Eagle Ford Rig Count Increases to 43

Eagle Ford Rig Count Increases

Eagle Ford Rig Count Increases

The Eagle Ford Shale gained five rigs this week, ending with 43 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, the Texas oil and gas industry continues to shrink with drillers laying off to 1 in 5 employees since last June, But one analyst says that trend may be slowing.

Read more: Oil & Gas Job Cuts Maybe Slowing

A total of 462 oil and gas rigs were running across the United States this week, up two from last week. 81 were targeting natural gas (five less than the previous week) and 381 were targeting oil in the U.S. (seven more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 217 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 are targeting natural gas in the Eagle Ford this week with natural gas trading at $2.78/mmbtu.

The Eagle Ford rigs targeting oil increased to 35 with WTI oil prices inching to $41.66, a $.06 decrease this week. 

A total of 38 rigs are drilling horizontal wells, one is drilling directional wells and four are vertical.

Karnes County leads development in the region with eight rigs running 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

Newfield to Sell Eagle Ford Assets

Sundance Gains McMullen County Property

Oil & Gas Job Cuts Maybe Slowing

Anadarko: No Drilling in the Eagle Ford for Q2

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