The Eagle Ford Shale drilling rig count increased to 244 units running this past week. La Salle County, with 35, is the only county with more than 30 rigs running.
On Monday, we detailed highlights from the Eagle Ford Consortium Conference 2013. Several executives were on hand to share their thoughts on the play:
- Valero's Three Rivers Refinery was nearly mothballed before the Eagle Ford
- Marathon's CEO believes the Eagle Ford is the "Best" play in North America and maybe the world
- Midstream infrastructure is playing catch up
- Dairy Queen is paying signing bonuses!
Eagle Ford Oil & Gas Rigs
[ic-r]The natural gas rig count held flat at 24 this past week. Natural gas prices traded up during the week to $3.86/mmbtu on Friday afternoon. I wish I had a magic wand, but I am getting confident the worst is behind us in terms of low natural gas prices.
Four oil rigs were added to bring the total to 219 running in the area. WTI crude futures recovered from lows last week to trade at approximately $93.50/bbl Friday afternoon. NOTE - Eagle Ford crude prices are a little harder to track these days. Plains All American has stopped posting Eagle Ford prices except Eagle Ford light crude prices. Eagle Ford light traded at $89.50/bbl on March 14th. The majority of Eagle Ford crude is very light or condensate. Those that produce a crude close to 40 degrees API gravity will continue to fetch a premium.
There are 206 horizontal rigs running in the region. That is 9 more than last week when we fell below 200 for the first time in almost two years. An injection well is being drilled in Webb County.
La Salle County leads development with 35 rigs running. DeWitt (28), Karnes (27), McMullen (25), Webb (23), Gonzales (23), Dimmit (20), Live Oak (14), Atascosa (9), Leon (9), Madison (5), Wilson (5) and Frio (4) round out the top counties in the region.
South Texas Oil & Gas News:
- Eagle Ford Consortium Conference Highlights
- New Water Management Solutions Help Decrease Impact on Supply
- Fuel Saving Tips in the Eagle Ford - Devorah Fox
- Sanchez Energy's 2012 Eagle Ford Results
- Penn Virginia Pearsall Test Coming - Eagle Ford Reserves Surge
Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates.
Eagle Ford Rig Count by Operator
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 SmithBits 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 and/or Smith Service Co's (Schlumberger) Smith Rig Count.