Eagle Ford Shale Rig Count Slides Backward to March Levels
After months of increases, the Eagle Ford Shale rig count slid this week to levels not seen since March of this year. 82 rigs were running across our coverage area by midday Friday.
In recent industry news, EOG Resources announced the company's Eagle Ford operations remain resilient and well activity is steady and predictable.
EOG: Eagle Ford Remains Resilient
A total of 907 oil and gas rigs were running across the United States this week, nine more than last week. 169 rigs were targeting natural gas (0 change) and 738 were targeting oil in the U.S. (+9). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 442 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 $3.21/mmbtu.
73 Eagle Ford rigs were targeting oil with WTI oil prices rising to $56.74.
A total of 77 rigs are drilling horizontal wells, one is drilling a directional well and four are vertical.
Karnes County leads activity in the region with 19 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-November 10 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.