Eagle Ford Shale Rig Count Decreases By Four to 263

ConocoPhillips Increases its' Reserve Estimates by 39% to 2.5 billion BOE
ConocoPhillips' Eagle Ford Geologic Map

ConocoPhillips’ Eagle Ford Geologic Map

The Eagle Ford Shale rig count decreased by four to 263 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, ConocoPhillips increased its Eagle Ford reserve estimates in early April 2014 by 39% from 1.8 billion to 2.5 billion bbls of oil in place. Company officials say production is expected to exceed 250,000 boe/d in the Eagle Ford by 2017. That’s nearly 100,000 more BOE than the company’s target goal at the end of 2013.

Read more: ConocoPhillips Raises Eagle Ford Reserve Estimates By 39% to 2.5 Billion BOE

The U.S. rig count stayed flat at 1831 rigs running by the end of last week. A total of 316 rigs were targeting natural gas (6 more than the previous week) and 1,510 were targeting oil in the U.S. (7 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  884 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 (217 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 remained flat at 16 rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Natural gas prices stayed relatively flat from last week at $4.76/mmbtu on Friday afternoon.

The oil rig count decreased by 4 to 247 rigs running by the end of last week. WTI oil prices increased slightly, trading at $104.35/bbl on Friday afternoon. Eagle Ford light crude traded at $100.75/bbl on April 17th.

A total of 229 rigs are drilling horizontal wells, 21 rigs are drilling directional wells, and 13 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, McMullen and Webb counties each have at minimum 25 rigs running. Karnes County has the highest rig count this week at 29. See the full list below in the Eagle Ford Shale Drilling by County:

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 30 29 WILSON 4 4
LA SALLE 27 27 FAYETTE 3 3
MCMULLEN 27 27 GRIMES 3 3
WEBB 23 26 LEE 3 2
DIMMIT 28 25 COLORADO 1 2
DE WITT 23 23 LEON 1 1
ATASCOSA 16 16 WASHINGTON 1 1
LIVE OAK 16 15 AUSTIN 0 0
GONZALES 11 12 BEE 0 0
LAVACA 11 11 DUVAL 0 0
BURLESON 10 10 GOLIAD 0 0
MADISON 10 9 MAVERICK 0 0
ZAVALA 8 7 MILAM 0 0
FRIO 7 6 ROBERTSON 0 0
BRAZOS 4 4 BASTROP 0 0

Eagle Ford Operated Rig Count By Company

SmithBits no longer reports its operated rig count, but we’ll have updated number for you from a new source soon. Until then, you can reference our numbers from mid-April. There has not been a significant change in the overall rig count since this date:

Operator Name Apr-13
BHP (Petrohawk) 28
EOG Resources 25
Marathon Oil 18
Chesapeake 16
ConocoPhillips 10
Pioneer Natural 10
Anadarko 9
Lewis Petroleum 8
Murphy Oil 7
Plains Exploration 7
Talisman Energy (Statoil) 7
EP Energy 6
Halcon Resources 6
Hunt Oil 6
Swift Energy 6
Rosetta Resources 6
Cabot Oil & Gas 5
SM Energy 5
Shell 4
Carrizo Oil & Gas 3
All Others 50+

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 and/or Smith Service Co’s (Schlumberger) Smith Rig Count.

ConocoPhillips Raises Eagle Ford Reserve Estimates By 39% to 2.5 Billion BOE

250,000 boe/d in Eagle Ford Production Estimated by 2017
ConocoPhillips' Eagle Ford Geologic Map

ConocoPhillips’ Eagle Ford Geologic Map

ConocoPhillips increased its Eagle Ford reserve estimates in early April 2014 by 39% from 1.8 billion to 2.5 billion bbls of oil in place. Company officials say production is expected to exceed 250,000 boe/d in the Eagle Ford by 2017. That’s nearly 100,000 more BOE than the company’s target goal at the end of 2013.

Read more: Conoco Phillips’ Eagle Ford Production Up 58% to 141,000 boe/d in Q4 2013

[Read more…]

Clayton Williams Grew Eagle Ford Oil Production ~430% in Fourth-Quarter of 2013

Eagle Ford Capital Budget - ~$160 Million in 2014
Clayton Williams Eagle Ford Acreage Map

Clayton Williams Eagle Ford Acreage Map | Click to Enlarge

Clayton Williams Energy grew its Eagle Ford oil production in the fourth quarter of 2013 over 2012 by ~430% from 312 b/d – 1,354 b/d.

The increase in production is a sign that the company is gaining confidence in moving forward with its Eagle Ford operations. In an early February 2013 statement, the company alluded that additional drilling and production data would be needed to determine if the Eagle Ford Shale drilling program could be economically viable.

[Read more…]

EOG Resources Increases Eagle Ford Resource Potential by 1 Billion BOE in 2013

EOG Plans on Drilling 520 Net Eagle Ford Wells in 2014
EOG Resources Eagle Ford Acreage Map

EOG Resources Eagle Ford Acreage Map | Click to Enlarge

EOG Resource’s Eagle Ford resource potential went up 45% to 3.2 billion boe from 2.2 billion boe in 2013.

In 2014, EOG will be focusing a large portion of its $8.1 – $8.3 billion capital budget in the Eagle Ford Shale. This decision comes on the heels of increased well productivity and initial production rates in the play in 2013.

The company has plans to drill 520 net wells across its Eagle Ford acreage. At that rate, the company has a drilling inventory in the Eagle Ford of more than 12 years.

Read more: EOG Resources Western Eagle Ford Acreage Looks Better & Better 

[Read more…]

SM Energy Completes 95 Eagle Ford Wells in 2013 – 74,800 boe/d in Fourth Quarter

SM Energy Oil Production Rate Down Slightly for the Fourth-Quarter in the Eagle Ford
SM Energy Eagle Ford Production

SM Energy Eagle Ford Production | Click to Enlarge

SM Energy made 95 flowing completions in its operated Eagle Ford Shale acreage in 2013, with 20 of those completions in the fourth-quarter. 

In non-operated Eagle Ford acreage, the operator completed 84 gross wells in the fourth-quarter. 

The company had production of 74,800 boe/d in the Eagle Ford in the fourth-quarter. Although production was at its highest during this time, there was less oil production.

[Read more…]

ConocoPhillips Eagle Ford Production Up 58% to 141,000 boe/d in Q4 2013

Conoco will spend ~$9 billion on its North American operations in 2014. $4.3 billion will be focused on U.S. shale plays

ConocoPhillips Eagle Ford Map

ConocoPhillips Eagle Ford Map | Click to Enlarge

ConocoPhillips’ Eagle Ford Shale production was 141,000 boe/d in the fourth-quarter of 2013, surpassing fourth quarter 2012 production from the formation by 58%.

The Lower 48 and Latin America accounted for ~28% of the company’s total production.

Read more: Conoco Increasing Eagle Ford Spending in 2014

[Read more…]

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