The Eagle Ford Shale rig count increased by four to 267 rigs running across our coverage area by the end of last week.
In recent Eagle Ford news, Clayton Williams production, revenues and operating costs for the first-quarter of 2014 were down compared to the first-quarter of 2013, after two significant divestitures over the course of the last year. Overall production was 250 boe/d below analyst estimates for the first-quarter of 2014 according to company officials.
The U.S. rig count increased by 30 to 1,861 rigs running by the end of last week. A total of 323 rigs were targeting natural gas (7 more than the previous week) and 1,534 were targeting oil in the U.S. (24 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 894 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 (219 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 remained flat at 16 rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Natural gas prices stayed relatively flat from last week at $4.65/mmbtu on Friday afternoon.
The oil rig count increased by 4 to 251 rigs running by the end of last week. WTI oil prices decreased slightly, trading at $100.56/bbl on Friday afternoon. Eagle Ford light crude traded at $98.50/bbl on April 24th.
A total of 231 rigs are drilling horizontal wells, 21 rigs are drilling directional wells, and 15 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, McMullen and Webb counties each have at minimum 25 rigs running. Karnes County has the highest rig count this week at 31. See the full list below in the Eagle Ford Shale Drilling by County:
South Texas Oil & Gas News:
- Austin Exploration Eagle Ford Well with Halcón Resources Has Good Initial Production (IP) Rates
- Clayton Williams Falls Short of First-Quarter 2014 Production Estimate
- Sundance Energy Completes Eagle Ford Lease Acquisition and Development Agreement
- Kinder Morgan Secures Enough Commitments for Eagle Ford KMCC Pipeline
Eagle Ford Shale Drilling by Count
|County||Previous Week||Current Week||County||Previous Week||Current Week|
Eagle Ford Operated Rig Count By Company
SmithBits no longer reports its operated rig count, but we’ll have updated number for you from a new source soon. Until then, you can reference our numbers from mid-April. There has not been a significant change in the overall rig count since this date:
|Talisman Energy (Statoil)||7|
|Cabot Oil & Gas||5|
|Carrizo Oil & Gas||3|
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 and/or Smith Service Co’s (Schlumberger) Smith Rig Count.
Latest posts by Kirk Eggleston (see all)
- Goodrich Petroleum Considers Sale of Eagle Ford Assets - Dec 31, 2014
- Eagle Ford Shale Rig Count Increases by One to 261 - Dec 22, 2014
- Alta Mesa Exits Eagle Ford Shale in $210 Million Deal - Dec 19, 2014