Eagle Ford Shale Rig Count Decreases by One to 267

Atlas Resource Partners Enters Eagle Ford in $225 Million Deal
Atascosa County Eagle Ford Shale Map

Atascosa County, TX

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.

Read more: Atlas Resource Partners Enters Eagle Ford – $225 Million Deal

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:

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 37 37 LEON 4 4
DIMMIT 28 29 ZAVALA 5 4
LA SALLE 26 28 LEE 4 2
MCMULLEN 23 24 WILSON 3 2
DE WITT 21 22 BEE 1 1
WEBB 22 22 COLORADO 1 1
GONZALES 15 15 GRIMES 3 1
MADISON 13 15 MAVERICK 0 1
BRAZOS 11 13 ROBERTSON 1 1
ATASCOSA 13 11 AUSTIN 0 0
LAVACA 12 11 DUVAL 0 0
FRIO 6 7 GOLIAD 1 0
LIVE OAK 7 7 MILAM 0 0
BURLESON 6 5 WASHINGTON 1 0
FAYETTE 4 4 BASTROP 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 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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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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