Eagle Ford Oil Rigs Fall Below 100

Eagle Ford Rigs Fall This Week
Eagle Ford Rigs Fall This Week

The Eagle Ford Shale rig count fell 11 this week to 114 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, the Texas Railroad Commission released its latest statistics showing the state’s oil and gas production continues to impress, with the Eagle Ford leading the way.

Read more: Eagle Ford Leads the State

The U.S. rig count fell by seven, ending with 868 rigs running by midday Friday.  A total of 222 rigs were targeting natural gas (down three from the previous week) and 642 were targeting oil in the U.S. (four less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)364 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 fell by seven to 19 this week and natural gas prices traded at $2.59/mmbtu, a decrease of  $.06 from the previous week.

The oil rig count decreased by seven to 95 with WTI oil prices continuing to inch upwards this week to $59.13, a decrease of $1.08. A total of 112 rigs are drilling horizontal wells, zero rigs are drilling directional wells, and two are vertical rigs. Karnes county leads Eagle Ford drilling this week running 20 rigs, while LaSalle (18) and Webb (17) following closely. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by Count

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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.

Read more at bakerhughes.com