Eagle Ford Rig Count – 268 – Warwick Energy Buys R/C Sugarkane

Eagle Ford Rig Count Stays Flat This Week at 268
ConocoPhillips Eagle Ford Map

ConocoPhillips Eagle Ford Map | Click to Enlarge

The Eagle Ford Shale rig count remained flat at 268 rigs running across our coverage area at the end of last week.

In recent Eagle Ford news, Oklahoma City-based Warwick Energy entered an agreement in early April to acquire R/C Sugarkane LLC, an Eagle Ford upstream oil and gas company. Warwick is buying R/C Sugarkane from Riverstone Holdings, LLC, a New York-based private equity firm, for an undisclosed amount. The deal includes RC Sugarkane’s non-operated working interests in 6,000 net Eagle Ford acres, with 3,000 boe/d in net production.

Read more: Warwick Energy Buys Eagle Ford’s R/C Sugarkane For Undisclosed Amount

The U.S. rig count increased by nine to 1818 rigs running last week. A total of 316 rigs are targeting natural gas (2 less than last week) and 1,498 are targeting oil in the U.S. (11 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.).  877 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 (224 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 decreased by 3 to 16 rigs running this past 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 last week at $4.50/mmbtu on Friday afternoon.

The oil rig count increased by 3 to 252 rigs running over the past week. WTI oil prices decreased, trading at $100.74/bbl by the end of the week. Eagle Ford light crude traded at $97.75/bbl on April 4th.

A total of 231 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 25 rigs running. Karnes County has the highest rig count this week at 31. 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
KARNES 34 31 FAYETTE 4 4
DIMMIT 28 28 WILSON 4 4
MCMULLEN 30 28 GRIMES 3 3
LA SALLE 25 26 COLORADO 1 1
WEBB 24 25 LEE 1 1
DE WITT 22 22 LEON 0 1
ATASCOSA 15 17 WASHINGTON 1 1
LIVE OAK 15 16 AUSTIN 0 0
GONZALES 11 11 BEE 0 0
LAVACA 12 11 DUVAL 0 0
BURLESON 9 9 GOLIAD 0 0
MADISON 9 9 MAVERICK 0 0
FRIO 7 8 MILAM 0 0
ZAVALA 8 8 ROBERTSON 0 0
BRAZOS 5 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.

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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.

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