Three Rigs Dropped Last Week – December 16, 2011

The Eagle Ford Shale drilling rig count fell 3 rigs last week to 256. It was a rough week in the commodities markets. Oil futures prices fell more than $5 (WTI <$94/bbl) and natural gas futures prices (HH<$3.15/mmbtu) continue to fall.

The January contract has fallen more than $0.50 over the past two weeks. Spring weather in Texas this past week isn’t helping the cause. The natural gas rig count fell 3 to a total of 93 rigs. While $3 gas isn’t going to help, the Eagle Ford rig count is more dependent on liquids prices than natural gas.

The number of oil rigs working didn’t change 162. Also, one service well is being drilled in Duval County. 233 of the 256 running (>90%) are drilling horizontal wells.

Webb (35) still leads the region, while Karnes (33), La Salle (31), McMullen (26), Dimmit (22), DeWitt (22), and Gonzales (18) round out the top counties in the area. The only significant change by an operator during the week was EOG who dropped 3 rigs.

News highlighted throughout the play included:

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Drilling Rig Count by Operator


Operator Name Prior Week Current Week
Chesapeake 31 31
EOG Resources 26 23
ConocoPhillips (Burlington) 15 14
Petrohawk (BHP) 14 14
Pioneer Natural Res. 12 12
Lewis Petroleum 12 12
Anadarko 12 11
Talisman 9 10
Marathon (Hilcorp) 8 10
XTO (Exxon) 8 8
All Others 112 111

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
WEBB 37 35 MAVERICK 3 3
KARNES 36 33 COLORADO 2 2
LA SALLE 30 31 DUVAL 2 2
MCMULLEN 22 26 LAVACA 2 2
DEWITT 23 22 LEE 2 2
DIMMIT 24 22 WILSON 2 2
GONZALES 19 18 BEE 0 1
FRIO 11 11 FAYETTE 1 1
LEON 11 11 GRIMES 1 1
LIVE OAK 8 7 MILAM 1 1
ATASCOSA 5 6 AUSTIN 0 0
ROBERTSON 6 6 BASTROP 0 0
ZAVALA 5 5 BRAZOS 1 0
BURLESON 3 3 GOLIAD 0 0
MADISON 2 3 WASHINGTON 0 0
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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

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