Rig CThis week the Eagle Ford Shale rig count is up eight rigs to 230 active drilling rigs. The number of natural gas rigs working decreased by three to a total of 111, while the oil rig count increased 11 rigs to 119. Zero disposal wells or injection wells are being drilled at this time. Horizontal rigs account for 208 of the 230 rigs drilling in the South Texas region. DeWitt and Webb counties lost a total of five rigs combined, while Karnes, Frio, and Atascosa counties all experienced an uptick in drilling activity. That's a good rebound in the oil rig count! Expect a softer gas price in the coming weeks as forecasters expect more gas to be injected than normal. That might put pressure on the gas rig count, but remember in the Eagle Ford operators need to hold leases by drilling and producing hydrocarbons. An operator can hold a 640 acre lease with one gas well and only 160 acres with one oil well. That is playing a factor in supporting the gas rig count even at sub $4. More acreage HBP'd is a win for the operators.
Texas fires and the Big 12 dominated the news, but on the Eagle Ford front:
- Jadela and GasFrac Announced Results from an LPG Frack in Maverick County
- NuStar – Valero Reach Eagle Ford Pipeline Agreements
- Floresville Housing Stretched by the Eagle Ford
- Strike Energy JV Adds Eagle Ford Acreage
Stay tuned each week for an update on the South Texas rig count.
Rig Count by County
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 SmithBits and not solely wells targeting the Eagle Ford Shale. 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.