The Eagle Ford Shale rig count gained two this week, increasing to 85 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, the Energy Information Administration (EIA) is predicting an increase of 81,000 barrels a day next month for shale drilling, bringing the total output to 6.12 million barrels a day.
Eagle Ford Expects Meager Gains in November
A total of 909 oil and gas rigs were running across the United States this week, four less than last week. 172 rigs were targeting natural gas (- 5) and 737 were targeting oil in the U.S. (+1). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 441 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 $2.96/mmbtu.
77 Eagle Ford rigs were targeting oil with WTI oil prices at $53.90.
A total of 75 rigs are drilling horizontal wells, three are drilling directional wells and seven 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-October 27, 2017
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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.