The Eagle Ford Shale rig count fell by four, ending the week with 94 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, the Texas Railroad Commission Chairman weighs in on the the congressional vote to repeal oil export ban, saying it is an important step closer to energy independence. Read more: Oil Export Ban on Its Way Out?
A total of 787 were running across the United States this week. 192 rigs were targeting natural gas (three more than the previous week) and 595 were targeting oil in the U.S. (10 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 351 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 below.
Eagle Ford Oil & Gas Rigs
Natural gas rigs in the Eagle Ford are at 12 this week as natural gas prices traded at $2.43/mmbtu, a $.06 decrease from the previous week.
The oil rig count is at 82 and WTI oil prices ended the week at $47.26, a decrease of $2.92 A total of 85 rigs are drilling horizontal wells, two are drilling directional wells, and seven are vertical rigs. Karnes County leads the region in development with 22 rigs this week. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale Drilling by County
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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