The Eagle Ford Shale rig count increased by four to 116 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, Sanchez Energy reported second quarter losses of half a billion dollars and is looking to its Eagle Ford operations to turn things around.
Read more: Sanchez Energy Reports Huge Losses
The U.S. rig count remained flat, ending with 884 rigs running by midday Friday. A total of 211 rigs were targeting natural gas (two less than the previous week) and 672 were targeting oil in the U.S. (two more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 389 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 18 this week and natural gas prices traded at $2.81/mmbtu, a $.10 increase from the previous week.
The oil rig count increased to 98 as WTI oil prices dropped again to $42.13, a decrease of $4.78. A total of 103 rigs are drilling horizontal wells, zero are drilling directional wells, and 13 are vertical rigs. Karnes continues to lead development this week running 21 rigs, with DeWitt (18), McMullen (11) and Webb (11) following behind. 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