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.
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:
- Cabot Grabs More Eagle Ford Acreage in Oil Window
- UTSA: Eagle Ford Shale Economic Impact – $87 Billion
Eagle Ford Shale Drilling by Count
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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.