The Eagle Ford Shale rig count increased by one, ending the week with 48 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, the number of lawsuits in the region have increased with the drop in crude prices. Texas courts are seeing everything from royalty, lease and title complaints to more complicated contract disputes involving major investors.
Read more:Eagle Ford County Roads a Mess
A total of 450 oil and gas rigs were running across the United States this week, which is a drop of 14 over last week. 88 were targeting natural gas (four less than the previous week) and 362 were targeting oil in the U.S. (10 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)204 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 below.
Eagle Ford Oil & Gas Rigs
Natural gas rigs increased in the Eagle Ford fell to three this week as natural gas prices improved slightly, trading at $1.96/mmbtu, a $.15 increase from the previous week.
The Eagle Ford saw an increase in running oil rigs up this week to 45 with WTI oil prices ending the week at $36.79, a decrease of $2.67 over last week. A total of 43 rigs are drilling horizontal wells, zero are drilling directional wells, and five are vertical rigs.
Karnes County continues to lead the region in development with 11 running rigs. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale Drilling by County
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