Eagle Ford Rig Count Drops to 115

Eagle Ford Rigs Decrease
Eagle Ford Rigs Decrease

The Eagle Ford Shale rig count fell by five this week to 115 rigs running across our coverage area by midday Thursday

In recent Eagle Ford news, the temporary housing market for oilfield workers in the Eagle Ford is hanging on despite slower demand. New numbers by the Comptroller’s Office show lodging providers in the Eagle Ford took in $63 million in revenue in the first quarter of the year, down 11 percent from the previous quarter, but a $5.1 million increase over 2014.

Read more: Eagle Ford Hotels: Down But Not Out

The U.S. rig count increased slightly, ending with 863 rigs running by midday Friday.  A total of 217 rigs were targeting natural gas (two less than the previous week) and 645 were targeting oil in the U.S. (five more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)368 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 fell to 25 this week and natural gas prices traded at $2.77/mmbtu, an decrease of  $.04 from the previous week.

The oil rig count fell by four to 90 as WTI oil prices dropped to $52.74, a decrease of $3.98. A total of 105 rigs are drilling horizontal wells, zero are drilling directional wells, and 10 are vertical rigs. Karnes leads development this week running 20 rigs, with LaSalle (17), DeWitt (15) and Webb (15) follow closely. 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