Eagle Ford Shale Rig Count at 80

The Eagle Ford Shale rig count inched up this week, with our data showing 80 rigs running across our coverage area by midday Friday.

In recent Eagle Ford News, Sanchez announced it has closed on a $2.1 billion deal with Anadarko Petroleum for 65,000 acres in the Western Eagle Ford Shale.

Read more: Sanchez Gains Eagle Ford Assets for $2.1 Billion

A total of 789 oil and gas rigs were running across the United States this week, an increase of 21 over than last week. 157 rigs targeted natural gas (six more than the previous week) and 631 were targeting oil in the U.S. (14 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 396 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

Seven rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.95/mmbtu.

73 Eagle Ford rigs were targeting oil with WTI oil prices sitting at $48.78

A total of 76 rigs are drilling horizontal wells, zero are drilling directional wells and four are vertical.

Karnes County leads this week with 17 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 Rig Count by County-March 17, 2017

Eagle Ford Rig Count by County-March 17, 2017

 

Eagle Ford Shale News

Sanchez Gains Eagle Ford Assets for $2.1 Billion

Oil & Gas Production in Texas Decreases for First Time since 2010

EOG Still Seeing Potential in the Eagle Ford

Eagle Ford Leads Texas in Gas Production

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