Eagle Ford Rig Count on the Rise

Eagle Ford Rig Count on the Rise

Eagle Ford Rig Count on the Rise

The Eagle Ford Shale rig count rose by four this week, ending with37 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, Texas Lt. Gov. Dan Patrick has added his voice of support for Texas LNG Project, allowing more Eagle Ford gas to be shipped overseas.

Read more: Texas LNG Project

A total of 423 oil and gas rigs were running across the United States this week, an increase of 10 over last week. 85 were targeting natural gas (one more than the previous week) and 337 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.) 191 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

Natural gas rigs rose this week to six running across the Eagle Ford, wth natural gas prices also increasing to $2.62/mmbtu.

The Eagle Ford rigs targeting increased to 31 with WTI oil prices dipping to $47.98, a $.46 decrease this week. A total of 33 rigs are drilling horizontal wells, one are drilling directional wells, and thre are vertical rigs.

Karnes County leads development in the region with 9 rigs running this week. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

agle Ford Shale News

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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.

Read more at bakerhughes.com