The Eagle Ford Shale rig count increased by one to 263 rigs running across our coverage area by the end of last week.
In recent news, new waste water disposal rules could soon impact oil and gas development in Texas.
After a rash of low-magnitude earthquakes linked to injection/waste water disposal wells across the state, new rules could soon be on the table soon for industry to dispose of its drilling waste water.
The U.S. rig count increased by 11 to 1,925 rigs running by the end of last week. A total of 340 rigs were targeting natural gas (two more than the previous week) and 1,584 were targeting oil in the U.S. (9 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 907 or ~48% of rigs active in the U.S. were running in Texas.
Baker Hughes rig count is quoted here. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (202 rigs). 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 near the bottom of this article.
Eagle Ford Oil & Gas Rigs
The natural gas rig count increased by one to 13 rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 80 and then dropped to around 40 in 2013. Natural gas prices decreased by ~$.10 from the previous week to $4.08/mmbtu on Friday afternoon.
The oil rig count stayed flat at 250 rigs running by the end of last week. WTI oil prices increased by more than $2 from the previous week, trading at $93.25/bbl on Friday afternoon. Eagle Ford light crude traded at $89.75/bbl on Sept. 5th.
A total of 249 rigs are drilling horizontal wells, six rigs are drilling directional wells, and eight rigs are drilling vertical wells. Karnes, La Salle, De Witt, and Webb each have at minimum 25 rigs running. Karnes County has the highest rig count this week at 33. See the full list below in the Eagle Ford Shale Drilling by County below
South Texas Oil & Gas News:
Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates.
Eagle Ford Shale Drilling by County
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.