Eagle Ford Rig Count Drops to 127

EIA Namess top 100 Oil & Gas Fields
EIA Namess top 100 Oil & Gas Fields

The Eagle Ford Shale rig count fell by two this week ending at 127 rigs running across our coverage by midday Thursday.

In recent Eagle Ford news, the Eagleville oil field topped the list of the 100 largest oil fields in the country, unseating Alaska’s Prudhoe Bay for the number one spot.

Read more: EIA: Eagle Ford Oil Field Largest in the U.S.

The U.S. rig count fell again this week by 27 ending, ending with 905 rigs running by midday Friday.  A total of 222 rigs were targeting natural gas (and decrease of three from the previous week) and 679 were targeting oil in the U.S. (24 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)380 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 by three this week to 21 rigs. Natural gas prices traded at $2.79/mmbtu, a decrease of $.26 from the previous week.

The oil rig count fell to 106, down five from this time last week. WTI oil prices continued to inch upwards this week to $58.67, an increase of $1.60. A total of 118 rigs are drilling horizontal wells, zero rigs are drilling directional wells, and vertical rigs increased to nine.  Webb county is running 19 rigs this week and leads the Eagle Ford pack, with LaSalle (18), DeWitt (17) and Karnes (19) follow closely. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

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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