Eagle Ford Shale Rig Count Decreases by One to 260

Eagle Ford Reaches 1-Billion Barrels Cumulative Liquids Production
Eagle Ford Reaches One Billion Barrels

Eagle Ford Reaches One Billion Barrels

The Eagle Ford Shale rig count decreased by one to 260 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, amidst falling crude prices and dire predictions about the future of the industry, Wood Mackenzie announced that Eagle Ford reached an impressive milestone in November as production topped one billion barrels. Over the past two years, production in the Eagle Ford play has exploded and elevated the area as a major force in the world energy market.

Read more: Eagle Ford Reaches One Billion Barrels of Crude

The U.S. rig count decreased by 27 to 1,893 rigs running by the end of last week. A total of 346 rigs were targeting natural gas (up 2 from the previous week) and 1,546 were targeting oil in the U.S. (29 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  872 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 (204 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 stayed flat at 18 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 flat from the previous week at $3.74/mmbtu on Friday afternoon.

The oil rig count decreased by one to 242 rigs running by the end of last week. WTI oil prices decreased by ~$6.00 from the previous week, trading at $57.99/bbl on Friday afternoon. Eagle Ford light crude traded at $56.50/bbl on December 12th.

A total of 244 rigs are drilling horizontal wells, six rigs are drilling directional wells, and 10 rigs are drilling vertical wells. Karnes, Dimmit, and DeWitt each have at minimum 27 rigs running. Dimmit County has the highest rig count this week at 35. 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 – Every other Weekday or Weekly Email Alerts

Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
DIMMIT 35 35 FAYETTE 3 3
KARNES 35 33 LEE 3 3
DE WITT 27 27 LEON 3 3
MCMULLEN 21 23 AUSTIN 2 2
LA SALLE 24 22 MAVERICK 2 2
WEBB 15 15 BEE 1 1
ATASCOSA 15 14 COLORADO 2 1
BRAZOS 11 12 DUVAL 1 1
GONZALES 12 12 GOLIAD 0 0
BURLESON 12 11 GRIMES 0 0
MADISON 9 11 MILAM 0 0
LAVACA 9 9 ROBERTSON 0 0
FRIO 7 7 WASHINGTON 0 0
LIVE OAK 7 7 WILSON 0 0
ZAVALA 5 6 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 Seven to 261

EIA: Texas is the Largest Producer of Shale Natural Gas
Gross Withdrawls from Shale Gas Wells

Gross Withdrawls from Shale Gas Wells|Click to Enlarge

The Eagle Ford Shale rig count stayed flat at 261 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Texas is the largest producer of shale natural gas, according to a report from the Energy Information Administration (EIA). From 2007 to 2013, shale gas production in Texas increased from 3 bcf/d to 11 bcf/d, with the majority of the shale gas produced coming from the Barnett, Eagle Ford, and Haynesville Shale formations.

Read more: EIA: Texas is Largest Producer of Shale Natural Gas

The U.S. rig count decreased by 3 to 1,920 rigs running by the end of last week. A total of 344 rigs were targeting natural gas (flat from the previous week) and 1,575 were targeting oil in the U.S. (three less 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 (206 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 increased by two to 18 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 fell by ~$.30 from the previous week at $3.70/mmbtu on Friday afternoon.

The oil rig count decreased by nine to 243 rigs running by the end of last week. WTI oil prices increased by ~$3.00 from the previous week, trading at $64.33/bbl on Monday morning. Eagle Ford light crude traded at $62.65/bbl on December 5th.

A total of 245 rigs are drilling horizontal wells, six rigs are drilling directional wells, and 10 rigs are drilling vertical wells. Karnes, Dimmit, and DeWitt each have at minimum 27 rigs running. Dimmit County has the highest rig count this week at 35. 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 – Every other Weekday or Weekly Email Alerts

Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
DIMMIT 37 35 FAYETTE 3 3
KARNES 36 35 LEE 2 3
DE WITT 27 27 LEON 3 3
LA SALLE 24 24 AUSTIN 2 2
MCMULLEN 20 21 COLORADO 3 2
ATASCOSA 13 15 MAVERICK 2 2
WEBB 16 15 BEE 1 1
BURLESON 12 12 DUVAL 1 1
GONZALES 13 12 GOLIAD 0 0
BRAZOS 11 11 GRIMES 0 0
LAVACA 11 9 MILAM 0 0
MADISON 11 9 ROBERTSON 0 0
FRIO 10 7 WASHINGTON 0 0
LIVE OAK 6 7 WILSON 0 0
ZAVALA 4 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.

Eagle Ford Shale Rig Count Stays Flat at 268

IHS: Shale Growth Still Strong, Despite Dip in Oil Prices
Pump Jack Image

Oil Well Pump Jack

The Eagle Ford Shale rig count stayed flat at 268 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, research consultancy IHS Energy reports most shale plays are economic and ~80% of potential drilling in 2015 would remain strong at WTI crude oil prices as low as $70 per barrel.

Now that oil has fallen below $70, it’s likely some operators will decided to cut back their drilling programs for 2015. However, in the vast majority of the Eagle Ford’s liquids-rich areas, break-even oil prices are between $50 – $60 per barrel.

In the Karnes Trough, one of the best areas of the play, analysts predict it would be profitable, even if the price of oil fell into the $40s range.

Read more: IHS: U.S. Shale Growth Still Strong, Despite Lower Oil Prices

The U.S. rig count increased by decreased by 12 to 1,917 rigs running by the end of last week. A total of 344 rigs were targeting natural gas (11 less than the previous week) and 1,572 were targeting oil in the U.S. (two 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 (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 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 stayed flat from the previous week at $4.02/mmbtu on Friday afternoon.

The oil rig count stayed flat at 252 rigs running by the end of last week. WTI oil prices increased by nearly $10.00 from the previous week, trading at $67.48/bbl on Monday morning. Eagle Ford light crude traded at $62.50/bbl on November 28th.

A total of 251 rigs are drilling horizontal wells, seven rigs are drilling directional wells, and 10 rigs are drilling vertical wells. Karnes, Dimmit, and DeWitt 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

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 – Every other Weekday or Weekly Email Alerts

Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
DIMMIT 37 37 COLORADO 3 3
KARNES 36 36 FAYETTE 3 3
DE WITT 27 27 LEON 3 3
LA SALLE 24 24 AUSTIN 2 2
MCMULLEN 20 20 LEE 2 2
WEBB 16 16 MAVERICK 2 2
ATASCOSA 13 13 BEE 1 1
GONZALES 13 13 DUVAL 1 1
BURLESON 12 12 GOLIAD 0 0
BRAZOS 11 11 GRIMES 0 0
LAVACA 11 11 MILAM 0 0
MADISON 11 11 ROBERTSON 0 0
FRIO 10 10 WASHINGTON 0 0
LIVE OAK 6 6 WILSON 0 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 Increases by Three to 268

JPMorgan Settles Eagle Ford Mineral Rights Owners Lawsuit
McMullen County Eagle Ford Shale Map

McMullen County, TX

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

In recent Eagle Ford news, JPMorgan Chase & Co. settled a lawsuit by a group of Texas mineral rights owners in the Eagle Ford Shale.

The lawsuit alleged JP Morgan, as trustee of the South Texas Syndicate (STS) Trust, cheated beneficiaries out of millions of dollars through its’ mis-management of the trust’s oil & gas interests.

Read more: JPMorgan Settles Eagle Ford Shale Case

The U.S. rig count increased by one to 1,929 rigs running by the end of last week. A total of 355 rigs were targeting natural gas (five more than the previous week) and 1,574 were targeting oil in the U.S. (four 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 (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 decreased 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 flat from the previous week at $4.05/mmbtu on Friday afternoon.

The oil rig count increased by four to 252 rigs running by the end of last week. WTI oil prices increased by ~$.40 from the previous week, trading at $76.35/bbl on Friday afternoon. Eagle Ford light crude traded at $73.00/bbl on November 21st.

A total of 251 rigs are drilling horizontal wells, seven rigs are drilling directional wells, and 10 rigs are drilling vertical wells. Karnes, Dimmit, and DeWitt 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

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 – Every other Weekday or Weekly Email Alerts

Eagle Ford Shale Drilling by Count

County Previous Week Current Week County Previous Week Current Week
DIMMIT 37 37 COLORADO 2 3
KARNES 33 36 FAYETTE 3 3
DE WITT 27 27 LEON 3 3
LA SALLE 26 24 AUSTIN 0 2
MCMULLEN 19 20 LEE 3 2
WEBB 16 16 MAVERICK 2 2
ATASCOSA 13 13 BEE 1 1
GONZALES 13 13 DUVAL 1 1
BURLESON 11 12 GOLIAD 0 0
BRAZOS 11 11 GRIMES 0 0
LAVACA 12 11 MILAM 0 0
MADISON 11 11 ROBERTSON 0 0
FRIO 8 10 WASHINGTON 0 0
LIVE OAK 8 6 WILSON 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 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

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 – Every other Weekday or Weekly Email Alerts

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

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 – Every other Weekday or Weekly Email Alerts

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

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 – Every other Weekday or Weekly Email Alerts

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:

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates or sign up for alerts – Every other Weekday or Weekly Email Alerts

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:

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates or sign up for alerts – Every other Weekday or Weekly Email Alerts

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.

MENU