Eagle Ford Rig Count – 266 – EOG’s Eagle Ford Resource Potential Increased by 1 Billion BOE in 2013

Eagle Ford Rig Count Increased by 2 to 266
EOG Resources Eagle Ford Acreage Map

EOG Resources Eagle Ford Acreage Map | Click to Enlarge

The Eagle Ford Shale rig count increased by 2 to 266 rigs running over the past week.

In recent news, EOG Resource’s Eagle Ford resource potential went up 45% to 3.2 billion boe from 2.2 billion boe in 2013. In 2014, EOG will be focusing a large portion of its $8.1 – $8.3 billion capital budget in the Eagle Ford Shale. This decision comes on the heels of increased well productivity and initial production rates in the play in 2013.

Read more: EOG Resources Increases Eagle Ford Resource Potential by 1 Billion BOE in 2013 

The U.S. rig count decreased by 2 to 1,769 running over the past week. A total of 335 rigs are targeting natural gas (7 less than last week) and 1,430 are targeting oil in the U.S. (5 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.).  844 or ~48% 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 (221 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 one rig to 36 running this past week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Over the past week, natural gas decreased to $4.61/mmbtu on Friday afternoon.

The oil rig count increased by 1 to 230 rigs running. WTI oil prices stayed relatively flat, trading at ~$102/bbl by the end of the week. Eagle Ford light crude traded at $99.00/bbl on February 26th.

A total of 233 rigs are drilling horizontal wells, 19 rigs are drilling directional wells, and 14 rigs are drilling true vertical wells. Karnes, La Salle, Dimmit and McMullen counties each have at minimum 24 rigs running. LaSalle County has the highest rig count this week at 33. See the full list below in the Eagle Ford Shale Drilling by County:

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 Count


County Previous Week Current Week County Previous Week Current Week
LA SALLE 33 33 FAYETTE 5 5
KARNES 30 32 WILSON 4 4
MCMULLEN 29 29 GRIMES 3 3
DIMMIT 29 24 BEE 1 1
WEBB 21 23 COLORADO 0 1
DE WITT 23 22 DUVAL 1 1
ATASCOSA 16 17 LEE 1 1
LIVE OAK 10 11 LEON 0 1
GONZALES 11 10 WASHINGTON 1 1
BURLESON 7 9 AUSTIN 0 0
MADISON 10 9 GOLIAD 0 0
ZAVALA 9 9 MAVERICK 0 0
LAVACA 8 8 MILAM 0 0
BRAZOS 6 6 ROBERTSON 1 0
FRIO 5 6 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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Kirk Eggleston

Kirk Eggleston

Contributor at EagleFordShale.com
Kirk Eggleston writes on significant news developments in the Eagle Ford and Bakken Shale plays. He is a former broadcast journalist, and has experience covering news and politics in the Texas and Louisiana markets.

Comments

  1. sharon stacy mcdade says:

    My Father, George Stacy, a general dirt contractor, also building highways, dams and bidding with the Bureau of Reclamation most of my life, would have been thrilled to have a daughter involved in an interest in a company like EOG leasing the little 2.5 acres in a 20-acre piece of land she inherited in Fowlerton. Wow!! What fun it is to keep-up with what’s going on down there. I have a son-in-law in North Dakota with Haliburton, his son who is a directional driller and may now be a consultant with Scientific Exploration in Texas, a son who has his own Down Hole View cable business in Odessa [David Lagan] and a grandson-in-law in the Midland area working for Pioneer as a mechanic! I live in Big Spring and would be thrilled beyond words if our lease with EOG came in. Wow! Great going EOG. Thank you and hope you drill soon. Sharon and her chickens mentioned.

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