Eagle Ford Shale Drilling Rig Count - November 4, 2011

drilling rig 6
drilling rig 6

The Eagle Ford Shale drilling rig count dropped two rigs to average 243 for the prior week. We're holding steady with an estimated 200 of the rigs targeting the Eagle Ford formation, while the remainder target other formations such as the Pearsall, Olmos, and Austin Chalk. Four natural gas rigs dropped off to bring us to a count of 106. We're down almost 20 rigs from just less than a month ago.  The decline in gas rigs has been completely offset by the increase in oil rigs, now at 136. We also have one disposal well being drilled in Webb County. Webb (37), Karnes (32), and La Salle (32) counties lead the region in terms of active drilling.

Chesapeake Energy (29) and EOG Resources (24) continue to lead the pack of major operators. EOG announced record Eagle Ford well results from the play this week. The company has now brought on multiple wells at more than 3,000 boe/d.

Oil & gas companies were reporting earnings this week, so there is a lot of Eagle Ford news to digest:

Stay tuned each week for an update on the South Texas 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 Shale. 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.

Drilling Rigs by County