Eagle Ford Regional Rig Count 266 – Eagle Ford Spending Could Reach $30 Billion in 2014 – Jan 13, 2014

Eagle Ford Oil Production

Eagle Ford Oil Production | Click to Enlarge

The Eagle Ford Shale rig count dropped by two rigs to 266 running over the past week.

In recent Eagle Ford news, development spending is anticipated to hit $20 billion dollars, with some estimates pushing that figure up to $30 billion.

Read the full article: Eagle Ford Spending Could Reach $30 Billion in 2014

The U.S. rig count increased by three rigs from 1,751 to 1,754 running over the past week. A total of 357 rigs are targeting natural gas (15 less than last week) and 1,393 (15 more than last week) are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 825 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 (229 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 increased by two rigs to 30 running this past week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Don’t be surprised if this is the bottom and we see more natural gas rigs this year. Natural gas essentially stayed level around ~$4/mmbtu on Friday afternoon.

The oil rig count decreased by 4 to 236 rigs running. WTI oil prices took a slight hit as trading resumed for the new year, dropping to just under $92/bbl by the end of the week. Eagle Ford light crude traded at $88/bbl on January 13th.

A total of 227 rigs are drilling horizontal wells, 23 rigs are drilling directional wells, and 16 rigs are drilling true vertical wells. Karnes, DeWitt, La Salle, and McMullen counties all have between 29 and 31 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 31 33 BURLESON 4 4
LA SALLE 29 31 WILSON 3 4
DE WITT 29 29 MAVERICK 2 3
MCMULLEN 30 29 BEE 1 2
DIMMIT 25 25 GRIMES 2 2
WEBB 22 21 COLORADO 1 1
GONZALES 17 16 GOLIAD 0 1
ATASCOSA 18 15 LEE 1 1
MADISON 9 9 LEON 1 1
BRAZOS 8 8 AUSTIN 0 0
LAVACA 7 7 DUVAL 2 0
LIVE OAK 9 7 MILAM 0 0
FRIO 6 6 ROBERTSON 0 0
ZAVALA 6 6 WASHINGTON 0 0
FAYETTE 5 5 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.

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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.

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