Eagle Ford Regional Drilling at 249 Rigs Jan 11, 2013

Comstock Resources Eagle Ford Map
Comstock Resources Eagle Ford Map

Eagle Ford Shale regional drilling fell to 249 rigs running this past week.

We know that capital spending will make the Eagle Ford the largest development in the world in 2013, but we spent time reviewing a few smaller companies' budgets.

Eagle Ford Oil & Gas Rigs

The natural gas rig count was 42 this week as gas prices fell further, but then bounced on Friday to end the week basically flat near $3.30/mmbtu.

The oil rig count was flat at 204 running in the area. WTI crude futures were trading close to $94 per barrel to end the week. Eagle Ford crude priced at $106.53/bbl on the 8th of January. Eagle Ford light crude and condensate in the area traded at $90 and $89, respectively.

There are 241 horizontal rigs running in the region. A storage well is being drilled in Zavala County and disposal wells are being drilled in Frio County and Leon County.

La Salle & Karnes counties lead development with 32 rigs running. McMullen (28),Dimmit (25), Webb (22), Gonzales (21), DeWitt (15), Live Oak (11), Atascosa (8), Fayette (8), Lavaca (8), Leon (8), Frio (6) and Zavala (6) round out the top counties in the region. [ic-c] South Texas Oil & Gas News:

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates.

Eagle Ford Rig Count by Operator

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 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.

Eagle Ford Shale Drilling by County