Eagle Ford Regional Rig Count 265 – Comstock Adds Eagle Ford Acreage – Thanksgiving Week

Record High Oil Rig Count and a Record Low Natural Gas Rig Count
Comstock Resources East Texas Eagle Ford Map

Comstock Resources East Texas Eagle Ford Map | Click to Enlarge

The Eagle Ford Shale rig count increased by two rigs to 265 running during Thanksgiving week. The natural gas rig count held at an Eagle Ford era low of just 23 and the oil rig count matched a high with 241 rigs drilling for liquids.

The biggest announcement of the week was Comstock Resources reaching a deal with Ursa Resources for 20,000 net acres and ~400 boe/d in Burleson and Washington counties. Read more in the article: Comstock – Ursa Resources Reach Eagle Ford Deal for $66.5 Million

The U.S. rig count increased two rigs from 1,761 to 1,763 running over Thanksgiving week. A total of 367 rigs are targeting natural gas (2 less than last week) and 1,391 (4 more than last week) are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 834 or 47% of rigs active in the U.S. are running in Texas.

Baker Hughes rig count is quoted here. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (227 rigs). 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 near the bottom of this article.

Eagle Ford Oil & Gas Rigs

The natural gas rig count held at 23 rigs running over the past week. That’s almost half the average of 42 rigs that have been targeting natural gas so far in 2013. Natural gas prices were up about fifteen cents during the week and were trading around $3.90/mmbtu on Friday. With gas prices approaching $4, I suspect the natural gas rig count is near a theoretical bottom in the Eagle Ford.

The oil rig count increased 2 rigs to 241. That matches the all time high set in July of this year. WTI oil prices were trading around $93/bbl to end the week and Eagle Ford light crude traded at $89.25/bbl on November 29th.

A total of 231 rigs are drilling horizontal wells, 16 rigs are drilling directional wells, and 18 rigs are drilling true vertical wells. Karnes, DeWitt, La Salle, Gonzales, McMullen and Webb counties all have between 25 and 32 rigs running. See the full list of drilling by county below.

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 Shale Drilling by County

County Previous Week Current Week County Previous Week Current Week
KARNES 32 32 FAYETTE 2 4
LA SALLE 27 30 LEON 4 4
MCMULLEN 29 29 WILSON 4 4
DE WITT 27 26 DUVAL 3 3
WEBB 25 25 BEE 1 1
DIMMIT 22 22 COLORADO 1 1
GONZALES 22 22 GRIMES 1 1
ATASCOSA 12 13 LEE 1 1
LIVE OAK 11 10 MAVERICK 1 1
BRAZOS 7 7 AUSTIN 0 0
LAVACA 8 7 GOLIAD 0 0
ZAVALA 8 7 MILAM 0 0
MADISON 5 6 ROBERTSON 0 0
FRIO 5 5 Washington 1 0
BURLESON 4 4 BASTROP 0 0

Eagle Ford Operated Rig Count By Company

SmithBits no longer reports its operated rig count, but we’ll have updated number for you from a new source soon. Until then, you can reference our numbers from mid-April. There has not been a significant change in the overall rig count since this date:

Operator Name Apr-13
BHP (Petrohawk) 28
EOG Resources 25
Marathon Oil 18
Chesapeake 16
ConocoPhillips 10
Pioneer Natural 10
Anadarko 9
Lewis Petroleum 8
Murphy Oil 7
Plains Exploration 7
Talisman Energy (Statoil) 7
EP Energy 6
Halcon Resources 6
Hunt Oil 6
Swift Energy 6
Rosetta Resources 6
Cabot Oil & Gas 5
SM Energy 5
Shell 4
Carrizo Oil & Gas 3
All Others 50+

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

The following two tabs change content below.
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

Add a Comment

MENU