The Eagle Ford Shale rig count remains flat headed into the holiday, with 83 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, well completion rates have dropped dramatically this year and 2017 may see the fewest wells completed since before 2008, the earliest record published by the Texas Railroad Commission.
Well Completions Drop Dramatically in Texas
A total of 931 oil and gas rigs were running across the United States this week, one more than last week. 184 rigs were targeting natural gas (+1) and 747 were targeting oil in the U.S. (+0). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 455 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
8 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.67/mmbtu.
75 Eagle Ford rigs were targeting oil with WTI oil prices at $58.47.
A total of 80 rigs are drilling horizontal wells, zero are drilling directional and three are vertical.
Karnes County leads activity in the region 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 Rig Count by County-December 22, 2017
Eagle Ford Shale News
Well Completions Drop Dramatically in Texas
Carrizo Sells Eagle Ford Assets for $245 million
Oil and Gas Production Declines Across Texas
Oil and Gas Operators Fined $11,077,280 in 2017
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.