The Eagle Ford Shale drilling rig count increased seven rigs to 247 running this past week. That's a welcome increase after settling near 240 rigs for the past two months.
The week was highlighted by several big announcements. Forest Oil is selling acreage for expertise and capital from Schlumberger. The deal also increases Forest's Eagle Ford production expectations in 2014.
Halcon has expanded Eagle Ford development into Brazos County and there were three midstream announcements worth well over $1 billion.
- Plains All American Planning Permian To Eagle Ford Pipeline
- Atlas Buys Teak Midstream For $1 Billion
- TexStar Buys Tierra Pipeline & Transportation Assets
Eagle Ford Shale Conference & Expo
Don't forget about the Eagle Ford Conference & Expo coming up on May 1-2 in Robstown. If you haven't registered yet, you can do so here:
Eagle Ford Oil & Gas Rigs
[ic-l]The natural gas rig count bounced off the low of 16 last week to 17 this week. We're still down about 85% from the peak of natural gas drilling in the area. Natural gas prices continued to show strength and traded up to ~$4.40/mmbtu on Friday. With oil prices declining, strength in natural gas prices is a welcomed sight.
A total of 229 oil rigs are running in the region or six more than last week. The WTI crude oil price lost further ground as it traded near $88/bbl Friday afternoon. Eagle Ford light crude traded at $84.25/bbl on April 18th.
There are 221 horizontal rigs running in the region and an injection well is being drilled in Webb County.
La Salle and Karnes counties lead development with 33 and 32 rigs running, respectively. See the full list of drilling by county at the bottom of the page.
South Texas Oil & Gas News:
- Forest Oil - Schlumberger Ink Eagle Ford Development Deal
- Plains All American Planning Permian To Eagle Ford Pipeline
- Halcon Plans Eagle Ford Development In Brazos County
- Atlas Buys Teak Midstream For $1 Billion
- TexStar Buys Tierra Pipeline & Transportation Assets
Our friends from the Texas Oil & Gas Associate and STEER contributed an article this week - Driving Safety A Top Priority For The Oil & Gas Industry
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
