The Eagle Ford Shale rig count fell again this week, ending with 34 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, Encana announced first quarter results that highlighted dramatic cost reductions, operational innovation and Eagle Ford flexibility.
Read more:Encana’s Reports Strong First Quarter
A total of 405 oil and gas rigs were running across the United States this week, down nine from last week. 87 were targeting natural gas (one more than the previous week) and 318 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.)181 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 in the Eagle Ford remained at six this week as natural gas prices remaining flat at $2.10/mmbtu.
The Eagle Ford rigs targeting oil fell this week to 29 with WTI oil prices settling in at $46.21, a $1.59 increase this week. A total of 31 rigs are drilling horizontal wells, zero are drilling directional wells, and three are vertical rigs.
Karnes County leads development in the region with 10 rigs running this week. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale News
Encana’s Reports Strong First Quarter
Noble Energy Reports Solid First Quarter
Sanchez Reports First Quarter Production Increase
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