The Eagle Ford Shale drilling rig count held flat at 240 running this past week. The region has averaged 240 rigs running for the past seven weeks.
This week, we highlighted Kinder Morgan's plans to expand condensate processing further at its Galena Park Terminal along the Houston Ship Channel. A supply agreement with BP will support development of the facility and expand ultimate processing capacity to 100,000 b/d.
The second facility and additional storage will come with a price tag of $170 million.
You can read more about the announcement in the article Kinder Morgan Plans Second Condensate Facility At Galena Park
Eagle Ford Oil & Gas Rigs
[ic-l]The natural gas rig count fell four to 16 running this past week. That's down from a peak of 124 in October of 2011. Natural gas prices continued to show strength and traded up to $4.24/mmbtu on Friday. While the natural gas rig count and price are headed in two different directions, that won't be the case very long. I suspect we'll see more rigs enter the region targeting the Eagle Ford in areas that produce more natural gas during the summer.
A total of 223 oil rigs are running in the region or four more than last week. WTI crude oil price lost further ground as it traded near $91/bbl Friday afternoon. Eagle Ford light crude traded at $90/bbl on April 11th.
There are 215 horizontal rigs running in the region. An injection well is being drilled in Webb County.
La Salle and Karnes counties lead development with 34 and 31 rigs running, respectively. See the full list of drilling by county at the bottom of the page.
South Texas Oil & Gas News:
- New Oil & Gas Water Recycling Rules - TX RCC
- Eagle Ford Shale Task Force Report
- Kinder Morgan Adding To Condensate Processing Capacity
- Eagle Ford Water Disposal Wells Becoming More Common
Devorah Fox contributed an article highlighting the need for GPS systems that take into account road hazards, as well as reporting weather and road conditions. Read the full article at Truck Drivers - Watch Where You're Going.
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.