The Eagle Ford Shale rig count decreased by one to 267 rigs running across our coverage area by the end of last week.
In recent Eagle Ford news, Horizon Energy Corporation announced in early April that it signed an option agreement for an oil and gas lease in Webb County, TX. The land consists of 1,340 acres located close to Mirando City.
The U.S. rig count increased by 13 to 1831 rigs running by the end of last week. A total of 310 rigs are targeting natural gas (6 less than last week) and 1,517 are targeting oil in the U.S. (19 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 884 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 (220 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 remained flat at 16 rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Natural gas prices stayed relatively flat from last week at $4.62/mmbtu on Friday afternoon.
The oil rig count decreased by 1 to 251 rigs running by the end of last week. WTI oil prices increased, trading at $103.25/bbl on Friday afternoon. Eagle Ford light crude traded at $100.25/bbl on April 11th.
A total of 230 rigs are drilling horizontal wells, 23 rigs are drilling directional wells, and 14 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, McMullen and Webb counties each have at minimum 23 rigs running. Karnes County has the highest rig count this week at 30. See the full list below in the Eagle Ford Shale Drilling by County:
South Texas Oil & Gas News:
- Horizon Energy Corporation Signs Lease Option Agreement for Eagle Ford Acreage
- Abraxas Petroleum Operations Update Reveals Strong Initial Production (IP) Rate for McMullen County Well
- U.S. Energy Corp. Provides Operations Update For Buda Limestone Wells
- Houston Engineering Firm Opens Eagle Ford Branch Office in Webb County
Eagle Ford Shale Drilling by Count
|County||Previous Week||Current Week||County||Previous Week||Current Week|
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:
|Talisman Energy (Statoil)||7|
|Cabot Oil & Gas||5|
|Carrizo Oil & Gas||3|
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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