Eagle Ford Operators Increase Horizontal Drilling; Rig Count Unchanged

Eagle Ford Rig Count

The total Eagle Ford Shale rig count was unchanged this week, though operators increased horizontal drilling in the area. There were 86 rigs running across our coverage area by midday Friday. 

In recent industry news, crude oil prices dipped in February after hitting a two-year high last month. 

Crude Oil Prices Slip in February

A total of 978 oil and gas rigs were running across the United States this week. 179 rigs were targeting natural gas (+2) and 799 were targeting oil (+1) in the U.S. The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)  482 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

11 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.63/mmbtu.

75 Eagle Ford rigs were targeting oil with WTI oil prices at $63.55, an increase of $1.87 from last week.

A total of 86 rigs are drilling horizontal wells, one is drilling directional and one is vertical.

Karnes County leads activity in the region with 16 rigs in production. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

 Eagle Ford Shale Rig Count by County-February 23, 2018

Eagle Ford Shale Rig Count by County-February 23, 2018

 

Eagle Ford Shale News

Crude Oil Prices Slip in February

RRC: 1,036 New Well Permits Issued in Texas

Eagle Ford Laboratory Will Test New Drilling Solutions

Texas Drilling Permits Up 30% for 2017

New Pipeline System Coming to the Eagle Ford

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.