The Eagle Ford Shale rig count remained flat this week, making it the third week in a row ending with 44 rigs running across our coverage area.
In recent Eagle Ford news, UT’s Bureau of Economic Geology released new and unpublished research this week that shows Eagle Ford companies could potentially recover 10 billion barrels of oil at today’s prices.
A total of 505 oil and gas rigs were running across the United States this week, a decrease of 1 from last week of two. 89 rigs targeted natural gas (three less than the previous week) and 416 were targeting oil in the U.S. (two more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 244 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
5 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.95/mmbtu.
The Eagle Ford rigs targeting oil were at 39 with WTI oil prices dipping $2.85 to $43.03 .
A total of 38 rigs are drilling horizontal wells, one is drilling directional wells and five are vertical.
Karnes County continues to lead development this week with nine rigs in operation. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale Drilling by County
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.
Read more at bakerhughes.com