Eagle Ford Regional Rig County Flat at 252 - Feb 8, 2013

Murphy Oil Eagle Ford Production
Murphy Oil Eagle Ford Production

The Eagle Ford Shale drilling rig count held flat this past week at 252. "Consistent" might be the best way to characterize the rig count during the first six weeks of the year. The rig county has been 252 three times and has averaged 252 during the first month and a half of 2013. We spent most of the week in Houston at Winter NAPE. Lots of insight to share from the ~18,000 attendees. We'll have a summary of the show for you on Monday February 11th.

Highlights from the past week included production milestones for Anadarko, Marathon, and Murphy. That's just the start of it. All three companies expect significant growth in 2013.

Development is fueling the need for new housing like Sendero Ranch in Dilley, TX. The gated community includes 85 two bedroom cottages. Sounds like a nice upgrade in "workforce housing".

Eagle Ford Oil & Gas Rigs

[ic-r]The natural gas rig count fell 3 to 37 running this week. Gas prices held reasonably flat - trading near$3.26/mmbtu on Friday afternoon.

The oil rig count added 3 units to reach 213 running in the area. WTI crude futures were trading close to $96 per barrel to end the week. Eagle Ford crude priced at $104.87/bbl on the 8th of February. Eagle Ford light crude and condensate in the area traded at $92.25 and $91.25, respectively.

There are 228 horizontal rigs running in the region. A disposal well is being drilled in Frio County and an injection well is being drilled in Karnes County.

La Salle County leads development with 35 rigs running. Karnes (27, Webb (26), Gonzales (24),McMullen (24), DeWitt (23), Dimmit (21), Live Oak (19), Atascosa (10), Leon (7), Lavaca (6), and Frio (5) round out the top counties in the region.

South Texas Oil & Gas News:

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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