61 Billion
Economic Impact of the Eagle Ford Shale

Economic Impact of the Eagle Ford Shale | Click to Enlarge

The Eagle Ford Shale drilling rig count fell two rigs to 238 units running this past week. The region had an average of 247 rigs running throughout the first quarter. 252 were running in January, 249 in February, and an average of 241 ran throughout March.

Happy Easter! He is risen, he is risen indeed.

The highlight of the week was from a new economic impact study released by UTSA. You can read more about the study in our article UTSA Eagle Ford Study Touts Oil & Gas Benefits. A few highlights from 2012 include:

  • $61 Billion economic impact
  • 116,000 jobs supported
  • Almost $5 Billion paid in salaries last year
  • $3 Billion paid in royalties

Eagle Ford Oil & Gas Rigs

The natural gas rig count fell three to a new low of 20 running this past week. Natural gas prices traded up during the week to more than $4/mmbtu. That’s a significant milestone and one that will be welcomed by operators with significant natural gas production. Note the natural gas rig count continues to fall even though prices are improving. Remember, capital budgets are set annually and it will take a few months for operators to respond to improving prices.

A total of 217 oil rigs are running in the region. That’s one more than last week. WTI crude futures were up almost $4 to more than ~$97/bbl Friday afternoon. Eagle Ford light traded at $93.75/bbl on March 28th.

There are 205 horizontal rigs running in the region. An injection well is being drilled in Webb County.

La Salle County continues to lead development with 31 rigs running. See the full list of drilling by county at the bottom of the page.

South Texas Oil & Gas News:

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates or sign up for alerts – Daily or Weekly Email Alerts

Eagle Ford Rig Count by Operator

Operator Name Prior Week Current Week
BHP (Petrohawk) 31 31
EOG Resources 23 22
Marathon Oil 18 18
Chesapeake 16 16
ConocoPhillips 10 10
Pioneer Natural 10 10
Anadarko 7 8
Lewis Petroleum 8 7
Plains Exploration 7 7
Talisman Energy (Statoil) 7 7
Halcon Resources 6 6
Hunt Oil 6 6
Murphy Oil 8 6
SM Energy 6 6
Swift Energy 6 6
EP Energy 5 5
Rosetta Resources 5 5
Shell 4 4
Carrizo Oil & Gas 3 3
Comstock Oil & Gas 3 3
All Others 51 52
Total 240 238

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
LA SALLE 33 31 ZAVALA 3 3
KARNES 28 28 FAYETTE 2 2
DEWITT 28 27 GRIMES 2 2
MCMULLEN 25 26 ROBERTSON 2 2
WEBB 24 23 BURLESON 0 1
DIMMIT 20 22 AUSTIN 0 0
GONZALES 22 21 BASTROP 0 0
LIVE OAK 13 13 BEE 0 0
ATASCOSA 9 9 COLORADO 0 0
LEON 9 7 DUVAL 0 0
MADISON 5 5 GOLIAD 0 0
WILSON 5 5 LEE 0 0
BRAZOS 3 4 MAVERICK 0 0
FRIO 4 4 MILAM 0 0
LAVACA 3 3 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

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