The Eagle Ford Shale rig count gained ground this week returning to 103 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, the Obama administration’s newly proposed regulations on methane emissions will likely cost the oil and gas industry as much as $420 million and add additional pressure to stressed Eagle Ford producers.
Read more: Will Methane Regulations Kill Texas Jobs?
The U.S. rig count fell by four this week, ending with 838 rigs running by midday Friday. A total of 194 rigs were targeting natural gas (down four from previous week) and 640 were targeting oil in the U.S. (one less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 363 of the rigs active in the U.S. were running in Texas.
Baker Hughes reports its own Eagle Ford Rig Count that covers the 14 core counties. 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
Natural gas rigs in the Eagle Ford fell to 13 this week as natural gas prices traded at $2.56/mmbtu, a $.03 decrease from the previous week.
The oil rig count was at 89 and WTI oil prices ended the week at $45.70, an increase of $.70. A total of 89 rigs are drilling horizontal wells, two are drilling directional wells, and 12 are vertical rigs. DeWitt and Karnes Counties both took the lead at 17 rigs this week. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale Drilling by Count
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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.
Read more at bakerhughes.com