Eagle Ford Rig Count Drops as Crude Nears $50

Eagle Ford Rig Count Drops

Eagle Ford Rig Count Drops

The Eagle Ford Shale rig count fell by two this week, ending with42 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, Railroad Commissioner Christi Craddick gave more details on the Texas Oilfield Relief Initiative, a new project designed to make the state’s energy regulatory body more efficient and effective.

Read more:Texas Oilfield Relief Initiative Takes Shape

A total of 489 oil and gas rigs were running across the United States this week, and increase from last week of 10. 83 were targeting natural gas (same more than the previous week) and 406 were targeting oil in the U.S. (10 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 238 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

9 rigs in the region targeted natural gas this week with the commodity trading at $2.57/mmbtu.

The Eagle Ford rigs targeting oil dropped to 33 with WTI oil prices continuing upwards to $48.52, a $4.03 increase this week. 

A total of 37 rigs are drilling horizontal wells, one is drilling directional wells and four are vertical.

For the first time, Karnes County shares the number one spot with Dimmit County, with both running eight rigs this week. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

Eagle Ford Shale News

Karnes County Couple Sues Marathon Oil

Cabot to Reduce Spending in the Eagle Ford

Texas Oilfield Relief Initiative Takes Shape

Sanchez Energy to Increase Upstream Spending

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