Eagle Ford Rig Count Falls to 103

Eagle Ford Rig Counts
Eagle Ford Rig Counts

The Eagle Ford Shale rig count fell this week to 103 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, Goodrich Petroleum announced this week it has closed on a huge deal to sell off some of its Eagle Ford assets.

Read more:Goodrich Finalizes Eagle Ford Deal

The U.S. rig count fell by 16 this week, ending with 848 rigs running by midday Friday.  A total of 196 rigs were targeting natural gas (down six from previous week) and 652 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.)366 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 14 this week as natural gas prices traded at $2.70/mmbtu, a $.04 decrease from the previous week.

The oil rig count was at 89 and WTI oil prices are at $45.22, a decrease of $1.40. A total of 94 rigs are drilling horizontal wells, one are drilling directional wells, and eight are vertical rigs. DeWitt County moves ahead with 17 rigs this week, with Karnes (16) following closely behind. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by Count

Eagle Ford Shale News

Abraxas Chief Slashes Salary

Texas Workforce Waffles

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