Eagle Ford Rig Count Unmoved

Eagle Ford Rig Count Unmoved

Eagle Ford Rig Count Unmoved

The Eagle Ford Shale rig count remained flat this holiday week, with our data showing 45 rigs running across our coverage area by midday Wednesday.

In recent Eagle Ford news, Earthstone Energy announced third quarter results last week including plans to initate the completion of its 12-well Eagle Ford inventory.

Read more: Earthstone Q3: Six New Eagle Ford Wells

A total of 592 oil and gas rigs were running across the United States this week, a gain of five over last week. 118 rigs targeted natural gas (two more than the previous week) and 474 were targeting oil in the U.S. (three more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 279 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

Nine rigs in the Eagle Ford region targeted natural gas this week with the commodity dropping to $3.04/mmbtu.

36 Eagle Ford rigs were targeting oil with WTI oil prices increasing to $47.43. 

A total of 41 rigs are drilling horizontal wells, zero are drilling directional wells and four are vertical.

Karnes County leads this week with 10 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 News

Maverick Oil and Gas Is Bullish on the Eagle Ford

Lonestar Gains Cash for Eagle Ford Develop

Encana to Add 100 New Eagle Ford Locations

Penn Virginia to Resume Eagle Ford Drilling

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