The Eagle Ford Shale rig count falls for the third week in a row, ending at 89 rigs running across our coverage area by midday Friday.
In recent Eagle Ford Shale news, a new study indicates that economic health of Eagle Ford counties turned a corner after bottoming out in 2016.
A total of 958 oil and gas rigs were running across the United States this week, eight more than last week. 192 rigs targeted natural gas (six more than the previous week) and 766 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.) 462 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
10 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading lower at $2.94/mmbtu.
79 Eagle Ford rigs were targeting oil with WTI oil prices at $49.71.
A total of 86 rigs are drilling horizontal wells, zero are drilling directional wells and three are vertical.
Karnes County lost 4 rigs but is still ahead of other counties with 16 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
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.