The Eagle Ford Shale rig count jumped this week this week by four, with data showing 84 rigs running across our coverage area by midday Friday. This is the first increase seen in the region in 2018.
U.S. rig totals also increased as the industry saw commodity prices fall for crude oil and natural gas.
A total of 975 oil and gas rigs were running across the United States this week. 184 rigs were targeting natural gas (+3) and 791 were targeting oil (+26) in the U.S. The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 479 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
9 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.59/mmbtu.
75 Eagle Ford rigs were targeting oil with WTI oil prices at $59.20, falling $6.25 from last week.
A total of 82 rigs are drilling horizontal wells, one is drilling directional and one is 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-February 8, 2018
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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.