Eagle Ford Regional Drilling at 252 Rigs - January 18, 2013

Onshore LNG Regas and Tanker
Onshore LNG Regas and Tanker

The Eagle Ford Shale drilling rig count increased by 3 rigs to top out at 252 running this past week.

In news, we touched on two developments regarding Eagle Ford completions over the past week. An Eagle Ford well was completed with a propane frack and a second well is planned to be completed with LNG powered frack pumps.

We sat down with a Ferus Oilfield Services rep, Jed Tallman, who provided details related to the Baker Hughes led LNG powered completion. Essentially, LNG is brought onsite in tanker trucks, regassed and injected through the air intake of the frack pumps. Diesel is still used and provides the spark for combustion, but substitution rates as high as 65% can be achieved. Add theeconomic savings of as much as $50,000 to the environmental benefits of cleaner burning natural gas and you get get a recipe for something you'll likely hear about again.

Eagle Ford Oil & Gas Rigs

[ic-r]The natural gas rig count fell two to 40 running this week. Gas prices, on the other hand, reversed weeks of declines to reach almost $3.60/mmbtu on Friday afternoon.

The oil rig count jumped five rigs to 209 running in the area. WTI crude futures were trading close to $95.50 per barrel to end the week. Eagle Ford crude priced at $108.53/bbl on the 17th of January. Eagle Ford light crude and condensate in the area traded at $92 and $91, respectively.

There are 233 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 and 30 rigs running, respectively. McMullen (27), Webb (25), Dimmit (24), DeWitt (22), Gonzales (22), Live Oak (13), Atascosa (9), Leon (8), Lavaca (7), Frio (6) and Fayette (5) round out the top counties in the region.

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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