Eagle Ford Regional Rig Count at 247 on April 19, 2013

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Halcon Eagle Ford Activity Map

Halcon Eagle Ford Activity Map | Click to Enlarge

The Eagle Ford Shale drilling rig count increased seven rigs to 247 running this past week. That’s a welcome increase after settling near 240 rigs for the past two months.

The week was highlighted by several big announcements. Forest Oil is selling acreage for expertise and capital from Schlumberger. The deal also increases Forest’s Eagle Ford production expectations in 2014.

Halcon has expanded Eagle Ford development into Brazos County and there were three midstream announcements worth well over $1 billion.

Eagle Ford Shale Conference & Expo

Don’t forget about the Eagle Ford Conference & Expo coming up on May 1-2 in Robstown. If you haven’t registered yet, you can do so here:

Eagle Ford Oil & Gas Rigs

The natural gas rig count bounced off the low of 16 last week to 17 this week. We’re still down about 85% from the peak of natural gas drilling in the area. Natural gas prices continued to show strength and traded up to ~$4.40/mmbtu on Friday. With oil prices declining, strength in natural gas prices is a welcomed sight.

A total of 229 oil rigs are running in the region or six more than last week. The WTI crude oil price lost further ground as it traded near $88/bbl Friday afternoon. Eagle Ford light crude traded at $84.25/bbl on April 18th.

There are 221 horizontal rigs running in the region and an injection well is being drilled in Webb County.

La Salle and Karnes counties lead development with 33 and 32 rigs running, respectively. See the full list of drilling by county at the bottom of the page.

South Texas Oil & Gas News:

Our friends from the Texas Oil & Gas Associate and STEER contributed an article this week – Driving Safety A Top Priority For The Oil & Gas Industry

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) 27 28
EOG Resources 25 25
Marathon Oil 17 18
Chesapeake 16 16
ConocoPhillips 10 10
Pioneer Natural 10 10
Anadarko 9 9
Lewis Petroleum 8 8
Murphy Oil 8 7
Plains Exploration 7 7
Talisman Energy (Statoil) 7 7
EP Energy 6 6
Halcon Resources 5 6
Hunt Oil 6 6
Swift Energy 6 6
Rosetta Resources 5 6
Cabot Oil & Gas 4 5
SM Energy 5 5
Shell 4 4
Carrizo Oil & Gas 3 3
All Others 52 55
Total 240 247

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 34 33 FAYETTE 2 2
KARNES 31 32 LAVACA 2 2
DEWITT 26 28 BURLESON 1 1
DIMMIT 24 26 GRIMES 1 1
GONZALES 22 24 LEE 1 1
MCMULLEN 24 23 ROBERTSON 2 1
WEBB 19 20 AUSTIN 0 0
LIVE OAK 14 13 BASTROP 0 0
ATASCOSA 8 8 BEE 0 0
FRIO 4 7 COLORADO 0 0
BRAZOS 5 6 DUVAL 0 0
LEON 6 6 GOLIAD 0 0
WILSON 5 5 MAVERICK 0 0
MADISON 4 4 MILAM 0 0
ZAVALA 5 4 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. Where is Lewis Energy drilling currently?

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