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 news,Pittsburgh-based Atlas Resource Partners (ARP) is entering the Eagle Ford in a $225-million deal. ARP will acquire 22 producing wells and 19 undeveloped locations containing estimated net reserves of 12-million BOE, according to company officials. The seller was not disclosed.
The U.S. rig count decreased by nine to 1,922 rigs running by the end of last week. A total of 330 rigs were targeting natural gas (eight less than the previous week) and 1,591 were targeting oil in the U.S. (1 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 895 or ~48% of rigs active in the U.S. were 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 (210 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 increased by one to 16 rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 80 and then dropped to around 40 in 2013. Natural gas prices stayed relatively flat from the previous week at $4.02/mmbtu on Friday afternoon.
The oil rig count decreased by two to 251 rigs running by the end of last week. WTI oil prices stayed relatively flat from the previous week, trading at $90.15/bbl on Friday afternoon. Eagle Ford light crude traded at $87.50/bbl on Oct. 2nd.
A total of 244 rigs are drilling horizontal wells, eight rigs are drilling directional wells, and 15 rigs are drilling vertical wells. Karnes, La Salle, and Dimmit each have at minimum 28 rigs running. Karnes County has the highest rig count this week at 37. See the full list below in the Eagle Ford Shale Drilling by County below
South Texas Oil & Gas News:
- Atlas Resource Partners Enters Eagle Ford – $225 Million Deal
- Juneau Energy Adds 10,264 Acres in East Texas Eagle Ford
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.
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