Eagle Ford Shale Rig Count Decreases by Seven to 265

Anadarko Enters Eaglebine JV with KKR & Co. - $442-Million
Anadarko Eaglebine Acreage

Anadarko Eaglebine Acreage|Click to Enlarge

The Eagle Ford Shale rig count decreased by seven to 265 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Woodlands, TX-based Anadarko Corp. entered into a joint venture (JV) with private equity firm KKR & Co. to develop a portion of Anadarko’s East Texas/Eaglebine acreage.

Under the terms of the deal, KKR agreed to carry $442-million of Anadarko’s future capital expenditures in Brazos, Burleson, and Robertson Counties, situated northwest of Houston, TX.

Read more: Anadarko Enters Eaglebine Joint Venture with KKR & Co. – $442-Million

The U.S. rig count increased by three to 1,928 rigs running by the end of last week. A total of 350 rigs were targeting natural gas (six less than the previous week) and 1,578 were targeting oil in the U.S. (10 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  902 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 (208 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 three to 17 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 dropped by $.40 from the previous week to $4.06/mmbtu on Friday afternoon.

The oil rig count decreased by four to 248 rigs running by the end of last week. WTI oil prices decreased by ~$3 from the previous week, trading at $75.97/bbl on Friday afternoon. Eagle Ford light crude traded at $72.75/bbl on Nov. 14th.

A total of 248 rigs are drilling horizontal wells, 9 rigs are drilling directional wells, and 8 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and DeWitt each have at minimum 26 rigs running. Dimmit County has the highest rig count this week at 37. See the full list below in the Eagle Ford Shale Drilling by County below

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Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
DIMMIT 39 37 FAYETTE 4 3
KARNES 33 33 LEE 4 3
DE WITT 28 27 LEON 3 3
LA SALLE 25 26 COLORADO 1 2
MCMULLEN 20 19 MAVERICK 2 2
WEBB 16 16 BEE 1 1
ATASCOSA 12 13 DUVAL 1 1
GONZALES 16 13 WILSON 1 1
LAVACA 9 12 AUSTIN 0 0
BRAZOS 14 11 GOLIAD 0 0
BURLESON 10 11 GRIMES 1 0
MADISON 12 11 MILAM 0 0
FRIO 7 8 ROBERTSON 0 0
LIVE OAK 8 8 WASHINGTON 1 0
ZAVALA 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.

Eagle Ford Shale Rig Count Decreases by Four to 276

Lower Crude Oil Prices Will Slow Down Development In Some Areas of the Play
Eagle Ford Shale Well Map

Eagle Ford Shale Well Map | Click to Enlarge

The Eagle Ford Shale rig count decreased by four to 272 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, lower commodities prices for crude oil aren’t likely to stop new drilling in the Eagle Ford. With breakeven oil prices between $50 – $60 per barrel, in certain liquids-rich areas of the play, operators will continue to drill, even if prices inch closer to this range.

Should prices drop to $70 per barrel, experts believe the Eagle Ford will likely experience a slowdown, but not an all out bust. And some producers will fare better than others, depending on their position.

Read moreWorried About Oil Prices? Here’s What to Expect in the Eagle Ford

The U.S. rig count decreased by four to 1,925 rigs running by the end of last week. A total of 356 rigs were targeting natural gas (ten more than the previous week) and 1,568 were targeting oil in the U.S. (14 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  906 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 (212 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 20 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 rose by $.58 from the previous week to $4.46/mmbtu on Friday afternoon.

The oil rig count decreased by seven to 252 rigs running by the end of last week. WTI oil prices decreased by ~$1.50 from the previous week, trading at $78.95/bbl on Friday afternoon. Eagle Ford light crude traded at $74.25/bbl on Nov. 6th.

A total of 252 rigs are drilling horizontal wells, 13 rigs are drilling directional wells, and 7 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and DeWitt each have at minimum 25 rigs running. Dimmit County has the highest rig count this week at 39. See the full list below in the Eagle Ford Shale Drilling by County below

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Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
DIMMIT 37 39 LEE 4 4
KARNES 35 33 ZAVALA 4 4
DE WITT 23 28 LEON 3 3
LA SALLE 27 25 MAVERICK 3 2
MCMULLEN 23 20 BEE 1 1
GONZALES 17 16 COLORADO 1 1
WEBB 17 16 DUVAL 0 1
BRAZOS 13 14 GRIMES 1 1
ATASCOSA 15 12 WASHINGTON 1 1
MADISON 12 12 WILSON 1 1
BURLESON 10 10 AUSTIN 0 0
LAVACA 9 9 GOLIAD 0 0
LIVE OAK 7 8 MILAM 0 0
FRIO 8 7 ROBERTSON 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.

Eagle Ford Shale Rig Count Increases by 1 to 276

Carrizo Oil & Gas Acquires 6,820 Net Eagle Ford Acres for $250-Million
Carrizo Eagle Ford Acreage Map

Carrizo Eagle Ford Acreage Map|Click to Enlarge

The Eagle Ford Shale rig count increased by one to 276 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Houston-based Carrizo Oil & Gas, Inc., has closed its $250-million Eagle Ford acquisition of 6,820 net Eagle Ford acres from Eagle Ford Minerals, LLC, for $250-million. The deal represents a ~25% working interest in the acquired properties, where Carrizo was already the operator. At closing, Carrizo assumed 100% of the working interest in the assets.

Read more: Carrizo Acquires Eagle Ford Working Interest 

The U.S. rig count increased by two to 1,929 rigs running by the end of last week. A total of 346 rigs were targeting natural gas (fourteen more than the previous week) and 1,582 were targeting oil in the U.S. (13 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  901 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 (218 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 17 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 increased by $.27 from the previous week to $3.88/mmbtu on Friday afternoon.

The oil rig count stayed flat at 259 rigs running by the end of last week. WTI oil prices decreased by ~$.60 from the previous week, trading at $80.58/bbl on Friday afternoon. Eagle Ford light crude traded at $77.50/bbl on Oct. 30th.

A total of 251 rigs are drilling horizontal wells, 15 rigs are drilling directional wells, and 10 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and McMullen each have at minimum 27 rigs running. Dimmit County has the highest rig count this week at 37. See the full list below in the Eagle Ford Shale Drilling by County below

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Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
DIMMIT 36 37 LEE 4 4
KARNES 37 35 ZAVALA 3 4
LA SALLE 26 27 LEON 3 3
DE WITT 21 23 MAVERICK 2 3
MCMULLEN 25 23 BEE 1 1
GONZALES 17 17 COLORADO 1 1
WEBB 17 17 GRIMES 1 1
ATASCOSA 14 15 WASHINGTON 1 1
BRAZOS 13 13 WILSON 1 1
MADISON 13 12 AUSTIN 0 0
BURLESON 9 10 DUVAL 0 0
LAVACA 10 9 GOLIAD 0 0
FRIO 9 8 MILAM 0 0
LIVE OAK 7 7 ROBERTSON 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.

Carrizo Acquires Eagle Ford Working Interest – $250-Million

Deal Includes 6,820 Net Acres in LaSalle, Atascosa, and McMullen Counties
Carrizo Eagle Ford Acreage Map

Carrizo Eagle Ford Acreage Map|Click to Enlarge

Houston-based Carrizo Oil & Gas, Inc., has closed its $250-million Eagle Ford acquisition of 6,820 net Eagle Ford acres from Eagle Ford Minerals, LLC, for $250-million. The deal represents a ~25% working interest* in the acquired properties, where Carrizo was already the operator. At closing, Carrizo assumed 100% of the working interest in the assets.

The acreage includes leaseholds and producing interests, and is located primarily in the oil window of the play, in LaSalle, Atascosa, and McMullen Counties. Net production from the acquired assets in the third-quarter was approximately 2,670 boe/d, with an 85% oil cut.

S.P. “Chip” Johnson, IV, Carrizo’s President and CEO, said, “while Carrizo has not historically been active in the acquisition of producing properties, we felt this was a perfect deal for the company. The acquisition adds an incremental 25% working interest in three of our four highest-return areas within the Eagle Ford Shale, and adds a significant amount of undrilled potential in addition to the existing production.”

The acquisition increases Carrizo’s Eagle Ford position to more than 81,000 net acres, and its drilling inventory in the play by 93 net wells to more than 915 net locations. At the end of September, Carrizo estimated net proved reserves associated with the acquisition to be 16.7 MMBoe (82% oil).

The transaction was completed on October 24, 2014, with an effective date of October 1, 2014. At closing, Carrizo paid approximately $93 million, with the remaining $150 million to be paid by February 2015.

Working Interest* – whosoever owns the working interest is liable for a portion of the ongoing costs associated with exploration, drilling and production. Working interest owner(s) also fully participate in the profits of any successful wells.

Read more at carrizo.com

Eagle Ford Shale Rig Count Increases by Six to 275

Eagle Ford-Focused Sanchez Energy Stock Dips, Despite Good Q3 Production
Sanchez Upper Eagle Ford Wells Production Rates

Sanchez Upper Eagle Ford Wells Production Rates|Click to Enlarge

The Eagle Ford Shale rig count increased by six to 275 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, amid a drop in oil prices, Eagle Ford-focused Sanchez Energy, has seen a sharp dip in its stock price, falling nearly 35% in the past month to ~$18.50. According to the investment research firm, Zacks, the Houston-based company’s earning picture suggests the slump may continue.

Despite its 30-day earnings consensus moving lower over the last 30-days, Sanchez returned excellent third quarter production results.

Read more: Sanchez Energy Stock Dips, Despite Good Q3 Production

The U.S. rig count increased by 9 to 1,927 rigs running by the end of last week. A total of 332 rigs were targeting natural gas (four more than the previous week) and 1,595 were targeting oil in the U.S. (5 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  906 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 (216 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 three to 16 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 decreased by $.16 from the previous week to $3.61/mmbtu on Friday afternoon.

The oil rig count increased by nine to 259 rigs running by the end of last week. WTI oil prices decreased by ~$2.00 from the previous week, trading at $81.08/bbl on Friday afternoon. Eagle Ford light crude traded at $78.75/bbl on Oct. 24th.

A total of 248 rigs are drilling horizontal wells, 15 rigs are drilling directional wells, and 12 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and McMullen 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:

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Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
KARNES 36 37 LEE 4 4
DIMMIT 33 36 LEON 3 3
LA SALLE 25 26 ZAVALA 3 3
MCMULLEN 24 25 MAVERICK 2 2
DE WITT 21 21 BEE 1 1
GONZALES 15 17 COLORADO 1 1
WEBB 18 17 GRIMES 1 1
ATASCOSA 13 14 WASHINGTON 0 1
BRAZOS 13 13 WILSON 1 1
MADISON 14 13 AUSTIN 0 0
LAVACA 11 10 DUVAL 0 0
BURLESON 10 9 GOLIAD 0 0
FRIO 9 9 MILAM 0 0
LIVE OAK 8 7 ROBERTSON 0 0
FAYETTE 3 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.

Eagle Ford Shale Rig Count Stays Flat at 269

Bloomberg: Reliance Industries Seeks Buyer for its Interest in Eagle Ford Joint Venture
Pioneer Natural Resources' Production Chart

Pioneer Natural Resources’ Eagle Ford Production Chart | Click to Enlarge

The Eagle Ford Shale rig count stayed flat at 269 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, India’s Reliance Industries is looking for a buyer for its interest in a three-way joint Eagle Ford joint venture, according to Bloomberg, which cited “people familiar with the matter.” The other players in the JV are Irving, Texas-based Pioneer Natural Resources Co. and a division of Mexico’s Alfa SAB de CV – Newpek, LLC.

Read more: Reliance Industries Seeks Buyer for Eagle Ford JV Interest

The U.S. rig count decreased by 12 to 1,918 rigs running by the end of last week. A total of 328 rigs were targeting natural gas (eight more than the previous week) and 1,590 were targeting oil in the U.S. (19 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  898 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 (209 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 19 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 decreased by ~$.10 from the previous week to $3.77/mmbtu on Friday afternoon.

The oil rig count decreased by three to 250 rigs running by the end of last week. WTI oil prices decreased by less than $1.00 from the previous week, trading at $83.15/bbl on Friday afternoon. Eagle Ford light crude traded at $79.25/bbl on Oct. 16th.

A total of 242 rigs are drilling horizontal wells, 12 rigs are drilling directional wells, and 15 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and McMullen each have at minimum 26 rigs running. Karnes County has the highest rig count this week at 36. See the full list below in the Eagle Ford Shale Drilling by County below

South Texas Oil & Gas News:

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Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
KARNES 38 36 FAYETTE 4 3
DIMMIT 33 33 LEON 4 3
LA SALLE 26 25 ZAVALA 4 3
MCMULLEN 26 24 MAVERICK 1 2
DE WITT 21 21 BEE 1 1
WEBB 19 18 COLORADO 1 1
GONZALES 15 15 GRIMES 1 1
MADISON 14 14 WILSON 1 1
ATASCOSA 12 13 AUSTIN 0 0
BRAZOS 13 13 DUVAL 0 0
LAVACA 12 11 GOLIAD 0 0
BURLESON 6 10 MILAM 0 0
FRIO 7 9 ROBERTSON 1 0
LIVE OAK 7 8 WASHINGTON 0 0
LEE 2 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.

Eagle Ford Shale Rig Count Increases by Two to 269

Rare Lizard Has Potential to Disrupt Eagle Ford Development
Spot Tailed Earless Lizard

Spot Tailed Earless Lizard

The Eagle Ford Shale rig count increased by two to 269 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, a rare lizard, once spread across portions of the Eagle Ford region, has largely vanished, according to the San Antonio Express News. And now the species has the potential to disrupt oil & gas development in the region, if it is designated as threatened or endangered by the U.S. Fish & Wildlife Service (USFW), under the endangered species act (ESA).

Read more: Could a Lizard Disrupt Eagle Ford Development

The U.S. rig count increased by eight to 1,930 rigs running by the end of last week. A total of 320 rigs were targeting natural gas (ten less than the previous week) and 1,609 were targeting oil in the U.S. (18 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  896 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 (210 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 stayed flat at 16 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 decreased by ~$.15 from the previous week to $3.86/mmbtu on Friday afternoon.

The oil rig count increased by two to 253 rigs running by the end of last week. WTI oil prices decreased by more than $5.00 from the previous week, trading at $84.72/bbl on Friday afternoon. Eagle Ford light crude traded at $82.25/bbl on Oct. 9th.

A total of 243 rigs are drilling horizontal wells, ten rigs are drilling directional wells, and 16 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and McMullen 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:

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Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
KARNES 37 37 LEON 4 4
DIMMIT 28 29 ZAVALA 5 4
LA SALLE 26 28 LEE 4 2
MCMULLEN 23 24 WILSON 3 2
DE WITT 21 22 BEE 1 1
WEBB 22 22 COLORADO 1 1
GONZALES 15 15 GRIMES 3 1
MADISON 13 15 MAVERICK 0 1
BRAZOS 11 13 ROBERTSON 1 1
ATASCOSA 13 11 AUSTIN 0 0
LAVACA 12 11 DUVAL 0 0
FRIO 6 7 GOLIAD 1 0
LIVE OAK 7 7 MILAM 0 0
BURLESON 6 5 WASHINGTON 1 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.

Eagle Ford Shale Rig Count Decreases by One to 267

Atlas Resource Partners Enters Eagle Ford in $225 Million Deal
Atascosa County Eagle Ford Shale Map

Atascosa County, TX

The Eagle Ford Shale rig count decreased by one to 267 rigs running across our coverage area by the end of last week.

In recent news,Pittsburgh-based Atlas Resource Partners (ARP) is entering the Eagle Ford in a $225-million deal. ARP will acquire 22 producing wells and 19 undeveloped locations containing estimated net reserves of 12-million BOE, according to company officials. The seller was not disclosed.

Read more: Atlas Resource Partners Enters Eagle Ford – $225 Million Deal

The U.S. rig count decreased by nine to 1,922 rigs running by the end of last week. A total of 330 rigs were targeting natural gas (eight less than the previous week) and 1,591 were targeting oil in the U.S. (1 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  895 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 (210 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 16 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 $4.02/mmbtu on Friday afternoon.

The oil rig count decreased by two to 251 rigs running by the end of last week. WTI oil prices stayed relatively flat from the previous week, trading at $90.15/bbl on Friday afternoon. Eagle Ford light crude traded at $87.50/bbl on Oct. 2nd.

A total of 244 rigs are drilling horizontal wells, eight rigs are drilling directional wells, and 15 rigs are drilling vertical wells. Karnes, La Salle, and Dimmit each have at minimum 28 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 LEON 4 4
DIMMIT 28 29 ZAVALA 5 4
LA SALLE 26 28 LEE 4 2
MCMULLEN 23 24 WILSON 3 2
DE WITT 21 22 BEE 1 1
WEBB 22 22 COLORADO 1 1
GONZALES 15 15 GRIMES 3 1
MADISON 13 15 MAVERICK 0 1
BRAZOS 11 13 ROBERTSON 1 1
ATASCOSA 13 11 AUSTIN 0 0
LAVACA 12 11 DUVAL 0 0
FRIO 6 7 GOLIAD 1 0
LIVE OAK 7 7 MILAM 0 0
BURLESON 6 5 WASHINGTON 1 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.

Eagle Ford Shale Rig Count Increases by Four to 268

UTSA: Eagle Ford Shale Economic Impact $87 Billion in 2013
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
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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.

Cabot Grabs More Eagle Ford Acreage in Oil Window

$210 Million Deal Includes 30,000 Net Acres
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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