The Eagle Ford Shale rig count bounced back up to 125 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, Matador resources report that the low oil prices have taken a toll on the company’s earnings and caused them to temporarily suspend operations in the Eagle Ford Shale.
Read more: Matador Still Keen on the Eagle Ford
The U.S. rig count fell by 10, ending with 875 rigs running by midday Friday. A total of 225 rigs were targeting natural gas (an increase of three from the previous week) and 646 were targeting oil in the U.S. (13than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)369 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 gained one to 22 this week and natural gas prices traded at $2.65/mmbtu, an decrease of $.24 from the previous week.
The oil rig count remained flat at 103 with WTI oil prices continuing to inch upwards this week to $60.21, an increase of $.49. A total of 116 rigs are drilling horizontal wells, zero rigs are drilling directional wells, and vertical rigs stayed at nine. Karnes county leads Eagle Ford drilling this week running 22 rigs, while LaSalle (19) and Webb (18) following closely. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale Drilling by Count
Eagle Ford Shale News
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