Eagle Ford Regional Rig Count at 244 - Feb 15, 2013

EOG Resources South Texas Eagle Ford Map
EOG Resources South Texas Eagle Ford Map

The Eagle Ford Shale drilling rig count fell 8 rigs to 244 running this past week and several producers reported earnings.

EOG detailed what is the largest Eagle Ford well ever drilled based on IP rate. The Burrow Unit #2H, which had an initial production rate of 6,330 b/d of oil with 713 b/d of NGLs and 4.1 mmcfd of natural gas, is the biggest well drilled to date. That's over 7,700 boe/d! An offset well in the same unit produced over 6,600 boe/d. There's a smiling royalty owner somewhere. Hopefully, Hawaii.

We also shared our thoughts on NAPE - Heard at Winter NAPE 2013.

Eagle Ford Oil & Gas Rigs

[ic-r]The natural gas rig count fell to 30 running this past week. That's an Eagle Ford record low.  Gas prices fell a dime over the week and were trading near $3.16/mmbtu on Friday afternoon.

The oil rig count fell 1 unit to 212 running in the area. WTI crude futures were trading close to $96 per barrel to end the week. Eagle Ford crude prices were unchanged from the Friday before at $104.87/bbl on the 15th of February. Eagle Ford light crude and condensate in the area traded at $92.25 and $91.25, respectively.

There are 217 horizontal rigs running in the region. A disposal well is being drilled in Frio County and an injection well is being drilled in Karnes County.

La Salle County leads development with 36 rigs running. DeWitt (27), Karnes (24), Webb (23), Dimmit (22), Gonzales (22),McMullen (22), Live Oak (18), Atascosa (10), Leon (7), Lavaca (6), and Frio (5) round out the top counties in the region.

South Texas Oil & Gas News:

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.

Eagle Ford Shale Drilling by County