Eagle Ford Rig Count Flat at 278 – April 27, 2012

Drilling Rig ImageThe Eagle Ford Shale drilling rig count held flat at a record of 278 working units week over week. That means the month of April was the most active in the history of the Eagle Ford. An average of more than 274 rigs were running the entire month. The top 20 operators control almost exactly 80% of the rigs, with the top five running 47% of all rigs in the region.

Eagle Ford Oil & Gas Rigs

The natural gas directed count fell to 68 rigs this week. Future prices for Henry Hub were trading at $2.17/mmbtu as of Friday afternoon. That’s a nice bump from last week, but that’s largely due to contracts rolling into the next month.  Oil directed activity jumped three rigs to 210  and oil prices were trading at $104.50 per barrel (WTI) early in the afternoon.

A record 264 horizontal rigs are running in the region. Karnes County leads development with 44 rigs. La Salle (38),  McMullen (28),  Dimmit (27), Webb (27), DeWitt (26), Gonzales (25), Live Oak (12), and Frio and Zavala counties with 8 rigs each make up the top Eagle Ford counties.

Quarterly earnings reports started this week and we’ll get even more news next week:

If you are headed to San Antonio/South Texas, visit our Eagle Ford Hotels page. We’ve negotiated discounted rates with hotels that are welcoming the Oil & Gas Industry.

Come back weekly for updates or sign up for alerts – Email Subscribe Link]

Drilling Rig Count by Operator

 


Operator Name Prior Week Current Week
Chesapeake 35 35
EOG Resources 29 29
Petrohawk (BHP) 21 19
Marathon Oil (Hilcorp) 17 18
ConocoPhillips 16 17
Talisman Energy (Statoil) 12 13
Pioneer Natural 12 12
Anadarko 11 10
Murphy Oil 10 10
Plains Exploration 8 8
Lewis Petroleum 9 7
SM Energy 7 7
Shell 6 6
Swift Energy 6 6
Hunt Oil 5 5
Rosetta 5 5
Carrizo Oil & Gas 4 4
Exxon (XTO 4 4
Dan Hughes 3 3
El Paso Energy 3 3
All Others 55 57
Total 278 278

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 SmithBits 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.

Drilling Rigs by County

Texas County Prior Week Current Week Texas County Prior Week Current Week
KARNES 44 44 WILSON 3 3
LA SALLE 40 38 FAYETTE 2 2
MCMULLEN 27 28 LEE 2 2
DIMMIT 26 27 ROBERTSON 2 2
WEBB 30 27 BRAZOS 2 1
DEWITT 24 26 MAVERICK 2 1
GONZALES 23 25 Washington 1 1
LIVE OAK 11 12 AUSTIN 0 0
FRIO 8 8 BASTROP 0 0
ZAVALA 8 8 BEE 0 0
ATASCOSA 8 7 BURLESON 0 0
LAVACA 5 5 COLORADO 0 0
LEON 3 5 DUVAL 0 0
GRIMES 3 3 GOLIAD 0 0
MADISON 4 3 MILAM 0 0
The following two tabs change content below.
R.T. Dukes

R.T. Dukes

Managing Editor at EagleFordShale.com
R.T. is the managing editor of EagleFordShale.com. In prior roles, he advised major oil companies on strategy, the macro business environment, and opportunity screening. 2503 Robinhood, Houston, TX, 77005, U.S.A. | Telephone: 832.429.4790

Comments

  1. Teresa Bingham says:

    My family has property about 2 miles south or southwest of Charlotte on Hwy 97. Based on maps that we have seen it looks like this area is in the oil area of the shale. Any idea if this area will be drilling any time soon? We have it leased to El Paso E & P. Thanks for you help.

Add a Comment

MENU