Eagle Ford Rig Count Up to 119

Eagle Ford Rigs Increase
Eagle Ford Rigs Increase

The Eagle Ford Shale rig count increased this week to 119 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, the Energy Information Administration reported last week that Eagle Ford Shale gas production increased by 349% in the past eight years, even as rig counts plummeted.

Read more: Eagle Ford Natural Gas up 349%

The U.S. rig count increased slightly, ending with 859 rigs running by midday Friay.  A total of 228 rigs were targeting natural gas (five more the previous week) and 628 were targeting oil in the U.S. (three less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)361 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 stayed flat at 26 this week and natural gas prices traded at $2.77/mmbtu, an decrease of  $.05 from the previous week.

The oil rig count increased by two to 91 with WTI oil prices remaining stable at $59.63, an $.02 increase. A total of 109 rigs are drilling horizontal wells, one rig are drilling directional wells, and seven are vertical rigs. Karnes leads development this week and is running 20 rigs, while LaSalle (19) and Webb (16) 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