Eagle Ford Rig Count Continues to Decline

Eagle Ford Rig Counts
Eagle Ford Rig Counts

The Eagle Ford Shale rig count fell this week to 107 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, a new report shows that the Eagle Ford’s Frio County came in at the fifth spot in new job growth and boasts an impressive 1,100 new oil and gas jobs for its small population of 18,500 people.

Read more: Texas Counties Dominate Job Growth

The U.S. rig count fell by 13 this week, ending with 864 rigs running by midday Friday.  A total of 202 rigs were targeting natural gas (same as previous week) and 662 were targeting oil in the U.S. (13 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)375 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 increased to 15 this week as natural gas prices traded at $2.66/mmbtu, a $.05 decrease from the previous week.

The oil rig count was at 91 as WTI oil prices rose to $46.62, an increase of $1.63. A total of 98 rigs are drilling horizontal wells, one are drilling directional wells, and eight are vertical rigs. Karnes County continues to lead development this week running 20 rigs, with DeWitt (18), following closely behind. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by Count

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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