Baker Hughes Reports Record Eagle Ford Well Spuds in Q4

Eagle Ford Rigs Are Drilling 1.5 More Wells Per Quarter Than Early 2012
Eagle Ford Well Spuds Q4 2013

Eagle Ford Well Spuds Q4 2013 | Click to Enlarge

Baker Hughes reported a record number of Eagle Ford well starts in the fourth quarter of 2014. The company’s quarterly report shows ~1,171 wells were started over the three month period.

Rigs also drilled 0.5 wells more in the quarter than they did in the third quarter of 2013. That’s an improvement of 40% or 1.5 more wells per quarter per rig than the industry was capable of in early 2012.

We consider the Baker Hughes well start estimate conservative since the company only considers a 14 county area in its Eagle Ford statistics. The numbers reported ignore areas like Brazos County where Eagle Ford activity is increasing. [Read more…]

Eagle Ford Record Set for Well Spuds in Q3

Over 1,100 Wells Started for the First Time in a Three Month Period
Eagle Ford Well Spuds Q3 2013

Well Spuds Q3 2013 | Click to Enlarge

Baker Hughes released its third quarter estimates for well spuds and the Eagle Ford eclipsed 1,100 wells in a single quarter for the first time. The play accounted for 1,133 or more than 10% of the 9,175 wells spud in the U.S. during the quarter.

Baker Hughes tracks the 14 core counties when evaluating the play, so actual numbers are higher. The oilfield service company tallied 233 rigs the 14 county area during the quarter compared to ~270 in the 30 county area we observed. [Read more…]