The Eagle Ford Shale rig count remained flat this week, while U.S. totals dropped by 11. There were 85 rigs running across our coverage area by midday Friday.
In recent industry news, oil prices rose to a two-year high this week with West Texas Intermediate (WTI) crude climbing to $55.64 a barrel.
A total of 898 oil and gas rigs were running across the United States this week, 11 less than last week. 169 rigs were targeting natural gas (- 3) and 729 were targeting oil in the U.S. (-8). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 444 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
8 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.98/mmbtu.
77 Eagle Ford rigs were targeting oil with WTI oil prices holding at $55.64.
A total of 75 rigs are drilling horizontal wells, three are drilling directional wells and seven are vertical.
Karnes County leads activity in the region with 17 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-November 2 2017
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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.