Eagle Ford Rig Count Down by 21

EFS Rigs Decrease
EFS Rigs Decrease

The Eagle Ford Shale rig count decreased by 21 to 211 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, the U.S. Energy Information Administration (EIA) has released new maps that include updated information for Eagle Ford derived from producing wells from January 2000- June 2014. These maps are categorized based on Gas-to-oil ratio, elevation contours, footprint and thickness contours.

Read more: EIA Updates Eagle Ford Maps

The U.S. rig count fell by 90 to 1543 rigs running by the end of last week. A total of 316 rigs were targeting natural gas (up 6 from the previous week) and 1,317 were targeting oil in the U.S. (ten less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).  753 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

The natural gas rigs increased by four to 18 rigs running by the end of last week. Natural gas prices decreased by $.20 from the previous week at $2.69/mmbtu on Friday afternoon.

The oil rig count decreased by 21 to 211 rigs running by the end of last week. WTI oil prices increased by $3.10 from the previous week, trading at $48.24/bbl on Friday afternoon. A total of 200 rigs are drilling horizontal wells, three rigs are drilling directional wells, and eight rigs are drilling vertical wells. Karnes (33), Dimmit (28), and DeWitt (25) have the highest rig counts this week. See the full list below in the Eagle Ford Shale Drilling by County below

Eagle Ford Shale Drilling by County

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 full report at bakerhughes.com