After many weeks of gains, the Eagle Ford Shale rig count fell back this week, 78 rigs running across our coverage area by midday Friday.
In recent Eagle Ford News, the Texas Railroad Commission (RRC) announced that oil and gas production for the state of Texas is at its lowest levels in years.
A total of 768 oil and gas rigs were running across the United States this week, an increase of 12 over than last week. 151 rigs targeted natural gas (five more than the previous week) and 617 were targeting oil in the U.S. (eight more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 392 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
Five rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $3.01/mmbtu.
73 Eagle Ford rigs were targeting oil with WTI oil prices fell to $48.49
A total of 74 rigs are drilling horizontal wells, zero are drilling directional wells and four are vertical.
Karnes County leads this week with 19 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 Rig Count by County-March 10, 2017
Eagle Ford Shale News
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.