The Eagle Ford Shale rig count increased to 112 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, oil and gas companies continue to continue to buy, sell and take advantage of all opportunities to stay afloat during this lean time.
Read more: Oil & Gas Deals in the Eagle Ford
The U.S. rig count increased by 10, ending with 884 rigs running by midday Friday. A total of 213 rigs were targeting natural gas (four more than the previous week) and 670 were targeting oil in the U.S. (six more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 383 of the rigs active in the U.S. were running in Texas.
Baker Hughes reports its own Eagle Ford Rig Count that covers the 14 core counties. 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
Natural gas rigs in the Eagle Ford fell to 21 this week and natural gas prices traded at $2.10/mmbtu, a $.09 increase from the previous week.
The oil rig count increased to 91 as WTI oil prices dropped again to $44.02, a decrease of $2.89. A total of 102 rigs are drilling horizontal wells, zero are drilling directional wells, and 10 are vertical rigs. Karnes continues to lead development this week running 20 rigs, with DeWitt (18) and Webb (14) follow closely. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale Drilling by Count
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Eagle Ford Shale News
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.
Read more at bakerhughes.com