Eagle Ford Rigs Drop to 122

Eagle ford
Eagle ford

The Eagle Ford Shale rig count continues to fall and ended the week at 122 rigs running across our coverage area. In recent Eagle Ford news, another round of earthquakes hit north Texas this week, bringing the total number to 60 in the past year. The latest quakes were reported only two weeks after new evidence links fracking with increased seismic activity.

Read more:Four Texas Quakes within 24 Hours

The U.S. rig count fell again this week by 11 ending, ending with 894 rigs running by midday Friday.  A total of 221 rigs were targeting natural gas (and decrease of one from the previous week) and 668 were targeting oil in the U.S. (11 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)379 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 remained flat this week at 21 rigs. Natural gas prices traded at $2.88/mmbtu, an increase of  $.09 from the previous week.

The oil rig count fell to 101, down five from this time last week. WTI oil prices continued to inch upwards this week to $59.39, an increase of $.72. A total of 113 rigs are drilling horizontal wells, zero rigs are drilling directional wells, and vertical rigs stayed at nine.  Karnes and Webb counties are both running 18 rigs this week with DeWitt (16) and LaSalle (15) 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