Eagle Ford Rig Count Holds Steady

Eagle Ford Rig Count at 114
Eagle Ford Rig Count at 114

The Eagle Ford Shale rig count stayed flat this week with 114 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, scientists met with Railroad Commissioner Ryan Sitton and other officials for a technical discussion about the science behind a recent study that links fracking and earthquakes.

Read more: Texas Earthquakes: The Verdict is Still Out

The U.S. rig count fell by nine, ending with 859 rigs running by midday Friday.  A total of 221 rigs were targeting natural gas (down one from the previous week) and 635 were targeting oil in the U.S. (seven less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)363 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 rose by three to 22 this week and natural gas prices traded at $2.76/mmbtu, an increase of  $.17 from the previous week.

The oil rig count decreased by three to 92 with WTI oil prices moving upwards this week to $59.98, an $.85 increase. A total of 110 rigs are drilling horizontal wells, zero rigs are drilling directional wells, and four are vertical rigs. LaSalle moved ahead this week and is running 21 rigs, while Karnes (19), Webb (17) and DeWitt (17)following 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