Eagle Ford Shale Rig Count – August 5, 2011

This week the Eagle Ford Shale rig count is up from 227 to 229 active drilling rigs. The number of natural gas rigs working dropped down by 5 from 109 gas rigs drilling to 104, while the oil rig count jumped from 117 active rigs to 124. One rig is drilling a storage well in Milam County, TX. Horizontal rigs account for 206 of the 229 rigs drilling in the South Texas region.

In a week full of earnings releases, we had several interesting developments. Bentek reported that Eagle Ford Shale production doubled between May and July and now tops 160,000 barrels of oil per day. EOG Resources was happy to report promising “consistency” across its 535,000 acres in South Texas. SM Energy increased its capital budget and now plans to spend over $800 million in the Eagle Ford this year. And on the opposite side of the coin, Petrohawk abandoned the Red Hawk prospect in Zavala County, TX. The stock market took a turn for the worse this week, but we should see strong Eagle Ford Shale drilling levels going forward.

Stay tuned each week for an update on the South Texas rig count. Better yet, Subscribe by RSS or Subscribe by Email.

Drilling Rig Count by County

Texas County Prior Week Current Week Texas County Prior Week Current Week
KARNES 31 33 ZAVALA 2 3
DIMMIT 28 29 COLORADO 1 2
WEBB 24 25 FAYETTE 2 2
LA SALLE 21 21 LEE 1 2
GONZALES 20 20 BRAZOS 2 1
DEWITT 22 19 GOLIAD 1 1
MCMULLEN 15 16 GRIMES 1 1
ATASCOSA 12 11 LAVACA 1 1
LIVE OAK 10 11 MAVERICK 0 1
LEON 9 9 AUSTIN 0 0
FRIO 5 6 BASTROP 0 0
MADISON 5 5 BEE 0 0
ROBERTSON 5 4 BURLESON 0 0
MILAM 3 3 DUVAL 1 0
WILSON 5 3 WASHINGTON 0 0

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 Shale.

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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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.
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