The Eagle Ford Shale rig count rose by two rigs to 269 running over the past week.
In Eagle Ford news this past week, TexStar Midstream signed an agreement with Calumet Specialty Products Partners to construct, own, and operate a 30,000 b/d pipeline system that will deliver Eagle Ford crude to Calumet’s San Antonio Refinery.
Read the full article: TexStar Is Building An Eagle Ford Pipeline From Karnes to San Antonio for Calumet
The U.S. rig count dropped by 11 rigs from 1,768 to 1,757 running over the past week. A total of 374 rigs are targeting natural gas (2 more than last week) and 1,382 (13 less than last week) are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 835 or 47.5% of rigs active in the U.S. are running in Texas.
Baker Hughes rig count is quoted here. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (229 rigs). 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
[ic-l]The natural gas rig count decreased by one rig to 29 running this past week. At this time in 2012, there were more than 60 rigs and in 2011 there were more than 90 rigs targeting natural gas in the area. Don't be surprised if this is the bottom and we see more natural gas rigs in 2014. Natural gas essentially stayed level around ~$4.40/mmbtu on Friday afternoon.
The oil rig count jumped three rigs to 240 rigs running. WTI oil prices held basically flat on the week at just under $99/bbl. Eagle Ford light crude traded at $96/bbl on Dec. 20th.
A total of 230 rigs are drilling horizontal wells, 21 rigs are drilling directional wells, and 18 rigs are drilling true vertical wells. Karnes, DeWitt, La Salle, and McMullen counties all have between 28 and 32 rigs running. See the full list of drilling by county below.
South Texas Oil & Gas News:
- Halcon Reduces 2014 Capital Spending Plans – Production Guidance Flat
- Eagle Ford Growth Means Opportunity – TED Talk – Video
- DON’T LOSE IT! – Medical Certification Required for CDL Drivers
- TexStar Is Building An Eagle Ford Pipeline From Karnes to San Antonio for Calumet
Eagle Ford Shale Drilling by County
Eagle Ford Operated Rig Count By Company
SmithBits no longer reports its operated rig count, but we'll have updated number for you from a new source soon. Until then, you can reference our numbers from mid-April. There has not been a significant change in the overall rig count since this date:
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 and/or Smith Service Co's (Schlumberger) Smith Rig Count.