Eagle Ford Rig Counts Continue to Flounder

Eagle Ford Rig Count Falls

Eagle Ford Rig Count Falls

The Eagle Ford Shale rig count fell by one this week, ending with34 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, the EIA (U.S. Energy Information Administration) is predicting that production in the Eagle Ford will experience a steep decline in July.

Read more: EIA: Eagle Ford Production Decline to Surpass Other Shale Regions

A total of 430 oil and gas rigs were running across the United States this week, an increase of 10 over last week. 89 were targeting natural gas (one less than the previous week) and 341 were targeting oil in the U.S. (11 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 198 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 slipped to six running across the Eagle Ford, wth natural gas prices increasing on the rise to $2.93/mmbtu.

The Eagle Ford rigs targeting oil remained flat at 28 with WTI oil prices climbing to $49.18, a $1.54 increase this week. A total of 32 rigs are drilling horizontal wells, one is drilling directional wells, and one is vertical.

Karnes County leads development in the region but fell to 8 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

Marathon Fined for Eagle Ford Infractions

EIA: Eagle Ford Production Decline to Surpass Other Shale Regions

Karnes County Receives Gift to Repair Road

Eagle Ford Gas Heads to Mexico in $3.6 Billion Pipeline Deal

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