The Eagle Ford Shale rig count bounced back into the 90's, ending the week with 92 rigs running across our coverage area by midday Friday.
In recent Eagle Ford Shale news, Penn Virginia plans to increase its Eagle Ford production, acreage, and drilling with the purchase of assets from Devon Energy Corporation.
Penn Virginia Increases Eagle Ford Acreage & Drilling
A total of 954 oil and gas rigs were running across the United States this week, four less than last week. 189 rigs targeted natural gas (three less than the previous week) and 765 were targeting oil in the U.S. (one less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 466 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 trading lower at $2.77/mmbtu.
83 Eagle Ford rigs were targeting oil with WTI oil prices at $49.58.
A total of 87 rigs are drilling horizontal wells, zero are drilling directional wells and five are vertical.
Karnes County leads activity in the region with 18 rigs in production. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale Drilling by County
Eagle For Rig Count by County-August 4, 2017
Eagle Ford Shale News
Penn Virginia Increases Eagle Ford Acreage & Drilling
Baytex: Eagle Ford Producing Best Well Results to Date
Study: Oil and Gas Still Essential to Eagle Ford Shale Economy
Natural Gas Production Down in Texas
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.