Eagle Ford Shale Play http://eaglefordshale.com News, MarketPlace, Jobs Mon, 29 Sep 2014 14:00:10 +0000 en-US hourly 1 http://wordpress.org/?v=4.0 Eagle Ford Shale Rig Count Increases by Four to 268 http://eaglefordshale.com/drilling-rig-count/eagle-ford-shale-rig-count-increases-by-four-to-268/ http://eaglefordshale.com/drilling-rig-count/eagle-ford-shale-rig-count-increases-by-four-to-268/#respond Mon, 29 Sep 2014 14:00:10 +0000 http://eaglefordshale.com/?p=6770 Eagle Ford Shale Core Counties

Eagle Ford Shale Core Counties|Click to Enlarge

The Eagle Ford Shale rig count increased by four to 268 rigs running across our coverage area by the end of last week.

In recent news, The Eagle Ford Shale had an economic impact of $87-billion in 2013, according to the University of Texas at San Antonio. That’s up significantly from 2012 when university researchers determined the oilfield had a $61-billion impact.

Read more: UTSA: Eagle Ford Shale Economic Impact – $87 Billion

The U.S. rig count stayed flat at 1,931 rigs running by the end of last week. A total of 338 rigs were targeting natural gas (nine more than the previous week) and 1,592 were targeting oil in the U.S. (9 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  897 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 (207 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 three to 15 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 increase by ~ $.15 from the previous week at $3.99/mmbtu on Friday afternoon.

The oil rig count increased by one to 253 rigs running by the end of last week. WTI oil prices stayed relatively flat from the previous week, trading at $93.47/bbl on Friday afternoon. Eagle Ford light crude traded at $89.00/bbl on Sept. 25th.

A total of 247 rigs are drilling horizontal wells, nine rigs are drilling directional wells, and 12 rigs are drilling vertical wells. Karnes, La Salle, and Dimmit each have at minimum 25 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 FAYETTE 4 4
DIMMIT 25 28 LEE 4 4
LA SALLE 28 26 LEON 3 4
MCMULLEN 24 23 GRIMES 2 3
WEBB 20 22 WILSON 3 3
DE WITT 22 21 BEE 1 1
GONZALES 15 15 COLORADO 1 1
ATASCOSA 13 13 GOLIAD 1 1
MADISON 14 13 ROBERTSON 1 1
LAVACA 11 12 WASHINGTON 1 1
BRAZOS 11 11 AUSTIN 0 0
LIVE OAK 7 7 DUVAL 0 0
BURLESON 6 6 MAVERICK 0 0
FRIO 7 6 MILAM 0 0
ZAVALA 3 5 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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UTSA: Eagle Ford Shale Economic Impact – $87 Billion http://eaglefordshale.com/news/utsa-eagle-ford-shale-economic-impact-87-billion/ http://eaglefordshale.com/news/utsa-eagle-ford-shale-economic-impact-87-billion/#respond Fri, 26 Sep 2014 14:00:13 +0000 http://eaglefordshale.com/?p=6761 Eagle Ford Shale Core Counties

Eagle Ford Shale Core Counties|Click to Enlarge

The Eagle Ford Shale had an economic impact of $87-billion in 2013, according to the University of Texas at San Antonio. That’s up significantly from 2012 when university researchers determined the oilfield had a $61-billion impact.

Read more: Economic Impact of the Eagle Ford Hits $61 Billion in 2012

Estimates of the Eagle Ford’s overall economic impact for the 21-county area included in the study exceeded $137-billion for 2023. That’s much higher than the 2022 forecast of $89-billion reported in the previous report. The basis for this increase researchers say has to do with the exceptional production numbers in the Eagle Ford. This month, the U.S. Energy Information Administration (EIA) predicts the Eagle Ford Shale will produce 1.51-million b/d crude oil. By 2020, consultancy Wood Mackenzie predicts production will rise to 2-million b/d. Advancements in well completions, and practices such as infill drilling will likely have an impact on production as operators continue to apply new and innovative techniques to access Eagle Ford reserves.

Read more: Eagle Ford Production Will Hit 1.5 Million b/d – Sept. 2014

In addition, new manufacturing projects associated with the natural gas renaissance in the U.S., as well as new processing, refining and port facilities are factors driving increases in the economic impact statistics. Just last week, the Environmental Protection Agency (EPA) gave a subsidiary of Conneticut-based Castleton Commodities International the green light for the construction of new petroleum process facilities near Corpus Christi, TX. The price tag for the project is estimated at $500-million.

Read more: EIA Grants Permit for $500 Million Corpus Christi Condensate Splitter

The study calculated the direct economic effects of oil and gas exploration, and “induced” economic activity. Stay tuned to EagleFordShale for further details and analysis of the study.

Read more at iedtexas.org

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Cabot Grabs More Eagle Ford Acreage in Oil Window http://eaglefordshale.com/news/cabot-grabs-more-eagle-ford-acreage-in-oil-window/ http://eaglefordshale.com/news/cabot-grabs-more-eagle-ford-acreage-in-oil-window/#respond Wed, 24 Sep 2014 15:39:20 +0000 http://eaglefordshale.com/?p=6758 Cabot Eagle Ford & Pearsall Shale Map

Cabot Eagle Ford & Pearsall Shale Map | Click to Enlarge

Houston-based Cabot Oil & Gas Corp. has agreed to pay $210-million for approximately 30,000 net acres in the heart of the Eagle Ford Shale oil window from an undisclosed seller. 17,000 net acres included in the transaction are directly adjacent to Cabot’s Buckhorn operating area, which covers parts of Frio, La Salle and Atascosa Counties. The acquisition increases the company’s total Buckhorn leasehold position to 60,000 net acres, and its total Eagle Ford position to 83,000 net acres.

Cabot is currently testing 300-foot downspacing across its existing Buckhorn position, which company officials say will add an additional 45 net locations on the acquired leasehold. As a result of this recent transaction, Cabot has added a fourth operated rig in the Eagle Ford to begin drilling on the newly acquired properties. In May, the company indicated it would expand its Eagle Ford drilling program in the third quarter of this year.

Read moreCabot Oil & Gas to Expand Eagle Ford Drilling Program

“In addition to the number of new locations, this acreage will allow synergies in our operations on many fronts including infrastructure and facility utilization,” said Cabot President and CEO Dan O. Dinges.

According to Cabot officials. the assets are producing approximately 1,600 boe/d (92% liquids). Based on the company’s current spacing configuration of 400 fteet between laterals, Cabot has identified 191 net locations on the additional Buckhorn area acreage with an average lateral length of over 6,500 feet.

The transaction is expected to close in October 2014.

Read more at cabotog.com

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Eagle Ford Shale Rig Count Increases by One to 264 http://eaglefordshale.com/drilling-rig-count/eagle-ford-shale-rig-count-increases-by-one-to-264/ http://eaglefordshale.com/drilling-rig-count/eagle-ford-shale-rig-count-increases-by-one-to-264/#respond Mon, 22 Sep 2014 14:00:02 +0000 http://eaglefordshale.com/?p=6737 Oil Tanker Leaving Port of Corpus Christi

Empty Oil Tanker Leaving Port of Corpus Christi – Click to Enlarge

The Eagle Ford Shale rig count increased by one to 264 rigs running across our coverage area by the end of last week.

In recent news, the Environmental Protection Agency (EPA) has given a subsidiary of Conneticut-based Castleton Commodities International the green light for the construction of new petroleum process facilities near Corpus Christi, TX. The EPA issued the final greenhouse gas and prevention of significant deterioration construction permit to the subsidiary, CCI Corpus Christi, LLC, on Sept. 15th.

The company plans to build two fractionation units, capable of producing a combined 100,000 b/d and a bulk petroleum terminal. The terminal will include storage tanks and barge loading operations that can handle 500,000 barrels a day of crude condensate for export.

Read more: EPA Grants Permit for $500 Million Corpus Christi Condensate Splitter

The U.S. rig count stayed flat at 1,931 rigs running by the end of last week. A total of 329 rigs were targeting natural gas (nine less than the previous week) and 1,601 were targeting oil in the U.S. (9 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  900 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 (205 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 12 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 $3.84/mmbtu on Friday afternoon.

The oil rig count stayed flat at 252 rigs running by the end of last week. WTI oil prices stayed relatively flat from the previous week, trading at $92.48/bbl on Friday afternoon. Eagle Ford light crude traded at $89.00/bbl on Sept. 19th.

A total of 246 rigs are drilling horizontal wells, eight rigs are drilling directional wells, and ten rigs are drilling vertical wells. Karnes, La Salle, and Dimmit each have at minimum 25 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 38 37 LEE 3 4
LA SALLE 28 28 LEON 3 3
DIMMIT 25 25 WILSON 3 3
MCMULLEN 24 24 ZAVALA 3 3
DE WITT 23 22 GRIMES 2 2
WEBB 21 20 BEE 1 1
GONZALES 12 15 COLORADO 1 1
MADISON 12 14 GOLIAD 1 1
ATASCOSA 13 13 ROBERTSON 2 1
BRAZOS 12 11 WASHINGTON 1 1
LAVACA 11 11 AUSTIN 0 0
FRIO 5 7 DUVAL 2 0
LIVE OAK 7 7 MAVERICK 0 0
BURLESON 6 6 MILAM 0 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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Eagle Ford Sand Grab Underway http://eaglefordshale.com/news/eagle-ford-sand-grab-underway/ http://eaglefordshale.com/news/eagle-ford-sand-grab-underway/#respond Fri, 19 Sep 2014 17:08:16 +0000 http://eaglefordshale.com/?p=6734 Frack Sand Storage

Click to Enlarge

At the onset of the Eagle Ford boom, the biggest priority was getting skin in the game. Now, rather than a land grab, the next big thing may be a sand grab.

Next month, the EIA predicts the Eagle Ford will reach oil production of $1.5-million bbls/d, but according to the Houston Chronicle, 95% of the oil and gas is left behind, despite the high production numbers. With those statistics, operators are motivated to find ways to recover these hydrocarbons. One method already being applied is the use of copious amounts of sand in well completions, in order to further stimulate the well during the fracking process.

The use of sand in well completions stands to greatly benefit companies that supply sand to operators. Sand miner US Silica Holdings Inc. said its demand could triple over the next five years, according to Reuters. Thousands of tons of sand are used to frack just one well.

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Texas GLO Adds $1.26-Billion to Fund for Public Schools http://eaglefordshale.com/news/texas-glo-adds-1-26-billion-to-fund-for-public-schools/ http://eaglefordshale.com/news/texas-glo-adds-1-26-billion-to-fund-for-public-schools/#respond Thu, 18 Sep 2014 16:29:35 +0000 http://eaglefordshale.com/?p=6726 Wellhead Image

Wellhead

The Texas General Land Office (GLO) said this week $1.26-billion generated from the state’s oil and gas activity will go to a fund to help support K-12 public education, according to a report in the San Antonio Express News. Texas draws this revenue from state-owned lands, which are leased to companies that conduct oil & gas operations on these properties.

Three primary areas (the Permian Basin, Barnett Shale and Eagle Ford Shale) are responsible for the recent oil & gas activity, but the funds won’t be re-injected wholly into communities in these development areas. The way it works is the Permanent School Fund, currently valued at $34-billion, generates interest, and only the interest is allowed to be distributed to schools. According to the Texas GLO website, funds are doled out by the State Board of Education on a per-pupil basis across the state. Many Eagle Ford area school districts have benefited more directly from income drawn from other sources of revenue, including state tax revenue and municipal property taxes.

The problem several school districts in the Eagle Ford region are facing isn’t necessarily a lack of state or local funds, but overcrowding, as workers chasing Eagle Ford oil jobs, along with their families, add to the population of cities and towns in the region. Another issue un-related to schools, and perhaps a more concerning one for many locals in certain areas of the Eagle Ford region, is a lack of funding from the state for adequate road repairs.

Read more: Eagle Ford Boom Bad News for County Roads – KENS-TV – video

Ultimately, the modern Texas oil boom has brought the entire state of Texas many good things, but all of it hasn’t been good, and sometimes for local communities feeling the greatest impact of the boom, it hasn’t always been fair. As with most things in life, people learn to take the good with the bad.

Read more at expressnews.com

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Buckeye Partners Closes Deal for Eagle Ford Assets http://eaglefordshale.com/pipeline-midstream-news/buckeye-partners-closes-deal-for-eagle-ford-assets/ http://eaglefordshale.com/pipeline-midstream-news/buckeye-partners-closes-deal-for-eagle-ford-assets/#respond Wed, 17 Sep 2014 15:04:41 +0000 http://eaglefordshale.com/?p=6723 Trafigura Terminals Eagle Ford Port in Corpus Christi

Trafigura Terminals’ Eagle Ford Port in Corpus Christi | Click to Enlarge

Buckeye Partners, L.P. has closed its $860-million transaction with Trafigura AG’s South Texas Eagle Ford midstream assets.

The transaction creates a new joint venture – Buckeye Texas Partners. The new company will own and operate the divested Trafigura assets, but Trafigura will retain a 20% interest and have joint ownership of the new company. Both companies announced the acquisition and divestiture agreement earlier this month.

Read more: Buckeye Buys Eagle Ford Facilities – $860 Million

Buckeye Texas Partners will invest appoximately $240-million – $270-million on improvements to the system, increasing its liquid petroleum products storage capacity to 5.6-million barrels. A 50,000 barrel per day condensate splitter is currently under construction and is anticipated to be completed by mid-2015.

Buckeye Partners CEO Clark Smith, said in a prepared statement, “once the initial phase of expansion is complete, these assets will form an integrated system with connectivity from the production in the field to the marine terminal infrastructure in Corpus Christi, creating a logistics platform with significant flexibility and optionality.”

Read more at buckeye.com

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EPA Grants Permit for $500 Million Corpus Christi Condensate Splitter http://eaglefordshale.com/pipeline-midstream-news/epa-grants-permit-for-500-million-corpus-christi-condensate-splitter/ http://eaglefordshale.com/pipeline-midstream-news/epa-grants-permit-for-500-million-corpus-christi-condensate-splitter/#respond Tue, 16 Sep 2014 14:55:08 +0000 http://eaglefordshale.com/?p=6720 Oil Tanker Leaving Port of Corpus Christi

Empty Oil Tanker Leaving Port of Corpus Christi – Click to Enlarge

The Environmental Protection Agency (EPA) has given a subsidiary of Conneticut-based Castleton Commodities International the green light for the construction of new petroleum process facilities near Corpus Christi, TX. The EPA issued the final greenhouse gas and prevention of significant deterioration construction permit to the subsidiary, CCI Corpus Christi, LLC, on Sept. 15th.

The company plans to build two fractionation units, capable of producing a combined 100,000 b/d and a bulk petroleum terminal. The terminal will include storage tanks and barge loading operations that can handle 500,000 barrels a day of crude condensate for export.

Castleton hopes to get some skin in the condensate export game, according to the EPA, but will need additional approval from the federal government. So far, only two companies, Pioneer Natural Resources Co. and Enterprise Product Partners LP, have been authorized to export minimally processed condensate from the Eagle Ford Shale. More than half of all production from play is condensate, which is an ultralight crude oil.

Read more: Oil Exports to Foreign Buyers Begins

In addition to exporting product, Castleton also plans to use the crude condensate to produce diesel, jet fuel, naphtha, and other petroleum products. The project is expected to cost the company $500-million.

Read more at epa.gov

 

 

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Eagle Ford Shale Rig Count Stays Flat at 263 http://eaglefordshale.com/drilling-rig-count/eagle-ford-shale-rig-count-stays-flat-at-263/ http://eaglefordshale.com/drilling-rig-count/eagle-ford-shale-rig-count-stays-flat-at-263/#respond Mon, 15 Sep 2014 16:14:32 +0000 http://eaglefordshale.com/?p=6709 Eagle Ford Contour Map

Eagle Ford Depth Map | Click to Enlarge

The Eagle Ford Shale rig count stayed flat at 263 rigs running across our coverage area by the end of last week.

In recent news, the U.S. Geological Survey (USGS) confirmed a 3.2 magnitude earthquake last week, two miles southeast of Charlotte, TX in Atascosa County, which is almost entirely in the liquids-rich or oil window of the Eagle Ford Shale. Last week, 13 active rigs were running in the area.

According to the USGS, there is evidence that some central and eastern North American earthquakes have been triggered or caused by human activities that have altered the stress conditions in earth’s crust. The cause of this most recent quake is unknown; however, in the Eagle Ford Shale and other areas for oil & gas development in Texas, a link has been made between waste water disposal/injection wells and seismic activity.

Read more: Eagle Ford Earthquake – Video

The U.S. rig count increased by six to 1,931 rigs running by the end of last week. A total of 338 rigs were targeting natural gas (two more than the previous week) and 1,592 were targeting oil in the U.S. (8 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  905 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 (203 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 decreased by two to 11 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 $3.94/mmbtu on Friday afternoon.

The oil rig count increased by 2 to 252 rigs running by the end of last week. WTI oil prices decreased slightly from the previous week, trading at $92.34/bbl on Friday afternoon. Eagle Ford light crude traded at $88.75/bbl on Sept. 12th.

A total of 246 rigs are drilling horizontal wells, seven rigs are drilling directional wells, and ten rigs are drilling vertical wells. Karnes, La Salle, De Witt, and Webb each have at minimum 25 rigs running. Karnes County has the highest rig count this week at 38. 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 33 38 LEE 3 3
LA SALLE 30 28 LEON 3 3
DIMMIT 22 25 WILSON 3 3
MCMULLEN 20 24 ZAVALA 3 3
DE WITT 26 23 DUVAL 2 2
WEBB 26 21 GRIMES 2 2
ATASCOSA 13 13 ROBERTSON 3 2
BRAZOS 11 12 BEE 0 1
GONZALES 11 12 COLORADO 1 1
MADISON 12 12 GOLIAD 1 1
LAVACA 10 11 WASHINGTON 1 1
LIVE OAK 8 7 AUSTIN 0 0
BURLESON 7 6 MAVERICK 0 0
FRIO 7 5 MILAM 0 0
FAYETTE 5 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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Eagle Ford Earthquake – Video http://eaglefordshale.com/news/eagle-ford-earthquake-video/ http://eaglefordshale.com/news/eagle-ford-earthquake-video/#comments Fri, 12 Sep 2014 14:47:25 +0000 http://eaglefordshale.com/?p=6685 The U.S. Geological Survey (USGS) confirmed a 3.2 magnitude earthquake on Wednesday, two miles southeast of Charlotte, TX in Atascosa County, which is almost entirely in the liquids-rich or oil window of the Eagle Ford Shale. Last week, 13 active rigs were running in the area.

According to the USGS, there is evidence that some central and eastern North American earthquakes have been triggered or caused by human activities that have altered the stress conditions in earth’s crust. The cause of this most recent quake is unknown; however, in the Eagle Ford Shale and other areas for oil & gas development in Texas, a link has been made between waste water disposal/injection wells and seismic activity.

Injection wells are necessary to the fracking process, a method by which a well is completed using treated water under extreme pressure. When a well is fracked, it produces flowback or produced water that must be disposed of properly in waste water disposal/injection wells deep underground. Recently, EagleFordShale.com posted a story about new waste water disposal rules that could be put into practice soon in Texas, following a rash of low magnitude earthquakes across the state.

Read more: Could New Waste Water Disposal Rules be Coming in Texas?

EagleFordShale.com Founder Kenny DuBose, said, “there are two primary ways in which the oil and gas industry commonly “ads” energy (pressure) into the ground. That is through hydraulic fracturing and water injection. The industry “subtracts” energy from the ground by producing hydrocarbons and the associated water that generally comes with it. These two forces are constantly opposing and offsetting each other. On a localized basis, at any given point in time, it is possible that the net result of these two forces is great enough (in either direction) to cause small and local trimmers. No doubt many of these are of such short duration and so small that they are never even noticed. Then there are some that make it to the observable and measurable threshold. Local and hyperlocal geology will generally determine the susceptibility of a particular area to these trimmers.”

KABB, the Fox affiliate in San Antonio, ran a story yesterday about the quake that occurred this week. Click on the video below to see their report:

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