Eagle Ford Rig Count Remains Steady

Eagle Ford Rig Counts
Eagle Ford Rig Counts

Due to the holiday, we are releasing the weekly rig count post early. 

The Eagle Ford Shale rig count remained flat this week with 90 rigs running across our coverage area by midday Wednesday.

In recent Eagle Ford news, TexasRailroad Commissioners warn against further federal overreach of the U.S. Environmental Protection Agency’s proposed rules on methane emissions for oil and gas operators.

Read more: Texas Challenges Methane Rules

A total of 700 oil and gas rigs were running across the United States this week. 162 were targeting natural gas (nine less than the previous week) and 538 were targeting oil in the U.S. (three less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)319 of the rigs active in the U.S. were running in Texas.

Baker Hughes reports its own Eagle Ford Rig Count that covers the 14 core counties. The rig count published on EagleFordShale.com includes a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table below.

Eagle Ford Oil & Gas Rigs

Natural gas rigs in the Eagle Ford are at 10 this week as natural gas prices rising slightly, trading at $1.95/mmbtu, a $.18 increase from the previous week.

The Eagle Ford oil rig count stayed at 80 with WTI oil prices ending the week at $37.50, an increase of $1.95. A total of 82 rigs are drilling horizontal wells, one are drilling directional wells, and eight are vertical rigs. Karnes County leads the region in development with 18 rigs this week. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

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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 Baker Hughes 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.

Read more at bakerhughes.com