Eagle Ford Rig Count is Climbing
The Eagle Ford Shale rig count made gains this week, with our data showing 42 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, Cabot Oil announced plans to allot 21% of its E& P budget to Eagle Ford in 2017.
Read more: Cabot to Keep Eagle Ford Spending Low
A total of 567 oil and gas rigs were running across the United States this week, a gain of 12 over last week. 117 rigs targeted natural gas (three more than the previous week) and 450 were targeting oil in the U.S. (nine more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 262 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
Eight rigs in the Eagle Ford region targeted natural gas this week with the commodity dropping to $2.78/mmbtu.
34 Eagle Ford rigs were targeting oil with WTI oil prices continuing a decline to $44.13 .
A total of 37 rigs are drilling horizontal wells, zero are drilling directional wells and five are vertical.
LaSalle County leads production this week with nine 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 News
Carizzo Spends Big in the Eagle Ford
Baytex Remains Focused on the Eagle Ford
Titanium Exploration Partners Gains Eagle Ford Acreage
Cabot to Keep Eagle Ford Spending Low
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