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…]