Eagle Ford Loses More Rigs

Eagle Ford Rigs
Eagle Ford Rigs

The Eagle Ford Shale rig count fell this week to 110 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, oil production in the region increased slightly during July. After production fell in May by 50,000 barrels per day, it increased a slighttly from June to July by 10,000 barrels a day. Average production throughout the region was 1.6 million b/d, about 17% higher than July 2014.

Read more: Eagle Ford Production up 1%

The U.S. rig count decreased by eight, ending with 877 rigs running by midday Friday.  A total of 202 rigs were targeting natural gas (nine less than the previous week) and 675 were targeting oil in the U.S. (one more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)383 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 near the bottom of this article.

Eagle Ford Oil & Gas Rigs

Natural gas rigs in the Eagle Ford decreased again to 15 this week as natural gas prices traded at $2.71/mmbtu, a $.03 increase from the previous week.

The oil rig count was at 95 as WTI oil prices rose to $44.99, an increase of $4.54. A total of 101 rigs are drilling horizontal wells, one is drilling directional wells, and eight are vertical rigs. Karnes County continues to lead development this week running 19 rigs, with DeWitt (18), following closely behind. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by Count

Eagle Ford Shale News

Will Re-Fracking Save the Eagle Ford?

Mexico Oil Swap Not Significant

NextEra Energy Moves into the Eagle Ford

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.

Read more at bakerhughes.com