The Eagle Ford Shale drilling rig count remained flat this week, but we experienced a lot of movement between counties. La Salle County jumped 5 rigs to surpass Karnes and Webb counties, who have combined to hold the lead in terms of rig activity for the past year. Webb County lost 3 rigs, but no other counties gained or lost more than 1 rig. The natural gas rig count held flat (83) on the week, while we lost 1 oil rig (171). Natural gas prices fell back to ~$2.50/mmbtu and it looks like growing production across the U.S. is going to stand in the way of higher prices for the foreseeable future. March WTI oil prices were down a little on the week at $97 per bbl. Horizontal wells account for activity from 238 rigs drilling and we have 1 disposal well being drilling in Leon County (not a core Eagle Ford area).
La Salle County took the lead in drilling with 39 rigs. Karnes (38),Webb (33), DeWitt (28), McMullen (23),Gonzales (19), and Dimmit (19) lead the pack and are the only counties with more than 7 rigs active.
News in the Eagle Ford included:
- Marathon to Double Eagle Ford Production in 2012
- Pioneer Natural Resources Reports Year-end Eagle Ford Shale Reserves
- Comstock Resources Plans $193 Million Eagle Ford Capital Budget
- Magnum Hunter Lavaca County Wells Produce 2,000+ boe/d
- Murphy Oil Plans Eagle Ford Spending of $1-1.2 Billion per Year
- Eagle Ford Bank Deposits Are Setting the Pace in Texas
Come back weekly for updates on the South Texas drilling rig count.
Drilling 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.