The Eagle Ford Shale rig count held steady this week with 86 rigs running across our coverage area by midday Friday.
In recent Eagle Ford News, the Federal Reserve Bank of Dallas reported that Texas oil and gas employment expanded in August by 1,700 jobs to roughly 218,500. This makes the seventh consecutive month that Texas has seen oil and gas job growth.
Texas Oil and Gas Jobs Increase for Seven Straight Months
A total of 940 oil and gas rigs were running across the United States this week, five more than last week. 189 rigs were targeting natural gas (- one) and 750 were targeting oil in the U.S. (+ six). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 451 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
10 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $3.01/mmbtu.
76 Eagle Ford rigs were targeting oil with WTI oil prices at $51.67.
A total of 81 rigs are drilling horizontal wells, two are drilling directional wells and three are vertical.
Karnes County leads activity in the region with 16 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-September 29, 2017
Eagle Ford Shale News
Sanchez Sells Eagle Ford Acres for $105 Million
Texas Oil and Gas Jobs Increase for Seven Straight Months
Oil and Gas Production Down Across Texas
RRC Doubles Original Drilling Permits for June 2017
Eagle Ford Shale Still in Recovery After Hurricane
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.